IMPACT OF AGRICULTURAL INSURANCE ON THE GROWTH AND SUSTAINABILITY OF POULTRY FARMING
Abstract
ABSTRACT
This study investigates the impact of agricultural insurance on the growth and sustainability of poultry farming in Nigeria. The objectives of the study were to determine whether agricultural insurance significantly influences the growth of poultry farming, to assess its effect on sustainability, and to evaluate the challenges affecting participation in agricultural insurance schemes. The study adopted a survey research design, with a sample size of 100 poultry farmers randomly selected from different poultry enterprises. Data were collected through structured questionnaires and analyzed using descriptive statistics and Chi-square tests. The findings revealed that while awareness of agricultural insurance is relatively high among poultry farmers, actual participation remains low due to high premium rates, poor sensitization, and lack of trust in insurance companies. The results further showed that agricultural insurance has a significant impact on the growth of poultry farming, particularly by improving access to credit, boosting confidence to invest, and encouraging expansion. It also enhances sustainability by providing compensation against risks, minimizing farm collapse, and supporting long-term stability in poultry enterprises. Hypotheses tested confirmed a statistically significant relationship between agricultural insurance and both growth and sustainability of poultry farming.The study concludes that agricultural insurance is not only a financial instrument but a critical development tool that safeguards poultry farming against risks and fosters its sustainability. It recommends increased awareness campaigns, provision of affordable premiums, stronger government support, and improved trust in insurance companies through timely claims settlement.This research contributes to existing knowledge by empirically establishing the role of agricultural insurance as a catalyst for agricultural development and food security in Nigeria, while also pointing out practical policy measures for increased adoption.
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