ELAN Advocates Leasing for Economic Recovery, Growth

The Equipment Leasing Association of Nigeria, has advocated the utilization of leasing as a creative financing alternative to enhance capital formation in the Nigerian economy. According to the Chairman to ELAN, Ehigiamusoe Elizabeth Ngozi, ’’leasing has over the years, gained significant global recognition as a creative financing alternative for the acquisition of capital assets. The whole essence of leasing is to enhance the planning, improvement and development of any economy by building and supporting productive ventures. Since inception in Nigeria, leasing has been supporting economic development. Today, the impact of leasing is pronounced in all sectors of the economy, enhancing capital formation, generating employment and creating wealth. The contribution of leasing in the past 10 years is in excess of N16.3trillion and is becoming more relevant in our prevailing economic situation, especially to Small and Medium Scale Enterprises (SMEs), with increasing cost of productive assets”.
She stated that indeed, “leasing can play a major role in the actualization of the economic agenda of the present administration, to stimulate growth, and with the current economic realities, leasing can do much more for every stakeholder. The fact that leasing facilitates long and convenient access to capital equipment goes to show the unique role of leasing in building and supporting productive ventures”.
According to the Chairman, the unique attributes of leasing will be the main conversation at the 21st National Lease Conference organised by ELAN, which shall be held in November this year. The conference is the biggest gathering of stakeholders in the leasing industry and a platform for brainstorming on issues pertinent to the development of leasing in Nigeria and the economy at large. The theme for this year’s conference is “Propelling Economic Recovery and Growth: The Leasing Initiative”.
The conference is packaged to analyse the imperative of equipment leasing to the attainment of the economic agenda of Government. Essentially, it is expected to further entrench the ideals of leasing to developmental initiatives, explore the emerging opportunities for the industry, facilitate business networking and investment.
The event, is expected to assemble stakeholders from within and outside the leasing industry including Leasing Professionals, Organised Private Sector, Financial Institutions, Investors (both local and foreign), Equipment Vendors, Service Providers, Professional Firms, Government MDAs etc, with renowned experts discussing relevant topics that would further engender the contributions of leasing to the development of the Nigerian economy.
The Chairman, therefore called on all relevant stakeholders to be a part of this great event to leverage business networking opportunities, leasing value propositions and market dynamics, reiterating that the conference offers a veritable platform to further enhance corporate visibility and get partners more connected to their target markets.