HM Edun Inaugurates Project Approval Board, Advances ELRA Digital Transformation Partnership

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has inaugurated the Ministerial Project Approval Board (MPAB) and presided over its first review session, considering a public-private partnership proposal from the Equipment Leasing Registration Authority (ELRA) to modernise Nigeria’s leasing industry.

The initiative aims to digitise regulatory processes, strengthen market transparency and expand access to equipment finance for Nigerian businesses. Particularly SMEs that rely on leasing to acquire machinery, vehicles and technology critical for growth.

HM Edun commended the project’s clarity and stressed that the Board will uphold rigorous standards of due process, value for money and accountability across all PPPs.

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

ELRA Registrar and CEO Mr. Donald Okuma presented the transformation plan, which includes digital platforms, industry development initiatives and capacity-building programmes designed to deepen participation in the leasing sector and support enterprise-led growth.

Private-sector partners reaffirmed their commitment to deploying technology and finance solutions that broaden business access to leasing and strengthen the operating environment.

The Honourable Minister concluded by noting that the Board will serve as a key mechanism to fast-track responsible private-sector investment under the Ministry, ensuring PPPs are structured to protect public interest while enabling sustainable economic development.