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Tag: LAPO

  • LAPO disburses N140b in first half

    LAPO disburses N140b in first half

    Lift Above Poverty Organisation (LAPO) has disbursed over N140.4 billion to 499,574 clients across Nigeria and Sierra Leone between January and June this year.

    Head of Corporate Communications, Lift Above Poverty Organisation (LAPO), James-Wisdom Abhulimen, said these efforts helped to   reinforce the organisation’s commitment to financial inclusion, rural development, and economic empowerment.

    According to him, the disbursements were made through key LAPO-affiliated institutions offering microfinance, agricultural support, livelihood empowerment, and asset-based financing services.

    Abhulimen noted that   the impact of the  disbursements has been far-reaching, fostering sustainable socio-economic development across the region.

    At the forefront of this was LAPO Microfinance Bank, which disbursed a substantial N119.6 billion.

    The  funding was primarily directed towards micro and small-scale entrepreneurs, providing them with essential working capital and business expansion loans. The strategic focus on the segment ,he indicated, aimed  to drive job creation and stimulate local economic growth.

    He reiterated that the  bank’s commitment to supporting  entrepreneurs is a cornerstone of LAPO’s mission, enabling countless individuals to scale their businesses and improve their livelihoods.

    LAPO Agricultural and Rural Development Initiative (LARDI) disbursed a remarkable N17.58 billion to over 130,000 farmers and agro-based enterprises. This represented a significant 35.66 per cent  increase over the N12.96 billion disbursed during the same period  last year demonstrating a growing commitment to strengthening rural economies.

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    To support agriculture,LAPO Household Poultry & Livelihood Initiative (LAHPLI) disbursed N1.04 billion to 6,718 beneficiaries. This included poultry, livestock, and fish farmers, as well as sellers of eggs, feed, and veterinary medicine. The intervention represents a phenomenal 930.9 per cent  increase over the N100.438 million disbursed in the first half of last year .

    According to him, LAHPLI’s work has been instrumental in empowering smallholder farmers in rural communities, enabling them to increase productivity, enhance food security, and boost their income, directly addressing critical sector challenges such as low productivity and limited access to finance.

    In addition to direct financial loans, he said  LAPO’s ecosystem also facilitates access to income-generating assets through its Micro Investment Support Services (MISS). The arm disbursed N2.15 billion in lease assets, enabling micro-entrepreneurs to acquire essential tools such as tricycles, motorbikes, refrigerators, and solar-powered equipment.

    The organisation’s reach extended beyond Nigeria’s borders, with the LAPO Microfinance Company in Sierra Leone extending N57.2 million in microloans to economically active poor individuals.

    This growing regional footprint, according to  Abhulimen , showcases LAPO’s ambition to replicate its successful model of poverty alleviation and financial inclusion in other parts of Africa. He  said the  figures underscored LAPO’s holistic and scalable approach to poverty alleviation—integrating finance, enterprise development, and rural empowerment to uplift vulnerable populations.

    He reaffirmed LAPO’s unwavering commitment to innovation and expansion, with a focus on meeting the evolving needs of its clients and contributing meaningfully to socio-economic development across the region.

  • LAPO disburses N18.6b to farmers

    LAPO disburses N18.6b to farmers

    The Lift Above Poverty Organisation (LAPO) has disbursed N18.6 billion to 136,902 farmers and agribusinesses in the first quarter of this year This marks a 31 per cent  surge compared to the N12.9 billion disbursed during the same period last year.

    The funding, facilitated in partnership with the LAPO Agricultural and Rural Development Initiative (LARDI), reached beneficiaries through 341 branches spread across 22 states.

    According to  the Executive Director,LAPO’s Microfinance Segment, Victor Noruwa, this increased disbursement underscores the firm’s unwavering commitment to providing farmers with easier access to soft loans and empowering agribusinesses to scale their operations and boost productivity.

    “Our goal is to empower rural farmers and agripreneurs across Nigeria by giving them the financial tools to build sustainable agricultural ventures. We encourage all beneficiaries to deploy the funds productively ,” Noruwa stated

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    LAPO emphasised that a special focus was placed on women-led households and youth-driven enterprises, aligning with the organization’s core mission to alleviate poverty, enhance rural livelihoods, and strengthen food security nationwide.

    In a parallel effort, LAPO also disbursed an additional N1 billion to over 6,000 farmers operating in key agricultural sub-sectors, including poultry, livestock, and fisheries, under its LAPO Household Poultry and Livestock Initiative (LAHPLI).

    Vice President ,Livelihood & Social Protection, Tessa Anota,  hailed this disbursement as a significant milestone in LAPO’s agricultural financing drive. “LAHPLI has played a critical role in empowering smallholder farmers, especially in rural areas, by helping them expand operations, improve food production, and increase household incomes,” Anota explained.

    She further noted that LAHPLI is an integral part of LAPO’s broader strategy to tackle pervasive challenges within Nigeria’s agricultural sector, such as low productivity, limited access to finance, and weak technical capacity.

    “The programme is designed to deliver not just funding but also access to modern inputs, training, and extension support—creating a path toward more resilient and self-sustaining farming systems,” Anota added.

  • LAPO Founding Board Chair gets LOWLA Lifetime award

    LAPO Founding Board Chair gets LOWLA Lifetime award

    Mrs. Osar-Emokpae Enoma Imose recently received the esteemed Lifetime Achievement Award at the 12th LAPO Outstanding Women Leadership Award (LOWLA) ceremony in Benin, Edo State.

    This recognition was conferred upon her by the Lift Above Poverty Organization (LAPO) in honour of her exceptional contributions. Mrs. Osar-Emokpae holds the notable position of being the inaugural Board Chair of LAPO NGO, a distinction that undoubtedly played a pivotal role in her receipt of the distinguished Lifetime Award.

    Mrs. Osar-Emokpae Enoma Imose, a distinguished linguist, is an alumna of the Haggai Institute in Hawaii, USA, in addition to having pursued academic endeavours at the University of Oxford and Cranfield University in the United Kingdom. Her educational journey also includes studies at the University of Benin and the University of Lagos in Nigeria.

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    She is an alumna of APCON (now ARCON), graduating as the best student in Advertising Strategy in the Advertising Academy. Seeking to further develop her expertise, she underwent specialized training in Mobile Advertising in South Africa. Subsequently, she assumed the inaugural CEO position at Commutanet Ltd in Lagos. During her tenure, she spearheaded the introduction of Wrap Around Mobile Advertising, a pioneering concept within the Nigerian advertising industry.

  • ‘Fed Govt’s partnership with private sector to enhance growth’

    ‘Fed Govt’s partnership with private sector to enhance growth’

     From Juliana Agbo, Abuja

    The Lift Above Poverty Organisation (LAPO) has said Federal Government’s partnership with the private sector will accelerate growth and development.

    In a statement, Head of Programme and Communications, Dr James Abhulimen,  said the Minister of Budget and National Economic Planning, Abubakar Bagudu, at the 30th Annual LAPO Development Forum, stressed the need for partnership with private sector to drive development.

     It added the minister, represented by Director of International Cooperation, Dr. Sampson Ebimaro, said non-state actors should complement government efforts in promoting development.

     The statement quoted the minister: “Non-governmental organisations cover the space not covered by government by seeking propositions on health care, environment, economy, public policy, empowerment and support to vulnerable citizens.

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     “The government’s objectives are critical for state and non-state actors as NGOs. “NGOs work with the government through its national development plan.

     ‘’The chairman mentioned and talked about our national development plan for 2021–2025. In doing that, the actors must be inclusive in that it has to be non-selective and non-discriminatory, and you must stick to the needs of various areas.

     “Government faces challenges. Growth rate is slow and population is increasing. unemployment is surging amid high inflation. These are issues which non-governmental organisations must help government to cover the space government could not cover”.

  • LAPO Mfb gets ISO certification

    LAPO Mfb gets ISO certification

    LAPO Microfinance Bank Limited has been given an International Standard Organization (ISO) 27001:2022 in compliance with Information Security Management System (ISMS) global best practices.

    Director of Communications, Oluremi Akande, says, “LAPO Microfinance Bank is renowned for its early adoption, implementation, and compliance with global best practices in its business operations. In 2019, the bank was certified ISO/IEC 27001:2022 and recently recertified and awarded with ISO 27001:2022; an indication of a satisfactory audit of the bank’s ISMS compliance by the global awarding body.

    Read Also: LAPO spends over N1.2tr to assist female business, others

    He said: “LAPO MfB will continue to prioritize customers’ data protection and information management through the deployment of innovative process and systems technologies and investment in superior manpower capabilities to meet the ever-dynamic information security and other needs of our stakeholders in the most sustainable manner.”  

    LAPO Microfinance Bank is committed to it’s over 30 years’ mandate of social and economic empowerment of members of low-income households and owners of micro, small, and medium enterprises in a sustainable manner.

  • LAPO spends over N1.2tr to assist female business, others

    LAPO spends over N1.2tr to assist female business, others

    Lift Above Poverty Organisation (LAPO) Microfinance Bank has said that the Bank spent over N1.2 trillion on female owners of micro and small businesses.

    The Founder and CEO of the Bank, Dr. Godwin Ehigiamusoe stated this yesterday in Abuja  at the 30th Annual LAPO Development Forum with the theme: ”The Role of Non-State Actors in National Development: A Case Study of LAPO.”

    Ehigiamusoe said LAPO was established as a non-governmental response to the spikes in spread and intensity of poverty after the adoption of the Structural Adjustment Programme (SAP) in 1986.

    He said with a simple act of providing N100 each to three (3) women in Ogwashi-Uku in Delta State, LAPO grew into a number mutually reinforcing institutions which support low-income people and micro and small enterprises.

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    The institutions he said include; Benin Medical Care a well-resourced medical and diagnostic facility in Benin; LAPO Microfinance Bank a leading microfinance institution in Africa; LAPO Microfinance Company, Sierra Leone; Goxi MicroInsurance Company, the first licensed micro-insurance Company in Nigeria.

    He said with millions of beneficiaries and full-time staff of 10, 212, these institutions and others within the LAPO System have made immense contributions to national development.

    Also, the Chairman of the occasion, Dr Sarah Alade said the pace of the present and future growth will depend on how effectively the country leverages the potential of Non State Actors (NSAs) in a mutually beneficial environment.

    Alade noted that it is imperative to recognise why non-state actors, such as LAPO, should align with the national development agenda.

    She said the Nigerian National Development Plan emphasizes the crucial importance of such alignment, particularly given the substantial financial commitment required to achieve our nation’s developmental goals. According to her, this plan outlines ambitious objectives across various sectors, including infrastructure, healthcare, education, and poverty alleviation.

    The Chairman Board Of Directors, LAPO, Osaren Emokpae who was represented by Mrs Elizabeth Ehigiamusoe said over the years, they have witnessed the LAPO Development forum gaining momentum as a critical intellectual ground with focus on the development agenda in Nigeria and Africa.

    Emokpae noted that despite the continued distrust that is prevalent between governments and NSAs, there is clearly room for both to work in harmony in bringing about the desired changes in the lives of the citizens.

  • LAPO empowers over 19,000 women

    Lift Above Poverty Organisation (LAPO) has empowered 19,124 women with social development skills as part of its contributions to the development of social skills especially among women, .

    LAPO said this would enable the women to overcome the socio-cultural and traditional inhibitions militating against their progress and realisation of their aspirations.

    Its Executive Director, Sabina Idowu-Osehobo, expressed concerns that a lot of women were discriminated against in the society, marginalised and excluded from life transforming opportunities.

    She said sustainable development could not be achieved without women inclusion.

    According to her, LAPO is committed to the dismantling of structures and processes that encourage discrimination, injustice and violence against women, adding that gender-based discrimination permeates all cultures, and often manifests in laws, policies, and practices of institutions.

    It is noteworthy that LAPO has been in the forefront of bringing gender issues to wider attention, promoting legal and policy reforms and supporting projects that empower women economically, she said in a statement.

    In the same vein, the organisation has trained 103,437 under its Business Management Training project.

    LAPO said the purpose of the training was to enable them manage their businesses more successfully.

    “The training is expected to strengthen their capacity to develop long-term vision for their businesses, maintain good customer relations, develop sustainable plans, keep appropriate book of accounts and manage their financial records.

  • LAPO disburses N2.2bn Agric loan

    The Lift Above Poverty Organisation (LAPO) said it disbursed the sum of N2.2bn to 92,156 persons as agricultural loan between January and May 2017.

    It said the disbursement of the loan was part of the its commitment to address the problem of food security in Nigeria

    Executive Director of LAPO, Mrs. Sabina Idowu-Osehobo, who disclosed this at a a 2-day training for staff of the LAPO Agricultural and Rural Development Initiative (LARDI), said  people that benefitted engaged in agricultural activities.

    Represented by Manager, Planning, Monitoring and Evaluation, Tessa Anota-Aizebeokhai, Mrs. Idowu-Osehobo said LAPO  want to address challenges limiting farmers’ productivity and income such as non-availability of inputs for improved farm yield and limited access to finance.

    She stated that the organisation also helped to build capacity of rural farmers through on-farm demonstration and training.

    Mrs. Idowu-Osehobo said beneficiaries have expanded their farm enterprises with improved income for their families and savings for future investment.

    Idowu-Osehobo said the organization has just developed a 5-year growth strategy with People, Technology, Products and Performance as strategic pillars.

  • LAPO MfB secures N2.4b AfDB loan

    LAPO MfB secures N2.4b AfDB loan

    The African Development Bank Group (AfDB) has granted a N2.364 billion ($12 million) credit facility to Nigeria’s LAPO Microfinance Bank Ltd.

    The bank, in a statement yesterday, said  the loan agreement was to support inclusive growth in the country.

    It noted that the facility would equally enhance local Small and Medium Enterprises (SMEs).

    LAPO MfB is the largest microfinance bank in Nigeria with 1.1 million clients and 327 branches, currently operating in 26 out of 36 states in the country.

    Given its history of group-lending model centred on a community-based approach, LAPO predominantly focuses on low-income households and women by providing an average loan size of N38,000 ($190).

    “The corporate AfDB loan will support a proposed expansion project of LAPO MfB to achieve its goal to serve five  million clients by 2017.

    “It is focusing on low-income individuals (predominantly women) and micro/small enterprises by providing affordable access to finance, savings, credit and insurance in urban and rural areas.

    “The MfB will also expand its geographic coverage and number of branches,’’ the statement explained.

    According to the bank, with the loan, multi-faceted development outcomes are expected for LAPO MfB.

    “It will increase the proportion of poor households and small businesses with access to financial services in Nigeria and its financial sector infrastructure, as it plans to expand their branch network.

    “The funding will also stimulate product development aimed at meeting diverse needs of low-income households and local enterprises, including a soft loan scheme to provide clients a more convenient and safe solar powered lanterns.

    “It will enhance financial inclusion of women and female entrepreneurs and support increased revenue for poor households,’’ the bank added.

    In spite of its lower-income client base, LAPO’s total loan portfolio exceeded N40 billion ($200 million) in December last year due to its efficient decentralised banking model.

    LAPO has achieved its goal to reach over one million clients by end of 2013, and is targeting to reach five million clients by the end of its five-year business plan (2013-2017).

    It has 3,184 workers across 327 branches to prospect for new business and effectively serve its existing customers on the ground.

  • LAPO gives research grants to students

    The Lift Above Poverty Organisation (LAPO) has given research grants to nine post graduate students in four Nigerian universities.

    Six students undergoing their Masters programme at the Nmamdi Azikiwe University, Ambrose Alli University and University of Benin were given N100,000 support grant.

    Three others studying Sociology at the University of Ibadan were given N200,000 each as support grant for their Ph.D thesis.

    Chairman of Governing Council of LAPO, Godwin Ehigiamusoe, said his decision to begin giving out research grant for post graduate students was to help build future leaders.

    Godwin said many countries are growing because students’ researches are well funded.

    He promised to sustain the grant in addition to the scholarships his organisation provides for secondary school pupils.

    One of the beneficiaries, Chinwuba Oyinye, said the grant would help her complete her project work