The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has officially inaugurated the Ministerial Project Approval Board (MPAB) and presided over its first review session, which included the consideration of a public-private partnership (PPP) proposal from the Equipment Leasing Registration Authority (ELRA). The initiative seeks to modernise Nigeria’s leasing industry through digital transformation.

The proposed project aims to digitise regulatory processes, improve market transparency, and expand access to equipment finance for Nigerian businesses, particularly small and medium-sized enterprises (SMEs) that depend on leasing to acquire machinery, vehicles, and technology essential for growth.

Commending the clarity of the project, HM Edun emphasised that the Board will maintain high standards of due process, value for money, and accountability across all PPPs.

“This administration is committed to partnerships that leverage private capital and innovation to deliver real economic value. Our focus is on reforms that stimulate investment, productivity, and job creation,” he said.

ELRA Registrar and CEO, Mr. Donald Okuma, presented the authority’s transformation plan, which includes digital platforms, industry development initiatives, and capacity-building programmes aimed at deepening participation in the leasing sector and supporting enterprise-led growth.

Private-sector partners reaffirmed their commitment to deploying technology and financing solutions to broaden business access to leasing and strengthen the industry’s operating environment.

HM Edun concluded that the MPAB will serve as a critical mechanism to fast-track responsible private-sector investment under the Ministry, ensuring PPPs are structured to protect public interest while promoting sustainable economic development.