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LAPO gave N70bn loan to 262,977 grantees in 15 years

The Executive Director of Lift Above Poverty Organisation (LAPO), Honestus Ayobami Obadiora, said the financing firm has disbursed over N70 billion to 262,977 clients since…

The Executive Director of Lift Above Poverty Organisation (LAPO), Honestus Ayobami Obadiora, said the financing firm has disbursed over N70 billion to 262,977 clients since 2007 under the LAPO Rural Development Initiative (LARDI).

He disclosed this on Monday at the annual media forum in Benin City where he stated that the loan was disbursed to clients in 303 branches across 22 states in Nigeria.

Obadiora also said under LARDI, N23.5bn was disbursed to improve the livelihood of rural farmers as well as support micro businesses between January and December 2022.

He added that the mandate of LARDI was to improve the income, food security and general living conditions of rural households, particularly women-headed households and youths.

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Speaking further, Obadiora said: “We are delighted that the beneficiaries who were hitherto subsistence farmers and small-scale business owners have expanded their farmlands and businesses with improved income for family upkeep and savings for the future.

He said, “LAPO addresses challenges limiting farmers’ productivity and income as well as business expansion and growth such as non-availability of inputs for improved farm yield and limited access to finance.

“The organisation builds the capacity of rural farmers and business owners through on-farm demonstration, workshop and training programmes.”

On LAPO’s health project, Obadiora added that between January, 2016, and December, 2022, 3,368,142 million community members were sensitised against cancer by the LAPO-C4 project.

He explained that 86,198 of the beneficiaries were referred for further screening and treatment in government-approved health facilities.

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