The federal government is scheduled to officially introduce the Equipment Leasing Registration Authority (ELRA) in Abuja, the Federal Capital Territory (FCT) on November 7, 2023…CONTINUE READING....KINDLY READ THE FULL STORY HERE▶
According to a press release personally signed by ELRA’s Executive Chairman, Engr. Saidu Njidda, the unveiling ceremony, to be conducted by the Minister of Finance and Coordinating Minister of the Economy.
Mr. Wale Edun, will empower the authority to take on a pivotal role in advancing two of the eight key objectives of the Bola Tinubu administration – “Access to Capital and Job Creation.”
The ELRA board, including 11 members and Executive Chairman Engr. Saidu Njidda, Registrar/Secretary Barr.
Bassey Imoh, and representatives from various government bodies and the Equipment Leasing Association of Nigeria, was inaugurated in May 2023 by former Minister of Finance, Budget, and National Planning, Zainab Shamsuna Ahmed.
In the statement, the Executive Chairman of the ELRA Board highlighted the significance of implementing the Equipment Leasing Act, offering a viable alternative to traditional loans and potentially enhancing revenue generation.
given the global industry’s estimated total volume of $1.5 trillion, accounting for 20 percent of total equipment investment and contributing about 1.5 percent to the Gross Domestic Product (GDP).
