LAPO Microfinance Bank has reaffirmed its commitment to supporting small businesses and expanding financial inclusion after emerging as the Best Microfinance Bank Supporting Small Businesses and Microfinance Bank of the Year 2025 at the 6th edition of the Nigeria National SME Business Awards.
The awards, presented by the Association of Small Business Owners of Nigeria in collaboration with the Lagos State Ministry of Commerce, Cooperatives, Trade and Investment, recognised the bank’s contributions to the growth of small and medium-scale enterprises across the country.
The recognition comes amid increasing calls for stronger financial support for Nigeria’s SME sector, which remains a major contributor to employment and economic activities but continues to face challenges accessing credit and sustainable funding.
Organisers of the awards said LAPO Microfinance Bank was honoured for its measurable impact in promoting financial inclusion, expanding access to finance for entrepreneurs, and delivering innovative financial solutions targeted at small businesses.
Receiving the awards on behalf of the bank, the Director of Marketing and Communication, Oluremi Akande, described the recognition as a reflection of the institution’s long-standing commitment to empowering entrepreneurs and strengthening the SME ecosystem.
According to Akande, small businesses remain central to Nigeria’s economic development, adding that the bank would continue to provide inclusive financial services tailored to the needs of entrepreneurs across different sectors.
“This recognition underscores our unwavering commitment to supporting small businesses, which are critical to Nigeria’s economic growth and development. At LAPO Microfinance Bank, we remain focused on providing inclusive financial services that enable entrepreneurs to grow and sustain their businesses,” he said.
He further stated that the bank planned to deepen its interventions in the SME sector through innovative financial products, capacity-building programmes, and strategic partnerships designed to improve business sustainability and access to funding.
Akande noted that the awards would further encourage the institution to scale its impact and reach more entrepreneurs, particularly operators in underserved communities who often struggle to obtain financing from conventional financial institutions.
“We are honoured by this recognition and encouraged to do more. Our goal remains to scale our impact and ensure that more small business owners have access to the financial tools and support they need to succeed,” he added.
Industry stakeholders at the event stressed the importance of strengthening support systems for SMEs, describing the sector as a critical driver of economic diversification, job creation, and poverty reduction in Nigeria.
They also highlighted the growing role of microfinance banks in bridging financing gaps for small business owners, especially at a time when many entrepreneurs are grappling with rising operational costs, inflation, and limited access to affordable credit.
The Nigeria National SME Business Awards is an annual initiative aimed at celebrating organisations and institutions that have demonstrated excellence in supporting the SME ecosystem through sustainable business practices, structured interventions, and policies that promote enterprise development.
Over the years, the awards have become a platform for recognising businesses and financial institutions that contribute significantly to entrepreneurship development and economic growth in Nigeria.
LAPO Microfinance Bank has continued to position itself as one of the leading institutions providing financial support and empowerment programmes for small businesses, women entrepreneurs, and low-income earners across the country.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
