ABUJA – In a move to modernise a key sector of the economy, the Federal Government has inaugurated a Ministerial Project Approval Board to oversee the digital transformation of the Equipment Leasing Registration Authority (ELRA).
The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, inaugurated the board, which will review a public-private partnership (PPP) proposal designed to digitise Nigeria’s leasing industry.
The initiative aims to streamline regulatory processes, enhance market transparency, and, crucially, expand access to equipment finance for Nigerian businesses. This is expected to be a significant boost for Small and Medium-sized Enterprises (SMEs) that rely on leasing to acquire essential machinery, vehicles, and technology.
Minister Edun emphasised the administration’s commitment to partnerships that leverage private capital for economic growth. He stated the Board would ensure all PPPs meet rigorous standards of due process, value for money, and public accountability.
The Registrar/CEO of ELRA, Donald Wokoma, presented the transformation plan, which includes new digital platforms and capacity-building programmes to deepen participation in the leasing sector and support enterprise-led growth.
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Disclaimer: This article is based on a press release from the Federal Ministry of Finance. CDA News reports this development as a matter of public and business interest and is not involved in the approval process or partnership.
