AQUACULTURE INSURANCE IN SUSTAINABLE FISH PRODUCTION

CASE STUDY OF NIGERIA AGRICULTURAL INSURANCE CORPORATION, OYO STATE

Authors

  • Sule S. O. Department of Forestry, Wildlife and Fisheries, Olabisi Onabanjo University, Ayetoro Campus, Ogun State, Nigeria Author
  • Sotolu A. O. Department of Aquaculture and Fisheries Management, Nasarawa State University, keffi, Shabu-Lafia campus, Lafia, Nigeria Author
  • Okunsebor S. A. Department of Aquaculture and Fisheries Management, Nasarawa State University, keffi, Shabu-Lafia campus, Lafia, Nigeria Author
  • Sanusi S. O. Department of Agricultural Economics and Extension, Federal University Gashua, Yobe State, Nigeria Author

Keywords:

Premium, Broker, Indemnity, Risk, Uptake

Abstract

This study was carried out to ascertain the level of awareness and participation of stakeholders to Aquaculture Insurance in Oyo State, South-West, Nigeria. The premium ledger of the Nigeria Agricultural Insurance Corporation of the State branch was used to identify the types of agriculture insured between 2010-July 2013. Total agricultural policies paid for under review period amounts to 642 with 71 policies for Aquaculture operations ranking third, 185 Poultry second and 209 Arable first. The study revealed that the Premium received for Aquaculture Insurance amounted to ₦1,680,959:90 (US$11,206:39) during this period. Five commercial banks were responsible for all the aquaculture insurance policy undertaken. 

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Published

31-12-2019

Issue

Vol. 5 No. 2 (2019): Fulafia Journal of Science and Technology (FJST)

Section

Agricultural and Biological Sciences

How to Cite

AQUACULTURE INSURANCE IN SUSTAINABLE FISH PRODUCTION: CASE STUDY OF NIGERIA AGRICULTURAL INSURANCE CORPORATION, OYO STATE. (2019). FULafia Journal of Science and Technology , 5(2), 6-11. https://lafiascijournals.org.ng/index.php/fjst/article/view/222

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