Determinants of poultry firms' participation in the Nigerian Agricultural Insurance scheme in Oyo state, Nigeria

The study tried to identify the key determinants influencing poultry enterprises participation in the Nigerian Agricultural Insurance scheme in Ibadan areas of Oyo state, Nigeria. The data used came from a sample survey of the six Local Government Areas surrounding Ibadan Municipal Government Area. Evidence from the estimated model shows that eight out of the variables considered have significant impact on their participation decisions. Six of the variables have positive impact while the remaining two have negative influence on their probability of participation. Based on the results obtained, the following recommendations were made. A downward reviews of premium paid by the policy-holders, an upward review of compensation paid to claimants and income improvement policy through input subsidy to the producers. Others are provision of credit facility to the producers, establishment of agric-insurance offices near the producers, and the provision of market outlets to the producers.