Young entrepreneurs in the agriculture sector have been advised to embrace insurance as a deliberate and sustained risk management to guarantee sustainable business and profits in their agriculture endeavours.
The President of the Nigerian Council of Registered Insurance Brokers, Mrs. Bola Onigbogi made this known at Lagos State Farm Service Centre, Agege Lagos, where she commended government agriculture empowerment programme for young Nigerians.
According to her, agriculture is a critical sector for food security and contributes significantly to the economic advancement of countries, and should have associated risks adequately covered to prevent unforeseen occurrences that may dislodge young entrepreneurs from venturing.
She reiterated that agriculture, being a critical sector with high volatility, ranging from natural to man made risks should embrace risk management particularly insurance. She was represented by vice president NCRIB, Mr. Tunde Oguntade.
Mrs. Onigbogi said that the importance of insurance to the development of agriculture sector in Nigeria cannot be overemphasized, explaining that insurance would ensure that policy holders were restored when the covered risk happens. She therefore enjoined the budding farmers to integrate insurance into their plans before venturing into agriculture business.