The Equipment Leasing Registration Authority (ELRA) and the Bureau of Public Procurement (BPP) have entered into a Memorandum of Understanding (MoU) aimed at incorporating leasing into the public procurement framework of Nigeria.
This initiative seeks to enhance transparency, efficiency, and fiscal responsibility within government operations.
This was disclosed in a statement signed by the Equipment Leasing Registration Authority’s Head of Media and Corporate Communication of ELRA, Adebola Brookslyn.
Speaking after the signing ceremony, the Registrar/Chief Executive Officer of ELRA, Donald Wokoma, described the partnership as “a new era in Nigeria’s public procurement framework, one that promotes transparency, efficiency, and fiscal prudence.”
“Through the MoU, ELRA and BPP will jointly: Develop clear policy guidelines and standard documents for lease-based procurement; Build the capacity of procurement officers across Ministries, Departments, and Agencies (MDAs); Integrate ELRA’s registration system into the procurement workflow for improved accountability; and Pilot leasing projects in key sectors such as health, education, transport, agriculture, and ICT.”
Wokoma, while expressing appreciation to the Director-General of BPP and his team for their foresight and cooperation, reaffirmed ELRA’s commitment to ensuring that every lease transaction under the partnership delivers measurable value to national development.
He further explained that, “The collaboration will 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.”
Also speaking, the Director General of BPP, R. Adebowale Adedokun, 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,” Dr Adebowale stated. “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.”
He further stressed 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, the Equipment Leasing Registration Authority (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.
The partnership harmonises these mandates, creating a unified and transparent process for all lease-related procurements to be duly registered, marking a major milestone in Nigeria’s journey toward efficient and sustainable public procurement.