In continuation of its strategic engagement with critical stakeholders in Nigeria’s agribusiness, the Feed Nigeria Summit Secretariat played host to Mr. Thomas Njeru, Co-Founder and Managing Director of PULA Advisors LLC, one of Africa’s leading agriculture insurance service providers.
The PULA boss, who was accompanied by principal members of his Country Team, was received by the Director General of the FNS Secretariat, Mr. Richard-Mark Mbaram Esq. Welcoming Mr. Njeru to the Secretariat, the Director General expressed satisfaction with the support that the Feed Nigeria Summit process and indeed, the Deal Room framework has received from Messrs. PULA Advisors over the last 3 years of the existing strategic partnership.
According to Mbaram, “the involvement of PULA in the FNS Deal Room process is crucial, particularly considering the role of insurance in providing financial protection for farmers, investors and agribusinesses, thereby addressing the risk perception of the sector”.
On his part, Njelu noted that smallholder farmers are exposed to daily risks, whether caused by drought, floods, pests and diseases or general economic (market) vagaries and that it is imperative to devise innovative ways to protect their investments.
Speaking further, Njelu pointed out that PULA is an insurance company with a radically different approach to bringing insurance solutions to emerging markets. “The products that we offer are quite innovative and tailor-made to serve the interests of the varying groupings in the farming and allied businesses”.
“Beyond insurance, PULA provides digital-enabled and low-cost agronomy advisory to farmers to increase their yields. We are thus on a mission to leverage technology to increase and protect the incomes of smallholder farmers in Nigeria and across Africa”, Njelu stated.
On the Company’s partnership with the FNS process, Njelu had this to say: “We’re passionate about the platform and the scalable nature of the outcomes from it. Particularly remarkable is the co-convening feature which makes it a public-private dialogue platform”. We are committed to increasing our working relationship with the process,” he added.
The meeting had in attendance the Director for Planning and Policy Coordination of the Federal Ministry of Agriculture and Rural Development, Mr. Tanimu Ibrahim who underscored the readiness of the Federal Government of Nigeria to robustly enhance the financial protection options available to farmers with a view to encouraging them to expand their product base and outcomes.
“The protection of the investments of our farmers and other agribusinesses is a primary concern for the government and we welcome PULA’s partnership and the opportunities it opens up for accessing contemporary, efficacious insurance products and services for our farmers”. The Feed Nigeria Summit is a Public/Private Partnership Dialogue Platform – the first of such national agriculture sector-specific initiatives on the continent of Africa.