The Federal Government has taken a major step toward reforming public procurement by integrating equipment leasing into the Bureau of Public Procurement (BPP) framework through a new Memorandum of Understanding (MoU) with the Equipment Leasing Registration Authority (ELRA).....KINDLY READ THE FULL STORY HERE▶

According to Nivo News, the agreement, signed by both agencies, seeks to foster transparency, efficiency, and fiscal discipline in the management of government resources. Registrar and Chief Executive Officer of ELRA, Donald Wokoma, stated that the partnership would enable the joint development of policy guidelines and standard documents for lease-based procurement processes.

In a statement issued by ELRA’s Head of Media and Corporate Communications, Adebola Brookslyn, Wokoma revealed that the collaboration would also involve training procurement officers across Ministries, Departments, and Agencies (MDAs) and integrating ELRA’s registration system into BPP’s workflow to strengthen accountability.

He noted that pilot leasing projects will commence in critical sectors including health, education, transportation, agriculture, and information and communication technology (ICT). Wokoma expressed gratitude to the Director-General of BPP, Dr. Adebowale Adedokun, and his team for their support, reaffirming ELRA’s commitment to ensuring that every lease transaction contributes tangible value to national development.

Wokoma added that the initiative would reduce fiscal pressure on government budgets, enhance service delivery, and promote better asset management, in line with the Renewed Hope Agenda and Nigeria’s economic diversification goals.

Dr. Adedokun, on his part, commended ELRA for initiating the partnership, describing the MoU as a strategic and timely intervention. He emphasized that leasing offers an innovative financing alternative that supports public service delivery while safeguarding public resources.

He further noted that the collaboration would boost institutional capacity within MDAs, promote accountability in public expenditure, and ensure full compliance with regulatory standards. Adedokun warned that only leasing entities registered with ELRA would be eligible for government transactions, stressing that the BPP would withhold the issuance of a Certificate of No Objection where registration and compliance requirements are not met.

Under the Equipment Leasing Act of 2015, ELRA is mandated to regulate and register all leasing transactions in Nigeria, ensuring transparency, accountability, and investor confidence. Meanwhile, the Public Procurement Act empowers the BPP to guarantee competitiveness and value-for-money in government dealings.

The MoU harmonizes both mandates, creating a unified framework for lease-related procurements — a move that marks a significant milestone in Nigeria’s pursuit of efficient and sustainable public procurement practices.

Stay connected via Google News

Follow us for the latest travel updates and guides.