The Lift Above Poverty Organization (LAPO), a non-governmental organization, has disbursed N1.4 billion to rural farmers across the country in the first quarter of 2024.
Dr Victor Noruwa, Executive Director, Microfinance Segment of LAPO, who made the disclosure, said that the significant investment is aimed at boosting rural agriculture and improving the livelihoods of smallholder farmers across Nigeria.
He said that the loan was disbursed to 324,070 farmers across 303 branches in 22 states of the federation through its LAPO Agricultural and Rural Development Initiative, (LARDI).
The disbursement according to the Executive Director, LAPO Microfinance Segment, is expected to enhance agricultural productivity, increase food security, and promote economic growth in rural communities.
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He advised the beneficiaries to utilize the funds judiciously to add value to their agricultural activities.Â
“We encourage our beneficiaries to make the most of this opportunity by investing in their farms, expanding their operations, and improving their yields.
“This will not only improve their livelihoods but also contribute to the growth of the national economy,” he said.
LAPO’s commitment to rural agriculture, it was learnt is aligned with its mission to empower marginalized communities and promote sustainable development.Â
Through LARDI, the organization, it was further learnt is aimed at increasing access to financial services, improving agricultural productivity, and reducing poverty among rural farmers.
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