ELAN Commits To National Growth, Injects N14.3 Trillion Into Economy

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The Equipment Leasing Association of Nigeria (ELAN) has revealed plans to promote economic and developmental growth through the leasing industry to provide the much-needed integral support for national economic growth.”The association disclosed at its 27th yearly general meeting held in Lagos, saying that the leasing sector has contributed over N14.3 trillion to Nigeria’s economy in the last 10 years.

The meeting also witnessed the election of the new Chairman of the association, Mrs. Ngozi Elizabeth Ehigiamusoe, who assured Nigerians that leasing, as an industry, would continue to improve its contributions to the country’s economic development.

The new Chairman of ELAN, Elizabeth Ehigiamusoe, said that the impact of the leasing sector is prominent in all sectors of the economy, such as improving capital formation, generating employment and creating wealth.

She said: “The contribution of leasing in the last 10 years is more than N14.3 trillion and is becoming more relevant in the prevailing economic situation, especially to Small and Medium Scale Enterprises (SMEs). Indeed leasing can play a major role in the actualisation of the various economic plans of the Government, to stimulate growth”.

ELAN added that equipment leasing globally is a creative financing alternative that facilitates access to capital equipment to enhance the planning, improvement, and development of any economy by building and supporting productive ventures.

Other members of the newly elected board of ELAN are the Managing Director and CEO of Frontline Trust Limited, Tunde Netufo, who emerged as the vice chairman of ELAN; the General Manager, of Corporate Banking Group, Sterling Bank Plc, Adegboyega Adegun; and the Managing Director/CEO of Coscharis Mobility Limited, Mr. Christian Chigbundu.