Godwin Ehigiamusoe, founder of Lift Above Poverty Organization (LAPO) Group, who hails from the Ugha community in Uhunmwode Local Government Area of Edo State has demonstrated and acted on the admonition of the civil rights protester, Martin Luther King Jnr which stated that "Whatever affects one directly, affects all indirectly. I can never be what I want to be until you are what you ought to be."
It is generally know that business ideas are always generated from past experience, needs, career, Passion and Problem. Those who are able to see positivity in any saga and curious about solving the hullabaloo always give birth to a sort-after business that cannot be downcast.
The bible says poor shall not cease from the land. The reference means a lot to creative minded people who cares and provide succor to people living in penury. Research indicated that about 70 per cents Nigerians are living below poverty line which comprises of about 45 percent women and 25 per cent men respectively. An average Nigerians are feeding on less than one dollars per day, a research declared.
He derived his business concept from being his brother's keeper according to Matthew 11:24 When I was thirsty, ye gave me water, needed shelter you gave me cloth... says the holy book.
To him success means nothing if he cannot help others to attain an appreciable degrees of success in life. He has ignored his own accomplishments to get care about the lives of others, especially the poor and those that do not have access to the means of wealth creation.
Brand Identity and Genesis
As a co-operative officer in the civil service of the then Bendel State (now Edo state), Ehigiamusoe regularly came in contact with different classes of people with varying needs of diverse struggle for survival. All these happened during General Ibrahim Babangida regime in the late 1980s when the Structural Adjustment Programme was launched after the administration left many Nigerians more pauperized than it lifted them out of poverty. He then discovered that if the effort to improve the living conditions of Nigeria's poor population was to yield any result, it requires both government and private sector involvement.
In 1987, LAPO was birth with the aim of helping Nigerians living below specified standard of living (Penury) to shackles of poverty through access to credit facilities that would enable them to invest in micro, small and medium scale enterprises. With this innovation, he envisioned that it would improve their standards of living and enable them to create wealth by becoming employers of labour.
In the 1990s, he transformed the organization to a micro finance institution and incorporated social development programmes that would touch the lives of the huge number of people into its schedule. The organization provides an array of poverty alleviation programmes that cater for socio-economic issues such as poverty, ill-health, poor nutrition, low self-esteem, ignorance, social exclusion, gender inequality, etc.
Business Target
LAPO business concept is centered mostly on vulnerable population, who are rural dwellers, those who constitute the bulk of the country's population, especially women and children, as well as the urban poor who have no access to any form of empowerment.
Foray into micro finance banking
Policies are great determinant factor of every business stability. To some it can lead to prosperity and to other business obituary. With the advent of the micro finance policy by the Federal Government of Nigeria, Ehigiamusoe and his dream team to advantage and worked hard to move LAPO to the next level of operation by incorporating it as LAPO Microfinance Bank Limited which was first issued license to operate at the state level. Later, it got the Federal Government's approval to operate as a national financial institution and progressed to obtain license to operate across Nigeria's borders, where it became the leader in micro, small and medium enterprises financing in sub-Saharan Africa. It is the first micro finance bank in the country to attain that status.
Footprints
Without gainsaying, Dr. Ehigiamusoe has lifted a huge number of Nigerians and non-Nigerians out of poverty. The institutions records in 2016, 2017, 2018, 2019 and till date revealed the soaring tempo of the organisation in supporting less privilege under the umbrella of LAPO both outside and within the country.
Over the years, the organization has given birth to many subsidiaries under its wings, namely, LAPO Institute, a centre for research and training in micro finance and enterprise development, Micro-Investment Support Services, which is into micro-leasing business and LAPO Microfinance Company, Sierra Leone.
He has brought joy to many homes. Many who were job seekers yesterday are today job providers. It is sarcasm to say that he has lifted many people out of poverty because his innovation has helped numerous women to break the axiomatic glass ceiling of attaining heights they never dreamt of.
For over 3 and half decade, LAPO Microfinance Bank has provided a wide range of financial services to millions of Nigerians in the urban and rural areas. It has been a great catalyst to the establishment and growth of hundreds of thousands of small businesses with positive impact on the nation's economy.
Before the advent of micro financing institution in the country, Small medium enterprises (SMEs) dont have access to bank credit facilities due to their very stringent conditions that are in most cases difficult to meet. There is a saying that It was far easier for a camel to pass through the eye of the needle than for owners SMEs to access credit from the conventional banks.
Halleluyah! Ehigiamusoe entrance rescued and contributed significantly to the growth of microfinance banking in Nigeria beyond lifting individuals out poverty. He made valuable contributions to the formulation of Nigeria's micro finance policy and regulatory framework that guides operations in the sector. He also contributed to the various initiatives aimed at enhancing capacity development in the sector.
He encourages that more dedicated refining institutions are needed to make provision for credit to small businesses easier because they are the key factor of the Nigeria's economic development, as it is in the industrialized countries of the world. Though Bank of Industry (BOI) and the Development Bank of Nigeria (DBN) are trying their best in this regard, but Oliver twist want more.
Educational Background & Awards
Ehigiamusoe holds Bachelor's and Master's degrees in the Social Sciences from the University of Benin. As busy as he is, he still create time to study and obtain a PhD in Policy and Development from Ambrose Alli University, Ekpoma.
His commitment towards eradication of poverty in Nigeria earned him many awards recognition of what he has used LAPO to do in Nigeria and the West African sub-region.
He was awarded Doctor of Science (Honoris Causa) from the University of Benin in 2016. Schwab Foundation's Outstanding Entrepreneur for Africa Award in 2010. and Model Entrepreneur Award, Nigeria in 2008.
In 2006, Ehigiamusoe did something quite outstanding in the annals of awards. He invested the $10, 000 cash that came with the Excellence in Microfinance Award from the Grameen Foundation in the LAPO Scholarship Scheme. The scheme is for brilliant children of LAPO clients and less privileged students. He is married with children.
Piece of Advice
Ehigiamusoe believes that the easiest way to eradicate poverty in Nigeria is liberalization of access to financial inclusion through provision of affordable credit for small businesses. He describes Nigerians as exceptionally enterprising and capable of working themselves out of poverty if given the opportunity. He therefore urges the government to focus primarily on provision of support for micro, small and medium enterprises. He appreciated the effort of the central bank of Nigeria for diverse palliatives given to SMEs to cushion the effects of Covid 19 Pandemic.
Likewise, Every organisation should do their part to eradicate poverty by investing in the lives of the less privilege for economic sustainability.
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