The Equipment Leasing Registration Authority (ELRA) and the Bureau of Public Procurement (BPP) have signed a Memorandum of Understanding (MoU) to integrate leasing into Nigeria’s public procurement framework.
This is disclosed in a statement signed by the Head of Media and Corporate Communication of ELRA, Adebola Brookslyn in Abuja on Sunday.
Brookslyn said the Registrar/Chief Executive Officer of ELRA, Donald Wokoma, after the signing ceremony, noted that the agreement was a move aimed at promoting transparency, efficiency, and fiscal prudence across government operations.
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According to Wokoma, through the MoU, ELRA and BPP will jointly develop clear policy guidelines and standard documents for lease-based procurement.
He added that it would also build the capacity of procurement officers across Ministries, Departments, and Agencies (MDAs) and integrate ELRA’s registration system into the procurement workflow for improved accountability.
This, he also said would pilot leasing projects in key sectors such as health, education, transport, agriculture, and ICT.
Wokoma expressed appreciation to the Director-General of BPP and his team for their foresight and cooperation, reaffirming ELRA’s commitment to ensuring that every lease transaction under the partnership delivers measurable value to national development.
He further explained that the collaboration would reduce fiscal pressure on government budgets, enhance service delivery, and improve asset management, aligning with the Renewed Hope Agenda and Nigeria’s drive toward economic diversification and sustainable growth.
In his remarks, Dr Adebowale Adedokun, Director-General of BPP, commended ELRA for initiating the collaboration and reaffirmed BPP’s commitment to developing a procurement system that reflects global best practices.
“This MoU is timely and strategic. Leasing provides a viable alternative financing mechanism that supports service delivery while safeguarding public resources.
“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,” Adedokun said.
He further noted that the partnership would strengthen institutional capacity within MDAs and enhance accountability in public expenditure management, particularly in the area of compliance.
“Those who will go into the leasing sector must show clearly that they are registered with ELRA.
“BPP will ensure compliance without which a Certificate of No Objection will not be issued by the Bureau,” he added.
Under the Equipment Leasing Act, 2015, ELRA is empowered to regulate and register all leasing transactions in Nigeria, ensuring credibility, accountability, and investor confidence.
Similarly, the Public Procurement Act mandates BPP to guarantee value-for-money and competitiveness in government transactions.
The partnership harmonises these mandates, creating a unified process for all lease-related procurements to be duly registered, marking a major milestone in Nigeria’s journey toward efficient and sustainable public procurement.
