Get Guardian on GoogleEquipment Leasing Association of Nigeria (ELAN) has called for stronger collaboration among stakeholders to drive growth, innovation and sustainability in Nigeria’s equipment leasing industry.
The Board Chairman of the association, Ehigiamusoe Elizabeth Ngozi, made the call at the 23rd National Lease Conference held in Lagos.
Ehigiamusoe said the yearly gathering, regarded as the largest forum for stakeholders in the leasing ecosystem, served as a platform to discuss key issues affecting the sector, explore emerging opportunities and shape policy direction.
According to her, the industry has recorded remarkable growth in recent years, with the value of outstanding leases rising to N5.16 trillion in 2024, up from N4.19 trillion in 2023, representing a 23.2 per cent increase.
She added that the new lease contracts during the period stood at about N973 billion, while cumulative leasing value over the last decade was estimated at N24.6 trillion.
“These figures demonstrate the resilience and capacity of leasing to bridge Nigeria’s investment gap and stimulate asset acquisition across sectors such as oil and gas, transportation, manufacturing, telecommunications, healthcare, agriculture, and construction,” she said.
Ehigiamusoe observed that leasing remained a crucial instrument for economic growth, especially in providing small and medium enterprises access to equipment without the heavy burden of upfront capital.
