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Govt to implement transit insurance scheme

As part of efforts to insure transportation of agricultural products across the country, the Federal Government has inaugurated five committees for the implementation of the National Transit Insurance Scheme (NATIS) and National Anti-Multiple Taxation Scheme (NAMTAXS).

It would be recalled that the Nigerian Agricultural Insurance Corporation (NAIC), Association of Local Governments of Nigeria (ALGON) and the National Association of Agricultural Product Dealers (NAAPD), on July 24, 2020 signed a Memorandum of Understanding to insure transportation of agricultural products across the country. The move is to reduce high cost of food, due to haulage problem in the country.

Speaking at the inauguration of the implementation Committee in Abuja, Managing Director of NAIC, Mrs Folashade Joseph, said the scheme would provide mandatory protection for all goods in transit nationwide in the form of insurance.

She lamented that the challenges of insecurity, poor roads and the activities of some transporters and freighters had impacted negatively on the safety and ease of transportation of goods.

Joseph, who was represented by the Director of Operations, Mr. Bashir Babalola, however said NAIC would support the NAMTAX by providing indemnification against hazards which may lead to hospitalisation, injury or even death in the course of its enforcement.

“We want to assure you that NAIC is committed to the success of the two schemes, NATIS and NAMTAX and ready to work with all parties involved”.

While noting that the implementation of the scheme would require support of government at all levels, Ministries, Department and Agencies, including the armed forces, Nigerian police and all other security agencies, she urged all stakeholders to regard the task as a national assignment undertaken in the best interest of the country’s economy.

Also speaking, Director of Finance and Accounts, ALGON, Mr Salawu Ozigi, said the challenges of of transporting agricultural products was contributing to the high cost of food in the country. “The prices of food commodities we have today has been grossly high because of some of the malpractices in the haulage of the items from the point of production to the market, and markets andbparks are the sole responsibility of local governments in the country,” he said.

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