LAPO Microfinance Bank

LAPO Annual Loan Disbursement Rises to N19.9bn

The Lift Above Poverty Organisation has said it disbursed N19.9bn through its Rural Development Initiative during the 2021 financial year.

The Executive Director, LAPO, Dr Honestus Obadiora, who said this on Friday at the LAPO annual media forum, said the figure represented 64 per cent growth over the N12.2bn disbursed in 2020.

According to him, the LAPO Rural Development Initiative empowers economically active clients with loan products, including farming and enterprise development service, and the institution has 226,858 clients in 283 branches in 21 states.

He reaffirmed the organisation’s commitment to poverty alleviation and agricultural development in Nigeria.

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

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

Obadiora said LAPO had sensitised 1.2 million community members to cancer detection and prevention, while improving the health condition of 292,357 vulnerable community members in 2021.

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