Oando's Pay-As-U-Gas metering system
Oando Marketing PLC (OMP), enters into an agreement with Lift Above Poverty Organization Microfinance Bank (LAPO) to provide soft loans for low-income households in Nigeria to purchase Liquefied Petroleum Gas (LPG) or cooking gas.
The initiative is in line with OMP’s plan to switch millions of Nigerians from biomass to a clean, efficient, affordable and sustainable LPG using Oando’s OGAS 3kg cooking stove, an integrated offering that comes with a cylinder, burner, and gas.
The agreement was signed by Yomi Awobokun, Chief Executive Officer , Oando Marketing PLC; Dr. Kamakhya Singh, Chief Financial Officer, LAPO, and Tokunboh Ishmael, Managing Partner Alitheia Capital on Thursday, August 30, 2012 at Oando’s headquarters in Lagos.
Access to LPG by the low income group has been hindered primarily by affordability and accessibility. To address the issue of affordability, OMP introduced a portable 3kg cylinder to suit the purchasing power of this socio-economic group. The cooking stove cost N6,800 and customers can refill with any amount they can afford per time through the company’s Pay-As-U-Gas metering system or swap the cylinders for an outright refill at N800.