Federal Government Launches Digital Project Board to Boost Nigeria’s Equipment Leasing Industry
The Federal Government has inaugurated a ministerial project approval board to drive digital transformation in Nigeria’s equipment leasing sector. The initiative, launched by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in Abuja, marks a key milestone in modernizing the Equipment Leasing Registration Authority (ELRA) and strengthening Nigeria’s leasing ecosystem.
According to a statement from the Ministry of Finance’s Director of Information, Mohammed Manga, Edun also chaired the board’s first review session, which examined a public-private partnership (PPP) proposal from ELRA. The proposal focuses on digitizing regulatory operations, improving transparency, and expanding access to financing, especially for small and medium-sized enterprises (SMEs) that depend on leasing to acquire essential equipment and technology.
The minister emphasized the importance of due process and accountability, noting that the new board will ensure all PPPs deliver value for money and tangible economic results. “This administration is committed to partnerships that leverage private capital and innovation to deliver real economic value,” Edun stated. “Our focus is on reforms that stimulate investment, productivity, and job creation.”
ELRA’s registrar and CEO, Donald Wokoma, presented the authority’s transformation plan, which includes deploying digital platforms, promoting industry development, and introducing training programs to boost participation across the leasing sector. Private-sector stakeholders at the event expressed strong support for the initiative, pledging to provide the technology and funding needed to make equipment financing more accessible and efficient.
The inauguration of the ministerial project approval board reinforces the government’s commitment to strengthening Nigeria’s business environment through digital innovation. By modernizing the equipment leasing industry, the initiative is expected to unlock new investment opportunities, empower local enterprises, and drive inclusive economic growth nationwide.
source: Leadership