Business

LAPO spent over N1.2trn to assist female business owners, others — CEO

The founder and CEO, of Lift Above Poverty Organisation (LAPO) Microfinance Bank, Dr Godwin Ehigiamusoe has said that the Bank spent over N1.2 trillion on female owners of micro and small businesses.

He said the fund also covered the LAPO NGO’s rural healthcare programmes which include the LAPO Community Based Cancer Project, and awareness activities and interventions in the areas of malaria, HIV, Hepatitis, Blood Sugar, blood pressure screening and referral services while Twenty Million printed enlightenment materials/ Information, Education and Communication (IEC) were distributed in target communities.

Speaking at the 30th Annual LAPO Development Forum held in Abuja, Dr 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.

The LAPO CEO further said that amongst these are 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.

“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.

“The paper is expected to highlight over N1.2trn LAPO MfB has delivered to female owners of micro and small businesses; LAPO NGO’s rural healthcare programmes which include the LAPO Community Based Cancer Project.

“Others include awareness activities and interventions in the areas of malaria, HIV, Hepatitis, Blood Sugar, blood pressure screening and referral services while Twenty Million printed enlightenment materials/ Information, Education and Communication (IEC) were distributed in target communities”, he noted.

Also, the Chairman of the occasion, Dr Sarah Alade who is also a Former Acting Governor of the Central Bank of Nigeria (CBN), said with theme of this year’s event, “The Role of Non-State Actors in National Development: A Case Study of LAPO,” underscores the pivotal role that organizations like LAPO play in shaping the destiny of our nation, it is imperative to recognize 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.

Dr Alade said to realize these objectives, a significant financial commitment is essential, stating that the government alone cannot shoulder the immense financial burden required to meet these targets.

“To put it in context, the estimated cost of the National Development Plan 2021 to 2025 stands at 348 trillion naira, with government contributing 49.7 trillion and the private sector providing approximately 298 trillion, which accounts for about 86 percent of the total required amount”, she noted.

She said the pace of the present and future growth will depend on how effectively the country leverage the potential of Non State Actors (NSAs) in a mutually beneficial environment.

The Former CBN Acting Governor urged LAPO MFB to stand up and be counted as one of the NSAs leading the change and transformation to build a new Nigeria.

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.

He said NSAs are involved in the provision of basic services like education, security, health care, infrastructural development, water supply.

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.

He said LAPO has taken the bold step as a non-state actor in piloting social, health and livelihood programmes across the country aimed at empowering and lifting the poor and vulnerable from the grip of poverty, ignorance and disease.

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