Wednesday, April 24, 2024

LAPO Empowers Farmers with Financial Services

The Lift Poverty Organization (LAPO), through its LAPO Agricultural and Rural Development Initiative (LARDI), has improved rural agricultural development with a disbursement of N9 billion to rural farmers and micro business owners in the first half of the year 2023.

The Lift Poverty Organization (LAPO), through its LAPO Agricultural and Rural Development Initiative (LARDI), has improved rural agricultural development with a disbursement of N9 billion to rural farmers and micro business owners in the first half of the year 2023.

The Executive Director of LAPO, Dr Honestus Ayo Obadiora, noted that the funds were disbursed to 191,134 farmers across 310 branches nationwide between January and June 2023, to address challenges limiting farmers’ productivity such as the non-availability of inputs for improved farm yield and limited access to finance.

LAPO microfinance bank is an off shoot of the lift above poverty (LAPO) organization, a poverty- focused non-governmental organization. It was initiated in the late 1980s in response to the fall out of the implementation of the Structural Adjustment Program (SAP).

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The LAPO boss expressed satisfaction with the progress of the beneficiaries, noting that many have significantly expanded their farmlands and enhanced their productivities to ensure food security, while some have improved their business operations with improved income and better livelihood.

Obadiora pointed out that LAPO is strongly committed to the mandate of improving rural agriculture, food security and the general living condition of rural dwellers, particularly, women-headed households and youths through flexible and affordable financial services.

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He further explained that part of what the organization does to help rural community is capacity development of rural farmers and business owners through on-farm demonstration, workshop and training programs.

According to him, Nigeria’s agricultural sector has a strong potential to provide adequate food for its teeming populace and supply raw materials to a growing industrial sector, which constitutes a major source of foreign exchange and employment in the country.

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