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Sunday Ehigiator

LAPO Microfinance Bank has revealed that about 70 per cent of Nigerian households lack access to affordable loans for water, sanitation, and hygiene (WASH) infrastructure.

The bank revealed this at a recent workshop where it presented findings from its WASH Market Research Survey, held recently at the bank’s headquarters in Maryland, Lagos.

In her opening remarks, the Managing Director of LAPO Microfinance Bank, Cynthia Ikponmwosa, emphasised the institution’s resolve to bridge the financing gap in Nigeria’s WASH sector through innovative loan products.

According to her, “Access to clean water and safe sanitation is not only a basic human right but a catalyst for economic productivity, education, and women’s empowerment. Through our WASH loan program, LAPO MfB is enabling households to invest in infrastructure that transforms lives and protects future generations,” she said.

In his address, Head of Research and ������Ƶ Development at LAPO MfB, Evbuomwan Efosa, presented critical insights from the research, which was conducted across six states representing Nigeria’s geopolitical zones: Anambra, Edo, Kano, Lagos, Nasarawa, and Taraba.

The study covered 1,500 households and 600 WASH-sector SMEs and employed a mixed-methods approach comprising surveys, interviews, and reviews of local and international WASH financing literature.

In his remarks, Senior Account Partnership Manager at Water.org, a strategic partner to LAPO MfB on its WASH initiative, Gilbert Okpono, noted that, “This partnership underscores our shared values of improving lives and commitment to environmental stewardship by providing equitable opportunities.”