The Equipment Leasing Registration Authority (ELRA) and Heifer Nigeria Ltd/GTE have signed a two year Memorandum of Understanding (MoU) to improve access to modern agricultural equipment through affordable leasing arrangements aimed at boosting food production and strengthening rural livelihoods.
According to a report by the News Agency of Nigeria (NAN), the partnership seeks to promote agricultural mechanisation by enabling farmers, cooperatives, women and young agripreneurs to acquire productive assets without the burden of large upfront capital investments.
The agreement, announced in a statement by ELRA’s Head of Media and Corporate Communication, Adebola Sunday, aligns the authority’s mandate of regulating and promoting equipment leasing with Heifer Nigeria’s mission of combating hunger and poverty through sustainable agricultural development.
He explained that the collaboration is expected to strengthen agricultural value chains, enhance food security and promote inclusive economic growth by introducing flexible leasing and lease to own financing models.
Speaking during the signing ceremony, ELRA Registrar and Chief Executive Officer, Donald Wokoma, described the agreement as a significant step towards expanding agricultural financing and making modern farming equipment more accessible to Nigerian farmers.
He noted that equipment leasing remains one of the most effective financing options for farmers and agribusinesses because it provides access to essential machinery without requiring substantial initial capital.
According to Wokoma, the initiative will enable farmers and rural enterprises to obtain tractors, irrigation systems, processing equipment and other productive assets needed to improve efficiency and increase agricultural output.
He added that the partnership reinforces ELRA’s commitment to using equipment leasing as a tool for national development by connecting more Nigerians with resources that can enhance productivity and improve livelihoods.
Also speaking, Heifer Nigeria Country Director, Lekan Tobe, said the collaboration reflects the organisation’s commitment to empowering smallholder farmers through practical, market driven solutions that increase productivity and reduce poverty.
He explained that improved access to productive assets is essential for transforming agriculture and helping farming families move from subsistence farming to sustainable commercial enterprises.
Tobe said the initiative will introduce innovative leasing models that will support farmers, cooperatives, women and youth in acquiring tractors, power tillers, planters, weeders, threshers, solar powered irrigation systems, processing machinery, storage facilities and cold chain infrastructure.
Beyond equipment financing, the partnership will also provide capacity building programmes covering agribusiness management, financial literacy, equipment operation and maintenance, enterprise development and asset management for farmers, leasing companies and rural businesses.
The agreement, scheduled to run from August 15, 2026, to August 14, 2028, will initially focus on improving access to affordable agricultural mechanisation for smallholder farmers in Benue, Nasarawa, Ogun and Edo states under Heifer Nigeria’s Naija Unlock Programme.
Organisers said the initiative is expected to increase agricultural productivity, improve farmers’ incomes, reduce post harvest losses and create sustainable livelihoods for rural households while supporting the Federal Government’s food security agenda.
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