FG unveils project board to fast-track digital reforms, boost leasing industry

FG unveils project board to fast-track digital reforms, boost leasing industry

JOEL OLADELE, Abuja

The Federal Government has launched a new Ministerial Project Approval Board (MPAB) and advanced a digital transformation partnership with the Equipment Leasing Registration Authority (ELRA), a move officials say will modernise Nigeria’s leasing sector, attract investment and drive small business growth.

At the inauguration in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the MPAB would streamline project evaluation and uphold “rigorous standards of due process, value for money and accountability” across all public–private partnerships (PPPs).

The board’s first sitting considered a proposal from ELRA to digitise regulatory processes and improve transparency in equipment leasing, a sector vital to small and medium-sized enterprises that depend on access to machinery, vehicles and technology.

“This administration is committed to partnerships that leverage private capital and innovation to deliver real economic value,” Edun said. “Our focus is on reforms that stimulate investment, productivity and job creation.”

Edun explained that the new board would help fast-track responsible private-sector investment, ensuring PPPs are structured to protect public interest while supporting sustainable economic development.

ELRA Registrar and CEO, Donald Wokoma, presented the transformation plan, which includes new digital platforms, industry development initiatives and capacity-building programmes to deepen participation in the leasing industry.

Private-sector partners at the event reaffirmed their commitment to deploying technology and finance solutions that expand business access to leasing and improve the regulatory environment.

Officials described the inauguration of the MPAB and the ELRA partnership as milestones in the government’s ongoing economic reform drive aimed at boosting growth, investment and jobs.