By PRIMETIME
Ekondo Microfinance Bank has partnered a sanitation-focused non-governmental organisation, Toiletpride Initiative, to roll out a multi-million-naira financing scheme aimed at reducing open defecation and improving access to household toilets.
The initiative, tagged Sanitation Financing for Low-Income Families, is designed to provide affordable loans to low-income households and small sanitation businesses, using a market-based approach to address sanitation gaps.
The partnership comes amid growing concerns over Nigeria’s sanitation crisis, particularly in Cross River State, where official data indicate that about 80 per cent of residents lack access to improved sanitation facilities.
Speaking at a technical meeting on the project, the Managing Director of Ekondo Microfinance Bank, Charles Abiola Efedoama, said the scheme aligned with the bank’s commitment to inclusive finance and community development.
He said, “We are glad to be part of this project. As a bank, we already run a WASH initiative internally, and partnering with Toiletpride will enable us to create a massive impact across communities.”
Efedoama urged residents to embrace the programme, stressing that improved sanitation practices would translate into better health outcomes and increased productivity.
“Good sanitation saves lives. Where hygiene practices are improved, health conditions are more stable, and people are more productive,” he added.
The Executive Director of Toiletpride Initiative, Chukwuma Nnanna, described sanitation as a viable economic sector with significant job creation potential.
“Sanitation is business. Our assessment shows that the sanitation economy in Cross River State alone is worth over N150bn. This means opportunities for small businesses to grow, improve livelihoods and create jobs,” he said.
Under the partnership, Ekondo Bank is expected to provide enterprise expansion loans of between N300,000 and N500,000 to sanitation entrepreneurs, alongside consumer loans ranging from N70,000 to N100,000 for households to purchase durable toilets.
The pilot phase of the scheme will focus on selected local government areas, including Yala, Obubra and Odukpani, leveraging existing sanitation business networks supported by Toiletpride and its development partners.
Stakeholders said the initiative reflected increasing reliance on public-private partnerships and market-driven solutions to help Nigeria meet its sanitation and public health targets.
