ELRA, NADF seek improved food security through equipment Leasing initiative.

The Equipment Leasing Registration Authority (ELRA) and the National Agricultural Development Fund (NADF) have signed a Memorandum of Understanding (MoU) to expand access to agricultural machinery through structured leasing arrangements, a move aimed at boosting productivity and strengthening food security across Nigeria. The agreement was signed in Abuja by ELRA Registrar/CEO, Donald Wokoma, and NADF Executive Secretary/CEO, Mohammed Ibrahim.

Speaking on the partnership, Wokoma said the collaboration will provide farmers, cooperatives and agribusinesses with affordable access to tractors, harvesters, irrigation systems and other critical agricultural equipment through innovative leasing models, including finance leases, operating leases and lease-to-own arrangements. He noted that the initiative will address financing barriers that have long hindered mechanised farming while attracting greater private sector investment into agricultural equipment financing.

Under the agreement, ELRA will oversee the registration and regulation of agricultural equipment leasing transactions, while NADF will provide advisory and capacity-building support. Wokoma said the partnership will also engage financial institutions, equipment manufacturers, leasing companies, development partners and state governments to accelerate mechanisation, increase agricultural output and improve food security nationwide.