LAPO Rural Development Initiative
Decline in agricultural productivity especially in rural areas has become a real threat to food security in the last two or three decades. Efforts by government and traditional extension services to tackle the issues have largely been inadequate and unsuccessful. The establishment of the LAPO Agricultural and Rural Development Initiative (LARDI) in May 2007 was prompted by the need to address these challenges in a holistic and realistic manner.
The LAPO Agricultural and Rural Development Initiative (LARDI) provides rural farmers access to affordable agricultural credit facilities and extension services to enable them become self-sufficient in food production and embrace commercial agriculture. Products and services include loans and savings.
Over the years, LARDI has significantly improved the quality of life of rural dwellers through committed support for livelihood activities intended to energize the rural economy. The financial institution has disbursed the sum of N24.2 billion so far as agricultural loans to support livestock (poultry, fishery, piggery), arable crops (cassava, grains, tubers, vegetables) and tree crops like oil palm and cocoa.
Apart from credit facilities, LARDI has facilitated farmers’ access to vital farming inputs, provided employment for the youths and has generally contributed to improvement in the nutritional status of rural households. With the support of LARDI, the beneficiaries now have more resources to invest in their agricultural activities with huge benefits to their households and the country at large.
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