The Equipment Leasing Association of Nigeria (ELAN) states that a major financing tool that can bring the economy out of the woods is equipment leasing. This was disclosed in the 2021 outlook released by the Association titled – “2021: A year of Cautious Optimism”.
According to ELAN, “rebuilding the economy requires enormous capital and the growing cost of assets, hinders the capital formation in economy. Government at all levels must seek innovative and proactive ways in achieving its development – oriented initiatives. One of these options is Equipment Leasing – a creative financing alternative, utilised globally to stimulate economic development and growth. The appeal of leasing is underscored in its developmental attributes of enhancing capital formation in the economy, that drives job creation, revenue, better life and economic growth”