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🇳🇬 Nigeria /Economy & Trade

Benue, Nasarawa, Ogun, Edo farmers to benefit from FG equipment leasing scheme

From The Punch · () English

Summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • Smallholder farmers in Benue, Nasarawa, Ogun, and Edo states will gain access to modern farming equipment through a new partnership.
  • The Equipment Leasing Registration Authority and Heifer Nigeria signed a two-year Memorandum of Understanding to boost food production and food security.
  • The initiative will expand access to agricultural mechanization via flexible leasing and lease-to-own models, aiming to reduce upfront costs for farmers.

Smallholder farmers across four Nigerian states are set to benefit from enhanced access to modern agricultural machinery through a new partnership. The Equipment Leasing Registration Authority (ELRA) and Heifer Nigeria have signed a two-year Memorandum of Understanding (MoU) aimed at boosting food production, strengthening agricultural value chains, and improving Nigeria's overall food security.

This partnership demonstrates how equipment leasing can unlock opportunities for farmers, cooperatives, women and young agripreneurs in Benue, Nasarawa, Ogun and Edo states by providing affordable access to tractors, irrigation systems, processing equipment and other productive assets required to drive agricultural transformation.

— Donald WokomaThe Registrar and Chief Executive Officer of ELRA described the agreement's potential impact on farmers and rural enterprises.

The collaboration, part of Heifer Nigeria's "Naija Unlock Programme," will run from August 15, 2026, to August 14, 2028. It seeks to expand agricultural mechanization by offering flexible leasing and lease-to-own options. This approach is designed to enable smallholder farmers, cooperatives, women, and young agripreneurs to acquire essential equipment without the burden of high initial purchase costs.

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.

— Donald WokomaWokoma further elaborated on ELRA's role in national development through asset accessibility.

Donald Wokoma, Registrar and CEO of ELRA, hailed the agreement as a significant milestone in agricultural financing. He noted that the initiative would initially focus on Benue, Nasarawa, Ogun, and Edo states, serving as a model for nationwide replication. Wokoma emphasized that equipment leasing can unlock opportunities for rural enterprises, driving productivity, job creation, and economic prosperity.

We are confident that this collaboration will redefine how farmers and rural enterprises access equipment, ultimately driving productivity, job creation and economic prosperity.

— Donald WokomaWokoma expressed confidence in the partnership's ability to transform agricultural access and economic outcomes.

Lekan Tobe, Country Director of Heifer Nigeria, echoed this sentiment, stating that the partnership aligns with the organization's commitment to empowering smallholder farmers with practical, market-driven solutions. He highlighted that access to productive assets is crucial for transforming agriculture and alleviating poverty. The program's phased implementation, starting in the four selected states, is expected to eventually extend to other regions of the country.

At Heifer Nigeria, we believe that access to productive assets is fundamental to transforming agriculture and lifting farming families out of poverty.

— Lekan TobeThe Country Director of Heifer Nigeria explained the organization's core belief driving the collaboration.
DistantNews Editorial

Originally published by The Punch. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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