LAPO empowers 183,538 rural farmers with N75.4billion in 7 years

By Editor

Dec 16, 2022

The management of Lift Above Poverty Organisation (LAPO) says it has disbursed the sum of N75.4billion to empower 183,538 rural farmers between 2015 and July 2022.

Dr Honestus Obadiora, executive director of the organization made the disclosure on Thursday at a one-day webinar programme with the theme," Promoting Financial Inclusion for Agriculture and Rural Development in Nigeria.

Obadiora said the disbursement was under the LAPO Rural Development Initiative (LARDI).

He also disclosed that the LAPO Micro Finance Bank disbursed over N35 billion to small scale farmers from January 2012 to December 2021.

He noted that the organization had continued to support agricultural development in the country through credit schemes, access to market and value chain addition for agricultural produces.

He, however, emphasized the need to provide flexible financial opportunities to rural dwellers.

Meanwhile, stakeholders at the programme advocated for financial inclusion, especially for women in agriculture in order to boost food security and reduce poverty in the country.

They opined that more private investment needed in the nation's agriculture sector to promote growth and sustainability of the sector.

Some of the stakeholders who spoke at the event include Babatunde Olarewaju, Former National Value Chain Consultant, Food and Agriculture Organization,

Prince Ade Ajayi, Co-founder and National Coordinator,  Corporate Farmers International and Benjamin Fiafor, Country Representative, Nigeria and Ghana, Farm Radio International.

In his remarks, Mr Babatunde Olarewaju said there was a link between agriculture, women empowerment and food security.

"Women in agriculture still face challenges in terms of access to land, credit, inputs, training, extension services, decision making process and technology.

"Having gender equality in the agriculture sector would go a long way in promoting food security," he said.

Speaking on Promoting Private Sector investment in Agricultural Value Chain, Prince Ade Ajayi advocated for a practicable approach in solving Nigeria's agricultural problems.

Ajayi, who is the Co-founder and National Coordinator,  Corporate Farmers International, opined that the  private sector investment in agriculture was key in scaling up food supply as well as poverty reduction in the country.

He also added that investment in agriculture was a tangible asset that provided benefits to farmers as well as the community.

For, Benjamin Fiafor, Country Representative, Nigeria and Ghana, Farm Radio International, he advocated that radio programmes could be used to communicate best practices in terms of gender needs to farmers.

Fiafor added that radio programmes for farmers should be interactive so that farmers will be able to ask questions about access to credits, grants and many others.