By Jumoke Olaitan
The Equipment Leasing Registration Authority (ELRA) has reaffirmed its partnership with Heifer International Nigeria to improve young entrepreneurs’ access to equipment leasing to boost agriculture and job creation.
The Registrar and Chief Executive Officer of ELRA, Mr Donald Wokoma, stated this at the grand finale of the 5th Agriculture, Youth and Technology (AYuTe) Nigeria Challenge in Abuja.
Wokoma said the partnership would help young entrepreneurs acquire equipment needed to grow their businesses without paying the full cost upfront.
He said many young people had innovative ideas and skills but lacked access to machinery, technology and other productive assets needed to expand their businesses.
According to him, equipment leasing provides a practical financing option by allowing entrepreneurs to pay for equipment over time from income generated through its use.
”As longstanding partners, ELRA and Heifer International Nigeria remain committed to expanding access to productive assets for young entrepreneurs.
“The partners is through innovative leasing solutions that will unlock business growth, improve productivity, strengthen agricultural value chains and create sustainable jobs,” he said.
Wokoma said both organisations would strengthen their collaboration through the proposed ELRA-Heifer Youth Enterprise Leasing Initiative.
He said the initiative would bring together leasing companies, financial institutions, equipment manufacturers and development partners to provide affordable leasing opportunities for youth-owned businesses.
According to him, the programme will improve access to tractors, irrigation systems, agro-processing equipment, cold storage facilities, delivery vehicles, renewable energy solutions and ICT equipment.
He added that the partnership would also promote financial inclusion, increase agricultural productivity and support national food security.
Earlier, the Country Director of Heifer International Nigeria, Dr Lekan Tobe, said the AYuTe Nigeria Challenge was created to attract more young people into agriculture through innovation and technology.
Tobe said the programme also provides mentorship, business development support, networking opportunities and investment linkages to help young agritech entrepreneurs build sustainable businesses.
Also speaking, the Minister of State for Agriculture and Food Security, Dr Aliyu Abdullahi, reaffirmed the federal government’s commitment to supporting young agripreneurs through investments, innovation and strategic partnerships.
He urged young innovators to embrace emerging technologies such as artificial intelligence, drone technology and precision farming to modernise agriculture.
Abdullahi also assured them of government’s commitment to improving access to land, finance and modern agricultural inputs.
At the event, winners of the 2026 AYuTe Nigeria Challenge received grants worth 40,000 dollars to expand their businesses.
Kelechi Oleka, Founder of Kyoko Foods Ltd., emerged overall winner and received 20,000 dollars, while Bello Amos-Bwala, Founder of AgriGoo Trades and Commodity, won the second prize of 12,000 dollars.
Udokanma George, Founder of Yemert Nigeria Ltd., came third and received 8,000 dollars.
The event also featured a university roadshow, a panel discussion on youth-led agritech innovation and the unveiling of the three Nigerian winners who will represent the country at the continental AYuTe Africa Challenge.(NAN)(www.nannews.ng)
Edited by Funmilayo Adeyemi