The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has inaugurated the Ministerial Project Approval Board (MPAB) and presided over its first review session, which examined a public-private partnership proposal from the Equipment Leasing Registration Authority (ELRA) to modernise Nigeria’s leasing industry.
The initiative seeks to digitise regulatory processes, enhance market transparency, and increase access to equipment finance for Nigerian businesses, especially small and medium enterprises that depend on leasing to obtain machinery, vehicles, and technology essential for growth.
Mr. Edun commended the clarity of the project and emphasised that the Board will maintain high standards of due process, value for money, and accountability in all public-private partnerships. “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 stated.
Presenting the transformation plan, ELRA Registrar and Chief Executive Officer, Mr. Donald Okuma, said it includes digital platforms, industry development initiatives, and capacity-building programmes aimed at deepening participation in the leasing sector and promoting enterprise-led growth.
Private-sector partners reaffirmed their readiness to deploy technology and finance solutions that improve business access to leasing and create a more stable operating environment.
The Minister added that the Board will be a vital mechanism to fast-track responsible private-sector investment, ensuring that PPPs are structured to protect public interest and support sustainable economic development.
