No fewer than 4,000 young Nigerians have benefited from the LAPO Microfinance Bank Scholarship Scheme, with an estimated investment of N650 million since the programme began in 2008. This was disclosed by the Managing Director of LAPO Microfinance Bank, Mrs Cynthia Ikponmwosa, during the 2025 scholarship award ceremony held in Benin yesterday. She stated that 451 students benefited from the scholarship this year alone, reflecting the bank’s continued commitment to education support, youth empowerment, financial inclusion and poverty alleviation.
Represented by the Head of Stakeholders Engagement, Mrs Amen Akenbor, Ikponmwosa explained that the 2025 scholarship covered a total of 451 beneficiaries, comprising 246 from secondary schools and 185 from vocational skill acquisition programmes. She said the initiative is designed to support talented but financially challenged young people across the country. According to her, “Through this initiative, we are building a generation of educated and empowered young people who will, in turn, uplift others.” She added that LAPO Microfinance Bank believes education and skills acquisition remain powerful tools for reducing poverty and improving long-term economic growth.
In his remarks, the Chairman of the event, Senator Matthew Uroghide, represented by Emwinghare Osa-Kindness, said the LAPO MFB education empowerment programme had contributed to better employment outcomes, reduced poverty, and stronger institutions across communities.
Also speaking, the Chairperson of the LAPO Scholarship Board, Prof. Christiana Okojie, said the scheme, which initially focused on secondary education, expanded in 2011 to include university scholarships to support students from low-income families who needed help to continue their education.
