The Equipment Leasing Registration Authority (ELRA) and the Bureau of Public Procurement (BPP) have signed a Memorandum of Understanding (MoU) to formally integrate leasing into Nigeria’s public procurement process.
The agreement, signed in Abuja, is aimed at enhancing transparency, efficiency, and fiscal responsibility across government operations.
Speaking at the signing ceremony, the Registrar and Chief Executive Officer of ELRA, Donald Wokoma, said the partnership will see both agencies jointly develop clear policy guidelines and standard documents to support lease-based procurement in the public sector.
In a statement issued by ELRA’s Head of Media and Corporate Communication, Adebola Brookslyn, Wokoma noted that the collaboration would also focus on building the capacity of procurement officers across Ministries, Departments, and Agencies (MDAs). He added that ELRA’s registration system would be integrated into the procurement workflow to strengthen accountability.
According to him, the partnership will begin with pilot leasing projects in key sectors including health, education, transport, agriculture, and ICT.
Wokoma expressed appreciation to the Director-General of BPP, Dr. Adebowale Adedokun, and his team for their foresight and cooperation. He reaffirmed ELRA’s commitment to ensuring that every lease transaction under the MoU contributes measurable value to national development.
He also highlighted the broader benefits of the collaboration, stating that it would help reduce fiscal pressure on government budgets, improve service delivery, and enhance asset management. These goals, he said, align with the Renewed Hope Agenda and Nigeria’s push for economic diversification and sustainable growth.
In his remarks, Dr. Adedokun commended ELRA for initiating the strategic partnership and restated BPP’s commitment to a procurement system rooted in global best practices.
“This MoU is timely and strategic. Leasing provides a viable alternative financing mechanism that supports service delivery while safeguarding public resources,” said Adedokun.
“By working together with ELRA, we are ensuring that leasing transactions in the public sector are not only transparent but also deliver real value for money.”
He further emphasized that the partnership would enhance institutional capacity within MDAs and strengthen compliance in public spending.
Adedokun added that only leasing firms registered with ELRA will be allowed to participate in public procurement. He stated that BPP would enforce compliance by withholding the Certificate of No Objection from entities that do not meet this requirement.
Under the Equipment Leasing Act of 2015, ELRA is mandated to regulate and register all leasing transactions in Nigeria to ensure credibility and investor confidence. BPP, under the Public Procurement Act, is responsible for ensuring value-for-money and competitiveness in all government procurement.
