*Sector contributes N14.3tn to GDP in 10 years Ndubuisi Francis in Abuja The federal government has tasked the National Bureau of Statistics (NBS) to report on the activities of equipment leasing
The federal government has
The minister said the establishment of the authority which is in consonance with Section 8 of the Equipment Leasing Act, 2015 presented a great opportunity for the government to generate more revenue for the nation. The newly inaugurated board comprises 11 members, including the Executive Chairman, Saidu Njidda; Registrar/Secretary, Bassey Imoh; one representative each from the Central Bank of Nigeria , Small and Medium Enterprises Development Agency of Nigeria , Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture , Federal Ministry of Finance, Budget and National Planning, Federal Ministry of Justice, Federal Ministry of Trade and Investment, and three representatives from the...
Njidda also noted that equipment leasing as an alternative and significant source of finance to loans has been immensely contributing to capital formation in the global Economy with its wide usage in many countries for the acquisition of capital assets. “The whole essence of leasing is to enhance the planning, improvement and development of any economy, by building and supporting productive ventures, through capital formation, generating employment and creating wealth,” he said.
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