The Federal Government has identified equipment leasing as a key strategy for empowering young agripreneurs, increasing agricultural productivity and strengthening Nigeria’s food security.
The Equipment Leasing Registration Authority (ELRA) made this known at the grand finale of the fifth edition of the Agriculture, Youth and Technology (AYuTe) Nigeria Challenge organised by Heifer International Nigeria, where it reaffirmed its partnership with the development organisation to improve young entrepreneurs’ access to productive assets through affordable leasing solutions.
Registrar and Chief Executive Officer of ELRA, Donald Wokoma, said limited access to modern equipment remains one of the biggest barriers preventing many young entrepreneurs from expanding their agribusinesses.
He explained that equipment leasing enables entrepreneurs to acquire tractors, irrigation systems, agro-processing machines and other productive assets without the burden of high upfront costs, making it easier for businesses to grow while preserving working capital.
Wokoma said expanding access to productive equipment would improve agricultural output, strengthen value chains, create jobs and support Nigeria’s drive for food security.
He also announced plans for the proposed ELRA-Heifer Youth Enterprise Leasing Initiative, which will connect leasing companies, financial institutions, equipment manufacturers and development partners with youth-owned businesses.
According to him, the initiative will provide affordable access to tractors, irrigation facilities, agro-processing equipment, cold storage systems, delivery vehicles, renewable energy solutions, ICT equipment and other productive assets needed to scale agribusinesses.
Country Director of Heifer International Nigeria, Lekan Tobe, said the AYuTe Nigeria Challenge was established to make agriculture more attractive to young people by promoting innovation and technology.
He noted that beyond the competition, the programme offers mentorship, business development support, networking opportunities and investment linkages to help young entrepreneurs build scalable agritech businesses that create jobs and improve livelihoods.
Minister of State for Agriculture and Food Security, Aliyu Abdullahi, reaffirmed the Federal Government’s commitment to supporting young agripreneurs through strategic investments, innovation and partnerships.
He encouraged young innovators to adopt emerging technologies such as artificial intelligence, drone technology and precision farming to modernise agriculture and improve productivity, while assuring them of continued government support through improved access to land, finance, quality farm inputs and strategic partnerships.
At the event, Kelechi Oleka emerged as the overall winner of the 2026 AYuTe Nigeria Challenge, receiving a $20,000 grant. Bello Amos-Bwala won the second prize of $12,000, while Udokanma George received $8,000 for finishing third.