The Federal Government has projected a 20 percent growth rate for Nigeria’s equipment leasing sector in 2025, following a new partnership to strengthen asset-based financing.
The Equipment Leasing Registration Authority (ELRA) announced the projection after formalising a collaboration with the National Collateral Registry (NCR) to improve the registration and use of movable assets as security for loans. ELRA’s Registrar/CEO, Donald Wokoma, said the sector recorded ₦5.1 trillion in lease volume in 2024 and is poised for further expansion.
The partnership aims to foster a more secure and inclusive credit system, giving small and medium-sized enterprises better access to financing. Both ELRA and NCR expressed confidence that the initiative will boost job creation, empower SMEs, and drive nationwide economic growth.