) The Equipment Leasing Registration Authority (ELRA) and Heifer Nigeria Ltd/GTE have signed a two-year Memorandum of Understanding (MoU) to expand access to agricultural equipment through leasing.
This is contained in a statement issued by the Head, Media and Corporate Communication, ELRA, Mr Adebola Sunday, made available to newsmen on Wednesday in Abuja.
Sunday said that the collaboration aligned ELRA’s mandate of regulating and promoting equipment leasing with Heifer Nigeria’s mission of ending hunger and poverty through sustainable agricultural development.
He said the initiative was aimed at improving food security and strengthening agricultural value chains.
According to him, the partnership is designed to unlock access to productive assets, stimulate agricultural productivity, strengthen rural enterprises and promote inclusive economic growth through flexible leasing and lease-to-own arrangements.
Speaking during the signing ceremony, ELRA Registrar/CEO, Mr Donald Wokoma, described the agreement as a milestone in advancing agricultural financing and promoting equipment leasing as a practical solution to Nigeria’s food security challenges.
Wokoma said equipment leasing remained one of the most effective financing mechanisms for farmers and agribusinesses because it eliminated the burden of huge upfront capital costs while providing access to modern equipment.
”This partnership demonstrates how equipment leasing can unlock opportunities for farmers, cooperatives, women and young agripreneurs by providing affordable access to tractors, irrigation systems, processing equipment and other productive assets.
”It also reinforces ELRA’s commitment to making leasing a catalyst for national development by connecting more Nigerians with the productive assets they need to succeed,” he said.
Also speaking, the Country Director of Heifer Nigeria, Mr Lekan Tobe, said the partnership reflected the organisation’s commitment to empowering smallholder farmers through practical, market-driven solutions.
Tobe said access to productive assets was essential to transforming agriculture and lifting farming families out of poverty.
”Through this partnership with ELRA, we are introducing innovative leasing models that will enable farmers, cooperatives, women and youth to acquire the equipment they need to increase productivity, reduce post-harvest losses and build resilient agribusinesses.
”Together, we are creating pathways for smallholder farmers to move from subsistence to sustainable prosperity while contributing meaningfully to Nigeria’s food security objectives,” he said.
He added that the initiative would strengthen agricultural value chains through increased mechanisation, climate-smart technologies, enterprise development, financial inclusion and expanded opportunities for rural communities.
He said the partnership would develop affordable leasing and lease-to-own models for tractors, power tillers, planters, weeders, threshers, solar-powered irrigation systems, processing machinery, storage facilities and cold-chain infrastructure.
He added that the initiative would also include capacity-building programmes in agribusiness management, financial literacy, equipment operation and maintenance, enterprise development and asset management for farmers, cooperatives, leasing companies and rural enterprises.
The partnership, which will run from Aug. 15, 2026 to Aug. 14, 2028, is expected to improve access to affordable agricultural mechanisation for smallholder farmers in Benue, Nasarawa, Ogun and Edo states under Heifer Nigeria’s Naija Unlock Programme.
The initiative is expected to increase agricultural productivity, improve farmers’ incomes, reduce post-harvest losses and create sustainable livelihoods for rural households, while supporting the Federal Government’s food security agenda. (NAN)
