The Equipment Leasing Registration Authority (ELRA) and Heifer Nigeria have signed a two-year partnership aimed at closing Nigeria’s farm equipment financing gap through innovative leasing models designed to improve access to agricultural machinery for smallholder farmers.
The Memorandum of Understanding (MoU), which runs from August 15, 2026, to August 14, 2028, will support farmers in Benue, Nasarawa, Ogun and Edo states under Heifer Nigeria’s flagship Naija Unlock Programme.
The initiative is expected to improve agricultural mechanisation, strengthen rural enterprises and boost food security by making productive assets more affordable through equipment leasing and lease-to-own arrangements.
In a statement issued by Adebola Brookslyn Sunday, head of media and corporate communication at ELRA, the authority said the collaboration aligns its mandate of regulating and promoting equipment leasing with Heifer Nigeria’s goal of ending hunger and poverty through sustainable agricultural development.
The partnership seeks to unlock access to tractors, irrigation systems, processing equipment and other productive assets that many farmers have been unable to acquire because of high upfront costs.
Speaking at the signing ceremony, Donald Wokoma, registrar and chief executive officer of ELRA, described the agreement as a major step towards advancing agricultural financing and positioning equipment leasing as a practical solution to Nigeria’s food security challenges.
According to him, equipment leasing remains one of the most effective financing mechanisms for farmers and agribusinesses because it removes the burden of heavy capital expenditure while providing access to modern equipment that improves productivity and operational efficiency.
“This partnership demonstrates how equipment leasing can unlock opportunities for farmers, cooperatives, women and young agripreneurs by providing affordable access to tractors, irrigation systems, processing equipment and other productive assets required to drive agricultural transformation.
“It also reinforces ELRA’s commitment to making leasing a catalyst for national development by connecting more Nigerians with the productive assets they need to succeed,”Wokoma said.
Lekan Tobe, country director of Heifer Nigeria, said the collaboration reflects the organisation’s commitment to empowering smallholder farmers through market-driven solutions that improve livelihoods and strengthen Nigeria’s food systems.
“Access to productive assets is fundamental to transforming agriculture and lifting farming families out of poverty. Through this partnership with ELRA, we are introducing innovative leasing models that will enable farmers, cooperatives, women and youth to acquire the equipment they need to increase productivity, reduce post-harvest losses and build resilient agribusinesses,” Tobe said.
Under the agreement, both organisations will jointly develop affordable leasing and lease-to-own models covering tractors, power tillers, planters, weeders, threshers, solar-powered irrigation systems, renewable energy-powered agricultural equipment, processing machinery, storage facilities and cold-chain infrastructure.
The partners said the initiative is expected to reduce production costs, minimise drudgery and improve farm efficiency by enabling farmers to access modern equipment without the financial burden of outright purchase.
Beyond equipment financing, ELRA and Heifer Nigeria will implement capacity-building programmes covering agribusiness management, financial literacy, equipment operation and maintenance, enterprise development and asset management. The training will target farmers, cooperatives, leasing companies, rural enterprises, equipment operators, women and youth agripreneurs to ensure sustainable use of leased assets.
The collaboration will also promote climate-smart agriculture by encouraging the adoption of renewable energy-powered equipment and sustainable farming technologies capable of supporting year-round production while improving resilience to climate change.
Other areas of cooperation include reducing post-harvest losses through improved processing and storage infrastructure, promoting value addition, expanding access to productive assets for cooperatives and rural enterprises, supporting policy advocacy and research, and strengthening Nigeria’s equipment leasing ecosystem.
The organisations expressed confidence that the partnership would serve as a model for expanding private sector investment in agricultural equipment financing, while helping farmers overcome one of the biggest constraints to mechanisation and supporting the Federal Government’s food security and economic diversification agenda.
Comments
Start the conversation about this story.