Sterling Bank backs Entrepreneurs to fix Nigeria’s water crisis

Sterling Bank has introduced a new financing product, the Sterling WASH Business Loan, designed to help businesses and service providers in the water and sanitation sector expand their impact.

Access to clean water and proper sanitation remains a major challenge for many Nigerians, affecting health, income, and overall quality of life. The loan, launched in partnership with Water.org and the Sterling One Foundation, targets companies and entrepreneurs delivering tangible solutions in communities where clean water and proper toilets are still limited.

Abubakar Suleiman, managing director of Sterling Bank, said the bank is committed to supporting entrepreneurs who are solving everyday challenges. According to him, the loan will enable WASH operators to expand their services and reach more families. “When we invest in people delivering essential services, we invest in the future of our communities,” he said.

Gilbert Guma, representing Water.org, highlighted the financing gap that many households and small WASH businesses face. “Finance has been the missing link for too many people,” he said. “Once families and entrepreneurs have access to affordable loans, everything else begins to change.”

Olapeju Ibekwe, CEO of Sterling One Foundation, added that the foundation is committed to projects that improve lives. “Water is the foundation for health, dignity, and opportunity, and this partnership makes it possible for more families to access safe water without waiting years for help,” she said.

At the panel session, participants shared insights from their work in the sector. Samuel Onyinitan of Sterling Bank noted that many small WASH businesses face strong demand but lack the capital to scale. “These entrepreneurs know their communities better than anyone. What they need is support to grow,” he said.

Mukhtaar Temitope of the Lagos State Water Corporation emphasized the role of the private sector in addressing the rising demand. “The government cannot do this alone. We need trusted partners who can bring innovation and financing,” he explained.

Pendoassawe from Water.org Tanzania shared lessons from East Africa, highlighting that small WASH businesses grow faster when financing is paired with technical support. “Affordable credit helps water providers expand their services, but long-term impact comes from ensuring they have the skills, tools, and guidance to sustain that growth,” she said.

The launch event brought together development partners, small business owners, policymakers, and WASH stakeholders to discuss how better financing and stronger partnerships can help close Nigeria’s water and sanitation gap.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.