ELRA and Heifer International Nigeria Unite to Enhance Equipment Leasing for Young Entrepreneurs
The Equipment Lease Registration Authority (ELRA) has joined forces with Heifer International Nigeria to expand access to affordable equipment leasing tailored for young entrepreneurs. This initiative aims to unlock access to productive assets, stimulate agribusiness growth, and accelerate job creation across the nation.
Commitment Announced at Key Agriculture Event
This renewed partnership was revealed during the grand finale of the 5th Agriculture, Youth, and Technology (AYuTe) Nigeria Challenge held in Abuja. Industry stakeholders emphasized that improving access to equipment, technology, and financial resources is crucial for enhancing agricultural productivity, creating job opportunities, and bolstering Nigeria’s food security.
Insights from ELRA Leadership
In a statement, ELRA’s Head of Media and Corporate Communications, Adebola Brookslyn Sunday, shared insights from the event. ELRA Registrar and Chief Executive Officer, Donald Wokoma, noted that equipment leasing serves as a viable financial solution for budding entrepreneurs who possess innovative ideas yet lack the necessary capital to invest in essential machinery and technology.
The Advantages of Equipment Leasing
Wokoma highlighted that leasing enables entrepreneurs to access highly productive assets without the burden of large upfront investments. This allows them to manage their expenses effectively by repaying over time with the income generated from the leased equipment.
Launching the ELRA-Heifer Youth Enterprise Leasing Initiative
The synergy between ELRA and Heifer International Nigeria is set to be strengthened through the proposed ELRA-Heifer Youth Enterprise Leasing Initiative. This initiative aims to unite leasing companies, financial institutions, equipment manufacturers, and development partners to deliver affordable leasing solutions specifically for youth-owned enterprises.
Targeted Support for Agricultural Productivity
This initiative is expected to enhance access to vital resources such as tractors, irrigation systems, agro-processing equipment, refrigeration facilities, delivery vehicles, renewable energy solutions, and ICT tools. These assets are essential for increasing business productivity and competitiveness in agribusiness sectors.
Building a Sustainable Future
Wokoma reiterated that this collaboration will not only promote financial inclusion but also boost agricultural output, fortify food security, and contribute significantly to Nigeria’s broader economic transformation. He commended Heifer International Nigeria for its unwavering investment in youth entrepreneurship through innovation, skills development, and livelihood support, describing the AYuTe Nigeria Challenge as a vital platform for nurturing the next generation of agribusiness leaders.
Government Support and Recognition of Innovators
In addition, Lekan Tobe, Country Director at Heifer International Nigeria, emphasized that the AYuTe Nigeria Challenge aims to make agriculture appealing to youth by harnessing innovation and technology to reshape Nigeria’s food systems. The program also offers mentorship, business development support, networking opportunities, and investment connections to help aspiring agritech entrepreneurs establish scalable businesses.
Aliyu Abdullahi, the Minister of State for Agriculture and Food Security, reaffirmed the Federal Government’s dedication to supporting young farmers through strategic investments and partnerships aimed at facilitating agricultural transformation. He urged young innovators to take advantage of emerging technologies, such as artificial intelligence, drone technology, and precision agriculture, while assuring them of ongoing government efforts to enhance access to land, financing, and quality agricultural inputs.
The event concluded with awards for exceptional agritech innovators from the 2026 AYuTe Nigeria Challenge. Kelechi Oreka, founder of Kyoko Foods Ltd., emerged as the overall winner, securing a grant of $20,000. Bello Amos Bwala, founder of Agrigoo Trade and Commodities Ltd., received the second-place prize of $12,000, while Udokanma George, founder of Yemert Nigeria Ltd., clinched third place with a grant of $8,000.
