A new study shows that weather-based insurance will help smallholder farmers to withstand the effects of climate change and market shocks. The study was launched recently in London where Nigerian officials also gathered to learn how they can implement the program for their farmers.
The report was carried out by the CGIAR Research Program on Climate Change, Agriculture and Food Security, (CCAFS), and the International Research Institute for Climate and Society at Columbia University in New York. It showcased projects that have overcome many of the challenges that have hindered famers from having access to index insurance.
This type of insurance provides support to small farmers when there’s not enough rainfall to grow sufficient yields. The insurance is based on a specific “index” –for example wind speed or rainfall for crops.
Dr. Debisi Araba, the team leader for the Environment and Climate Change Unit for Nigeria’s Ministry of Agriculture, explained the appeal of the insurance to food producers in his country.
“Nigeria has about 15-million small-holder farmers, and it’s our aim to ensure that each of those farmers not only remain productive but are able to cope with the shocks and stresses of weather induced climate change.”
“In 2012, we had massive floods along […]