By Nkechi Eze
The Nigerian Meteorological Agency has entered into a strategic partnership with Rex Insurance Limited to introduce weather index insurance aimed at protecting Nigerian farmers from climate-related losses.
The collaboration was formalised through the signing of a Memorandum of Understanding (MoU), which seeks to provide weather-based insurance solutions designed to help farmers safeguard their livelihoods against unpredictable weather events such as droughts and floods.
Speaking at the signing ceremony, the Director-General and Chief Executive Officer of NiMet, Charles Anosike, highlighted the agency’s long history of meteorological observation in Nigeria, noting that it has over a century of experience in weather monitoring and forecasting.
He explained that the agricultural sector has become increasingly vulnerable to the impacts of climate change, which continue to affect crops, livestock, soil quality, water resources and rural communities across the country.
According to him, the weather index agricultural insurance scheme uses measurable weather data to trigger insurance payouts whenever weather conditions exceed defined thresholds.
Anosike said the initiative would also integrate crop calendar forecasting, a climate-based tool that predicts the most suitable periods for planting and harvesting, thereby enabling farmers to make better-informed agricultural decisions and improve productivity.
“This approach will give farmers access to timely weather and climate information that supports smarter agricultural practices and enhances crop yields,” he said.
Also speaking, the Managing Director and Chief Executive Officer of Rex Insurance Limited, Ebelechukwu Nwachukwu, explained that the company has undergone significant transformation aimed at leveraging technology to strengthen its insurance products, particularly in the agricultural sector.
Nwachukwu noted that the company, formerly known as Royal Exchange Insurance and established in 1918 as Nigeria’s first insurance firm, is now focusing on innovative solutions that can help smallholder farmers manage risks more effectively.
She stated that the partnership with NiMet would enable the rollout of index-based insurance products tailored specifically for smallholder farmers in Nigeria.
“This collaboration will make index-based insurance for smallholder farmers a reality and support them in planning their farming activities more effectively,” she said.
In his concluding remarks, Anosike emphasised that insurance remains an important tool for managing climate risks, especially as extreme weather events become more frequent and severe.
He added that effective risk management depends on reliable climate information and reaffirmed NiMet’s commitment to strengthening the partnership with Rex Insurance to support farmers and enhance agricultural resilience in Nigeria.
