Navy Pledges Support For Equipment Leasing Act

The Nigerian Navy has pledged full support for the Equipment Leasing Registration Authority (ELRA) in enforcing the Equipment Leasing Act, 2015.

The assurance was given by the Chief of Naval Staff, Vice Admiral Idi Abbas, during a courtesy visit by ELRA officials to the Naval Headquarters in Abuja.

In a statement issued by ELRA’s head of media and corporate communication, Adebola Brookslyn Sunday, the registrar and chief executive officer, Mr Donald Wokoma, reaffirmed the authority’s commitment to strengthening transparency and accountability in the leasing sector.

“ELRA promotes leasing as a driver of economic growth and ensures leased assets are properly registered and traceable to enhance transparency and maritime enforcement,” Mr Wokoma said.

Responding, the Chief of Naval Staff described asset registration as critical to economic stability within the maritime domain.

“The Nigerian Navy stands ready to collaborate with ELRA, as effective asset registration strengthens economic activity and oversight,” Vice Admiral Abbas stated.

He also commended the partnership between ELRA and Admiralty Maritime Services Limited (AMSL), noting that leasing enables operators to expand their fleets without heavy upfront capital investment.

Both sides agreed to deepen operational collaboration, strengthen information sharing, and develop structured frameworks to enhance compliance, boost investor confidence and safeguard national economic interests.