The Federal Government has launched the Ministerial Project Approval Board (MPAB) in addition to promoting a strategic digital transformation partnership with the Equipment Leasing Registration Authority (ELRA).
All these are aimed at modernising Nigeria’s leasing industry and expanding access to equipment finance for businesses across the country.
The initiative, according to the Ministry of Finance in a statement on Wednesday, seeks to digitise regulatory processes, enhance transparency in the market, and support small and medium-sized enterprises (SMEs) that depend on leasing to acquire machinery, vehicles, and technology essential for growth and competitiveness.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, inaugurated the Ministerial Project Approval Board at his office in Abuja and presided over its first review session, during which the Board considered a public-private partnership (PPP) proposal from ELRA to transform the nation’s equipment leasing landscape.
Speaking at the inauguration, Edun commended the clarity and ambition of the proposed project, noting that the Board would maintain strict standards of due process, value for money, and accountability in evaluating all PPP initiatives.
“This administration is committed to partnerships that leverage private capital and innovation to deliver real economic value,” the Minister said. “Our focus is on reforms that stimulate investment, productivity, and job creation.”
Edun explained the Board would play a central role in accelerating responsible private-sector investment within the Ministry’s oversight, ensuring that all PPPs are structured to safeguard the public interest while advancing sustainable economic development.
He noted that the initiative aligns with President Bola Tinubu’s economic agenda to strengthen Nigeria’s industrial base, improve access to credit, and create an enabling environment for businesses to thrive.
