Ehigiamusoe: Financial Service Providers Critical to Curbing Inflation

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Sunday Ehigiator

The Founder and C.E.O, Lift Above Poverty Organisation (LAPO), Dr. Godwin Ehigiamusoe, has revealed that the role of financial service providers is very critical in curbing the rising inflation in the country.

He made this known during the official launch of his biography titled, ‘”Touching Lives: My LAPO Story,” held over the weekend in Lagos State.

According to him, “we are in a time where there is so much in terms of economic crises and the impact on the ordinary people. On one hand is high interest rate, and on the other hand is ever rising inflation rates and prices of basic commodities.

“When you have rising inflation rate, the segment of the society that usually take the heat is usually the people at the bottom end of that society. To address that would mean, providing them with enough opportunities and resources to address those challenges.

“For instance, to enhance their productivity, in that case you would need financial services. Financial service providers play a very vital role in curbing the effect of inflation, especially those in the socio-enterprises space such as LAPO. Entrepreneurs basically need to remain afloat irrespective of inflation and we are like the shock absorber for them at very considerate and affordable rates.

“Also, these people at the bottom of the pyramid also need money to deal with other challenges such as health challenges etc. Financial service providers in the socio-enterprise space, creates access to affordable health services to such people.”

“I was at the very beginning of the industry nationally and globally., and I felt that I have a lot of lessons to pass on to people who aren’t only interested in microfinance but also in enterprise. So this was why I decided to do the book. Just like most biographies, you will find out how I started LAPO’s foundation even before it became what it is today. That has been clearly outlined in the book.