The Nigerian leasing industry has come of age as it continues to provide succor to many organizations across all sectors in the economy. The industry has achieved a consistent double-digit growth rate over the years, buoyed by market opportunities, and lease awareness among corporates.
A report released by the Equipment Leasing Association of Nigeria, ELAN in 2017 shows volume surged 14.5percent to N1.44trillion in 2017 as against N1.26trillion in 2016. While in 2018 outstanding lease volume surged 16.3percent to N1.68trillion from N1.44trillion in 2017, bringing the cumulative volume in the past 10 years to about N8.3trillion and this is expected to hit N10trillion when the final figure for 2019 is released
Analysis of the volume by sector in 2017 shows that the oil and gas took the lead with N449billion, representing 28percent of the total portfolio, while transportation followed with N355 billion, representing 20percent. Manufacturing moved to N217 billion from N180 billion in 2016, while Agriculture, Government, Telecommunications and other sectors (education, healthcare, construction, and consumer sectors) recorded considerable growth.
One company that has continued to play a prominent Nigeria’s leasing space is C & I leasing, incorporated in 1990 as a limited liability company, and licensed by the Central Bank of Nigeria to offer operating and finance leases and other ancillary services.
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