LAPO Microfinance Bank (LAPO MfB), Nigeria’s premium financial institution, convened key development stakeholders, researchers, and financial inclusion experts for a landmark workshop titled “Presentation of Findings from the WASH Market Research Survey.”
Held at LAPO Place, Maryland, Lagos, the event spotlighted the success and future direction of the bank’s Water, Sanitation and Hygiene (WASH) Loan Program — reaffirming LAPO MfB’s commitment to public health advocacy and Sustainable Development Goal (SDG)6: Clean Water and Sanitation.
In her opening remarks, Cynthia Ikponmwosa, Managing Director of LAPO Microfinance Bank, emphasized the institution’s resolve to bridge the financing gap in Nigeria’s WASH sector through innovative loan products. “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.
Evbuomwan Efosa, Head of Research and Business Development at LAPO MfB, 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. The data highlighted the adoption trends, demographic preferences, repayment behaviors, and socio-economic impact indicators across targeted regions. “The findings reveal a significant correlation between microfinance access and improved household hygiene practices, especially among women-led households. Our data underscores that WASH financing is both a health intervention and an economic empowerment tool,” Efosa noted.
Key findings revealed that 70% of households still lack access to affordable WASH loans, with urgent demand for toilets (78%), clean water access (65%), and hygiene facilities (52%). Regional disparities were pronounced, particularly in Kano, Taraba, and Nasarawa, where water access lags at 35–61% and open defecation rates exceed 43%. Households expressed preference for small-ticket loans below N500,000 with interest rates of 12–15% per annum and flexible repayment periods between 12 and 24 months.
Also, 60% of respondents were unaware of WASH-specific loans, highlighting the urgent need for awareness creation and behavior change communication. WASH-focused SMEs, including water vendors and sanitation service providers, indicated a need for loans exceeding N1,000,000, as well as collateral-free options and technical support.
To address the identified gaps, LAPO MfB proposed piloting targeted household loans ranging from N100,000 to N200,000 in high-need states such as Taraba and Nasarawa. The bank also plans to expand SME financing using group-based lending models and intensify community outreach via cooperative societies, market unions, and faith-based organizations.
In his remarks, Gilbert Okpono, Senior Account Partnership Manager of Water.org- a strategic partner to LAPO MfB on its WASH initiative- stated, “This partnership underscores our shared values of improving lives and commitment to environmental stewardship by providing equitable opportunities. The LAPO MfB WASH loan model exemplifies how sustainable finance can uplift underserved populations. We’re proud to partner with LAPO MfB in scaling this vision and making access to safe water a reality for more Nigerian families.”
The workshop concluded with a high-level roundtable dialogue featuring policymakers, microfinance leaders, civil society actors, and development partners. Discussions focused on strategies to scale impact, strengthen partnerships, deploy digital financial products, and enhance data collection and impact evaluation
LAPO Microfinance Bank remains committed to its over 30-year mandate of social and economic empowerment of low-income households and owners of micro, small, and medium enterprises in a sustainable manner.
