By Joseph Erunke, Abuja

In a major step toward modernizing Nigeria’s public procurement system, the Federal Government has officially integrated equipment leasing into the Bureau of Public Procurement (BPP) framework through a strategic partnership with the Equipment Leasing Registration Authority (ELRA).

The milestone follows the signing of a Memorandum of Understanding (MoU) between both agencies in Abuja, aimed at institutionalizing leasing as a credible, transparent, and cost-effective mechanism for acquiring public assets.

According to a statement by Adebola Brookslyn, Head of Media and Corporate Communication at ELRA, the agreement marks a significant advancement in promoting fiscal prudence, efficiency, and accountability across government operations.

Speaking after the signing ceremony, Donald Wokoma, Registrar and Chief Executive Officer of ELRA, described the partnership as a reform-driven initiative that will transform how Ministries, Departments, and Agencies (MDAs) acquire and manage government assets.

“This collaboration will deliver measurable value to national development by reducing budgetary pressure, enhancing service delivery, and promoting sustainable asset management,” Wokoma stated.

He added that the initiative would result in the development of policy guidelines and standard documents for lease-based procurement, alongside integrating ELRA’s registration system into BPP’s workflow to ensure traceability and compliance in all public leasing transactions.

Wokoma further disclosed that pilot leasing projects would be launched in strategic sectors such as health, education, agriculture, transport, and ICT — in line with President Bola Tinubu’s Renewed Hope Agenda and the government’s commitment to economic diversification.

In his remarks, Dr. Adebowale Adedokun, Director-General of BPP, lauded ELRA for initiating the collaboration, describing the MoU as “timely and strategic.”

“Leasing offers an innovative financing model that promotes efficiency without compromising public accountability. This partnership will ensure that every lease-based procurement aligns with global best practices and delivers real value for money,” Adedokun said.

He emphasized that the new framework would strengthen institutional capacity within MDAs, enhance compliance, and ensure that only ELRA-registered lessors participate in government leasing transactions.

“BPP will strictly enforce compliance, and no Certificate of No Objection will be issued for any lease arrangement that is not duly registered with ELRA,” he warned.

The collaboration harmonizes the mandates of both agencies — ELRA’s regulatory oversight under the Equipment Leasing Act, 2015, and BPP’s responsibility under the Public Procurement Act — to ensure transparency and competitiveness in public spending.

With this integration, Nigeria is set to embrace a modern, transparent, and cost-efficient procurement system — one that safeguards public resources and positions equipment leasing as a vital driver of national development and sustainable growth.