ELRA Expands Access To Equipment Leasing For Young Entrepreneurs

The Equipment Leasing Registration Authority, ELRA, has reaffirmed its partnership with Heifer International Nigeria to expand access to affordable equipment leasing for young entrepreneurs as part of efforts to boost agricultural productivity, create jobs and strengthen food security.

ELRA Registrar and Chief Executive Officer, Mr. Donald Wokoma, gave the assurance at the grand finale of the fifth Agriculture, Youth and Technology, AYuTe, Nigeria Challenge in Abuja.

He said the partnership would help young entrepreneurs overcome the challenge of acquiring productive equipment needed to grow their businesses.

Mr. Wokoma explained that both organisations would implement the proposed ELRA-Heifer Youth Enterprise Leasing Initiative to provide affordable leasing opportunities for youth-owned enterprises through collaboration with leasing companies, financial institutions, equipment manufacturers and development partners.

He said the initiative would improve access to tractors, irrigation systems, agro-processing equipment, cold storage facilities, delivery vehicles, renewable energy solutions and ICT equipment, while promoting financial inclusion, agricultural productivity and economic growth.

Also speaking, Country Director of Heifer International Nigeria, Dr. Lekan Tobe, said the AYuTe Nigeria Challenge was created to make agriculture more attractive to young people through innovation and technology.

He noted that the programme also provides mentorship, business development support and investment opportunities for young agritech entrepreneurs.

The Minister of State for Agriculture and Food Security, Dr. Aliyu Abdullahi, reaffirmed the Federal Government’s commitment to supporting young agripreneurs through strategic investments and partnerships.

He urged them to adopt technologies such as artificial intelligence, drone technology and precision farming to improve productivity.

At the event, Kelechi Oleka, Founder of Kyoko Foods Limited, emerged overall winner of the 2026 AYuTe Nigeria Challenge and received a grant of 20,000 US dollars, Bello Amos-Bwala of AgriGoo Trades and Commodity won the second prize of 12,000 dollars, while Udokanma George of Yemert Nigeria Limited received 8,000 dollars as the third-place winner.

The three will also represent Nigeria at the continental AYuTe Africa Challenge.

PR Florence Adewale