• Thursday, June 20, 2024
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LAPO empowers rural farmers with N1.4 billion in three months

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The management of Lift Above Poverty Organization (LAPO) has said it has disbursed the sum of N1.4 billion to empower 324,070 rural farmers in the first quarter of 2024.

BDSunday reports that the amount was disbursed to the beneficiaries across 303 branches in 22 states of the federation.

Read also: How LAPO Microfinance Bank is fostering tech entrepreneurship

Victor Noruwa, executive director, Microfinance Segment of LAPO, who disclosed this to newsmen, said the fund was disbursed by LAPO Agricultural and Rural Development Initiative, (LARDI).

Noruwa also said that the aim of the investment was aimed to boost rural agriculture and improve the livelihoods of smallholder farmers across Nigeria.

He noted that the support was expected to enhance agricultural productivity, increase food security, and promote economic growth in rural communities.

He encouraged the beneficiaries to make the most of the opportunity by investing in their farms, expanding their operations, and improving their yields.

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

“This will not only improve their livelihoods but also contribute to the growth of the national economy,” he said.

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

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