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Agric sector loses N20bn annually due to lack of insurance cover

NIGERIA’s agricultural   sector losses about N20 billion annually due to failure of insurance companies to create products to cover small farmers. Stakeholders in the agriculture sector stated this while speaking at the 2018 national insurance brokers’ conference and exhibition in Lagos, noting that the absence of insurance cover for smallholder farmers is part of the reason why livestock agriculture is not growing in Nigeria.

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Insurers’ profits suffer marginal decline in H’1

THE insurance industry in the first half, H’1, of 2018 witnessed marginal decline in profit occasioned by declining purchasing power of Nigerians coupled with increasing cost of living and cost of doing business. Analysts who spoke to Financial Vanguard said that as cost of doing business continues to mount, topline tends not to be growing at the same rate, putting pressure on the bottom-line.

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