Oando seals pact with LAPO on access to cooking gas

Wednesday, September 5, 2012

Following its plan to switch millions of Nigerians from biomass to a clean and sustainable cooking gas, Oando Marketing Plc has entered into an agreement with Lift Above Poverty Organisation Microfinance Bank (LAPO) to provide soft loans for low-income households in Nigeria to purchase Liquefied Petroleum Gas (LPG).

The agreement was signed by Chief Executive Officer, Oando Marketing Plc, Yomi Awobokun, Chief Financial Officer, LAPO, Dr. Kamakhya Singh, and Managing Partner Alitheia Capital, Tokunboh Ishmael in Lagos, recently.

Awobokun pointed out that this is another important step in the quest to provide innovative and affordable LPG cooking stoves to an estimated five million low income households over the next five years.

According to him, “we are strongly encouraged by the reception and feedback from consumers and other relevant stakeholders since we introduced the three-in-one gas cooking stove this year.

“This partnership with LAPO is one of many to boost our effort to switch majority of Nigerians from the use of biomass fuel to deepen LPG utilization,” he said.

Also speaking, Singh said: “We are pleased to be part of a truly remarkable program that will undoubtedly provide a healthier cooking people at the bottom of the pyramid as the first MFB to sign up.

Source: The Guardian Nigeria (link opens in a new window)

Categories
Uncategorized
Tags
Base of the Pyramid, microcredit, poverty alleviation