Rural development: LAPO’s annual loan disbursement stands at N19.9 billion

The organization Lift Above Poverty said it disbursed N19.9 billion under its rural development initiative in fiscal year 2021.

LAPO Executive Director, Dr. Honestus Obadiora, who said this at LAPO’s annual media forum on Friday, said the figure represented a growth of 64% from the 12.2 billion naira disbursed in 2020.

According to him, the rural development initiative LAPO offers economically active clients loan products, including agricultural and business development services, and the institution has 226,858 clients in 283 branches in 21 states.

He reaffirmed the organization’s commitment to poverty reduction and agricultural development in Nigeria.

He said, “We are committed to ensuring that farmers and entrepreneurs have loans to run and improve their business. This is why we have made available to our clients a loan of N19.9 billion in 2021 through the LAPO Rural Development Initiative. LARDI empowers economically active customers at 283 branches in 21 states.

“We urge low-income farmers and business owners to take advantage of our affordable loan opportunity to enhance the growth and development of their agricultural and business enterprises.”

Obadiora said LAPO educated 1.2 million community members about cancer detection and prevention, while improving the health status of 292,357 vulnerable community members in 2021.

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