Nigeria pushes banks into leasing
What happened
Nigeria’s ELRA is pressing banks to expand equipment leasing with verified leases and traceable assets, framing leasing as a “bankable opportunity” amid local risk aversion — a notable regulatory nudge for emerging‑market equipment finance. (x.com)
Why it matters
Nigeria’s leasing transaction volume rose 23.2% in 2024 to roughly ₦5.16–5.17 trillion, with transport/ logistics at about ₦1.18 trillion and oil & gas around ₦1.38 trillion accounting for the largest shares of outstanding leases. (businessday.ng) The Federal Ministry of Finance issued a circular (Ref. F/LEG/2809/15/T2/7) dated 27 June 2025 mandating lease registration and directing Ministries, Departments and Agencies (MDAs) to consult the Equipment Leasing Registration Authority (ELRA), a directive announced by ELRA CEO Donald Wokoma. (authorityngr.com) ELRA formalised a strategic partnership with the National Collateral Registry (NCR) in August 2025 to enable registration of movable assets and expand access to credit by making leased equipment collateral searchable on a central registry. (vanguardngr.com) ELRA and the Bureau of Public Procurement (BPP) set up a seven-member strategy and implementation committee in September 2025 to harmonise the Equipment Leasing Act with public procurement rules and tighten government leasing oversight. (blueprint.ng) ELRA’s Equipment Leasing Registration Portal (ELRP) is operational at app.elra.gov.ng as a digital registry for lessors, lessees and manufacturers to register equipment and leases. (app.elra.gov.ng) In a March 25, 2026 briefing ELRA described ELRP as a tool that will make assets traceable and “change the calculation” for banks that have historically treated equipment leasing with interest but reluctance. (elra.gov.ng) Solifi’s Rosenthal & Rosenthal case shows a contract conversion and go‑live with Solifi Portfolio Management in roughly eight weeks, and Solifi’s Centennial Bank floorplan implementation delivered an end‑to‑end CALMS Compass rollout in under four months — concrete examples of rapid delivery for lenders facing new registry compliance. (solifi.com) Solifi markets an end‑to‑end equipment finance solution and Open Finance Platform designed for origination, portfolio management and integrations that map to registry/API workflows, and the company published its 2026 Global Leasing Report on March 24, 2026. (solifi.com)
Key numbers
- (x.com) Nigeria’s leasing transaction volume rose 23.2% in 2024 to roughly ₦5.16–5.17 trillion, with transport/ logistics at about ₦1.18 trillion and oil & gas around ₦1.38 trillion accounting for the largest shares of outstanding leases.
- F/LEG/2809/15/T2/7) dated 27 June 2025 mandating lease registration and directing Ministries, Departments and Agencies (MDAs) to consult the Equipment Leasing Registration Authority (ELRA), a directive announced by ELRA CEO Donald Wokoma.
- (authorityngr.com) ELRA formalised a strategic partnership with the National Collateral Registry (NCR) in August 2025 to enable registration of movable assets and expand access to credit by making leased equipment collateral searchable on a central registry.
- (vanguardngr.com) ELRA and the Bureau of Public Procurement (BPP) set up a seven-member strategy and implementation committee in September 2025 to harmonise the Equipment Leasing Act with public procurement rules and tighten government leasing oversight.
What happens next
- (authorityngr.com) ELRA formalised a strategic partnership with the National Collateral Registry (NCR) in August 2025 to enable registration of movable assets and expand access to credit by making leased equipment collateral searchable on a central registry.
- (app.elra.gov.ng) In a March 25, 2026 briefing ELRA described ELRP as a tool that will make assets traceable and “change the calculation” for banks that have historically treated equipment leasing with interest but reluctance.
- (solifi.com) Nigeria’s ELRA is pressing banks to expand equipment leasing with verified leases and traceable assets, framing leasing as a “bankable opportunity” amid local risk aversion — a notable regulatory nudge for emerging‑market equipment finance.
Quick answers
What happened in Nigeria pushes banks into leasing?
Nigeria’s ELRA is pressing banks to expand equipment leasing with verified leases and traceable assets, framing leasing as a “bankable opportunity” amid local risk aversion — a notable regulatory nudge for emerging‑market equipment finance. (x.com)
Why does Nigeria pushes banks into leasing matter?
Nigeria’s leasing transaction volume rose 23.2% in 2024 to roughly ₦5.16–5.17 trillion, with transport/ logistics at about ₦1.18 trillion and oil & gas around ₦1.38 trillion accounting for the largest shares of outstanding leases. (businessday.ng) The Federal Ministry of Finance issued a circular (Ref. F/LEG/2809/15/T2/7) dated 27 June 2025 mandating lease registration and directing Ministries, Departments and Agencies (MDAs) to consult the Equipment Leasing Registration Authority (ELRA), a directive announced by ELRA CEO Donald Wokoma. (authorityngr.com) ELRA formalised a strategic partnership with the National Collateral Registry (NCR) in August 2025 to enable registration of movable assets and expand access to credit by making leased equipment collateral searchable on a central registry. (vanguardngr.com) ELRA and the Bureau of Public Procurement (BPP) set up a seven-member strategy and implementation committee in September 2025 to harmonise the Equipment Leasing Act with public procurement rules and tighten government leasing oversight. (blueprint.ng) ELRA’s Equipment Leasing Registration Portal (ELRP) is operational at app.elra.gov.ng as a digital registry for lessors, lessees and manufacturers to register equipment and leases. (app.elra.gov.ng) In a March 25, 2026 briefing ELRA described ELRP as a tool that will make assets traceable and “change the calculation” for banks that have historically treated equipment leasing with interest but reluctance. (elra.gov.ng) Solifi’s Rosenthal & Rosenthal case shows a contract conversion and go‑live with Solifi Portfolio Management in roughly eight weeks, and Solifi’s Centennial Bank floorplan implementation delivered an end‑to‑end CALMS Compass rollout in under four months — concrete examples of rapid delivery for lenders facing new registry compliance. (solifi.com) Solifi markets an end‑to‑end equipment finance solution and Open Finance Platform designed for origination, portfolio management and integrations that map to registry/API workflows, and the company published its 2026 Global Leasing Report on March 24, 2026. (solifi.com)
