Nigeria’s leasing industry is set to record stronger and more sustainable growth in 2026, supported by improving macroeconomic stability, regulatory reforms, and sustained demand for asset-based financing across key sectors of the economy.
This was revealed in the Nigerian Leasing Industry Outlook, 2026, themed: Continued Growth Amid Macroeconomic Stability.
According to the report, with outstanding lease volumes already above N5 trillion and projected to maintain double-digit growth, industry operators said leasing is increasingly becoming a critical financing channel for businesses navigating high interest rates, rising asset costs, and tight credit conditions.
The report showed that the industry’s recent performance underscores its resilience and strategic importance to Nigeria’s economic development.
“Despite inflationary pressures, foreign exchange volatility and elevated financing costs, leasing companies have continued to support productive activity by enabling access to essential assets.”
Industry data showed that outstanding lease volumes rose to over N5.16 trillion in 2024, representing a 23.2 per cent year-on-year increase. Growth momentum remained intact in 2025, with total outstanding leases climbing to approximately N5.36 trillion in the first quarter, up 3.7 per cent from end-2024 levels. Market operators expect full-year 2025 figures to confirm another round of double-digit growth, reinforcing leasing’s expanding role within Nigeria’s financial system.
Commenting on the development, the Chairman, Board of Directors of the Equipment Leasing Association of Nigeria (ELAN), Mrs. Ehigiamusoe Elizabeth Ngozi, said that the demand from the industry has been strongest in transportation and logistics, oil and gas, manufacturing, and infrastructure, driven by ongoing infrastructure deficits, logistics expansion, and the replacement of ageing assets.
“Vehicle and fleet leasing remain dominant, accounting for more than half of total leased assets, reflecting Nigeria’s logistics-driven economy and rising mobility needs across both the public and private sectors.”
She said the sharp rise in asset acquisition costs over the past two and a half years, following fuel subsidy removal and foreign exchange market liberalization, has further strengthened the appeal of leasing.
But allowing businesses to match asset usage with revenue generation, leasing has emerged as a preferred option for preserving liquidity and managing balance sheet exposure.
Industry operators also highlighted emerging growth opportunities in agriculture, healthcare, telecommunications, education, and renewable energy. They noted that improved regulatory clarity following the implementation of the Equipment Leasing Act and the commencement of operations of the Equipment Leasing Registration Authority (ELRA) has enhanced asset ownership protection, contract enforceability, and investors’ confidence
