The Equipment Leasing Registration Authority and Heifer International Nigeria have deepened their partnership to make farming equipment more affordable for young business owners. The organisations announced the renewed commitment at the fifth edition of the Agriculture, Youth and Technology Nigeria Challenge in Abuja this week.
Both groups say expanding access to equipment, technology and financing is vital for boosting farm productivity and creating jobs across Nigeria. They also stressed that better access to productive assets will strengthen the country's food security.
Donald Wokoma, registrar and chief executive of ELRA, told attendees that leasing offers a practical path for young entrepreneurs with good ideas but limited cash. "Equipment leasing remains a practical financing solution for young entrepreneurs who possess innovative ideas but lack the capital to acquire machinery and technology needed to scale their businesses," he said.
Wokoma explained that leasing lets business owners access tractors, irrigation systems and other assets without huge upfront payments. Instead, they pay over time using income the equipment generates.
The two organisations will now launch the ELRA–Heifer Youth Enterprise Leasing Initiative. This scheme aims to bring together leasing firms, banks, equipment makers and development partners to offer affordable leasing deals for young agribusiness owners.
The initiative will make it easier for youth entrepreneurs to access tractors, irrigation systems, agro-processing equipment, cold storage facilities, delivery vehicles, renewable energy solutions and ICT equipment. Wokoma said the collaboration will deepen financial inclusion, boost agricultural productivity and contribute to Nigeria's economic transformation.
He praised Heifer International Nigeria for investing in youth entrepreneurship through innovation and skills training. Wokoma described the AYuTe Nigeria Challenge as a platform nurturing the next generation of agribusiness leaders.
Lekan Tobe, country director of Heifer International Nigeria, said the AYuTe challenge was created to make farming attractive to young people. He noted that the programme goes beyond annual competitions to offer mentorship, business support, networking and investment connections.
"The programme provides mentorship, business development support, networking opportunities and investment linkages that enable promising agritech entrepreneurs to build scalable businesses capable of creating jobs and improving livelihoods," Tobe said.
He explained that these support systems help young farmers build businesses large enough to create employment and improve people's lives across rural communities. The AYuTe Nigeria Challenge uses innovation and technology to transform how Nigeria produces food.
