LAPO disburses N5.6bn to rural farmers

The Lift Above Poverty Organisation (LAPO) has disbursed N5,562,438,360 to rural farmers in the first quarter of 2024.

Executive Director, Microfinance Segment of LAPO, Dr. Victor Noruwa said the investment is aimed at boosting rural agriculture and improving the livelihoods of smallholder farmers across Nigeria.

He explained that the loan was disbursed to 174,799 farmers across 318 branches in 22 states of the federation through its LAPO Agricultural and Rural Development Initiative, (LARDI).

According to Noruwa, the LAPO support is expected to enhance agricultural productivity, increase food security and promote economic growth in rural communities.

Noruwa advised the beneficiaries to utilise the funds judiciously in order to add values to their agricultural activities.

“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

“LAPO’s commitment to rural agriculture is aligned with its mission to empower marginalised communities and promote sustainable development.

“Through LARDI, the organisation aims to increase access to financial services, improve agricultural productivity and reduce poverty among rural farmers,” he said.

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