An Analysis Of The Nigerian Agricultural Insurance Scheme In Imo State.

ABSTRACT

This study attempts a cost-benefit analysis of the Nigerian Agricultural Insurance Scheme (NAIS) in Imo State. The study was carried out in Imo State. Primary and secondary data were used. Primary data consisted of a questionnaire distributed to insured farmers. Secondary data were obtained from the Union Bank of Nigeria Plc. Owerri, Supervised Agricultural Credit Loans Board, Imo State and the Nigerian Agricultural Insurance Corporation, (NAIC) Owerri — Imo State. Descriptive statistics such as means, percentages and tables were used to analyze objectives one and two while the B-C ratio was used for objective three. The scheme was financially viable and economically unviable due to premium subsidy. The withdrawal of premium subsidy by the government will make the scheme economically vibe.