Firm Seeks Wider Productive Asset Access For SMEs, Businesses

LECON Finance Company Limited has called for wider access to productive assets for small and medium-sized enterprises (SMEs) and other businesses in Nigeria, saying affordable asset financing is essential to improving productivity, driving enterprise growth and accelerating economic development.

The Managing Director of the company, Ebehiriere Ehi-Omoike, said many micro, small and medium-sized enterprises (MSMEs) continue to face significant challenges in acquiring essential equipment and machinery because of limited access to affordable financing.

In a statement, she said the financing gap has constrained productivity, competitiveness and job creation across key sectors of the economy.

According to Ehi-Omoike, expanding access to asset financing would enable businesses to invest in modern technology, improve operational efficiency and scale their operations without placing excessive pressure on their working capital.

She described financing productive assets as a key driver of sustainable economic growth and industrial development.

The development-focused leasing company and subsidiary of the Bank of Industry (BoI) also announced a strong financial performance for the year ended December 31, 2025.

Profit after tax (PAT) rose by 215 per cent to N2.39 billion in 2025 from N757.7 million in the previous year.

Total revenue increased by 63.4 per cent to N8.31 billion, while profit before tax (PBT) climbed 172.7 per cent to N3.39 billion. Total assets expanded by 52.2 per cent to N33.14 billion, while shareholders’ equity more than doubled to N8.63 billion.

Finance lease advances grew by 54.8 per cent to N10.29 billion, reflecting increased demand for productive asset financing.

LECON Finance said its lease portfolio stood at N23.55 billion as of December 2025, with 38.3 per cent supporting climate and green energy initiatives, while 15.74 per cent of financing was directed to women- and youth-led businesses.

The company added that it continued to support food production and agro-processing, helping businesses improve productivity, create jobs and contribute to economic development.