Federal Gov’t Inaugurates Project Approval Board For Equipment Leasing Registration Authority

The federal government has inaugurated a ministerial project approval board for the advancement of a digital transformation partnership with the Equipment Leasing Registration Authority (ELRA).

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun inaugurated the approval board in his office in Abuja yesterday, according to a statement by the director of information in the ministry, Mohammed Manga. He also presided over its first review session, considering a public-private partnership proposal from the Equipment Leasing Registration Authority (ELRA) to modernise Nigeria’s leasing industry.

The initiative aims to digitise regulatory processes, strengthen market transparency, and expand access to equipment finance for Nigerian businesses, particularly SMEs that rely on leasing to acquire machinery, vehicles, and technology critical for growth.

The minister commended the project’s clarity and stressed that the Board would uphold rigorous 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.

Edun noted that the Board would serve as a key mechanism to fast-track responsible private-sector investment under the Ministry, ensuring PPPs are structured to protect public interest while enabling sustainable economic development.

Speaking earlier, the ELRA registrar and CEO Donald Wokoma presented the transformation plan, which includes digital platforms, industry development initiatives, and capacity-building programmes designed to deepen participation in the leasing sector and support enterprise-led growth. Private-sector partners reaffirmed their commitment to deploying technology and finance solutions that broaden business access to leasing and strengthen the operating environment.

The inauguration of the Ministerial Project Approval Board and the advancement of the ELRA digital transformation partnership mark significant milestones in Nigeria’s economic development. The Federal Government remains committed to fostering partnerships that drive economic growth, investment, and job creation, and looks forward to working with private sector partners to achieve these goals.