The Equipment Leasing Registration Authority (ELRA) and Heifer International Nigeria have deepened their partnership to expand affordable equipment leasing for young entrepreneurs, aiming to unlock access to productive assets, boost agribusiness growth, and create jobs.

This initiative was announced at the fifth edition of the Agriculture, Youth and Technology (AYuTe) Nigeria Challenge in Abuja, where stakeholders emphasized the need for improved access to equipment, technology, and financing to enhance agricultural productivity and food security.

ELRA's Registrar, Donald Wokoma, highlighted that leasing allows young entrepreneurs to access machinery and technology without large upfront costs, paying over time from business income.

The proposed ELRA-Heifer Youth Enterprise Leasing Initiative will connect leasing companies, financial institutions, manufacturers, and partners to provide affordable leasing opportunities for youth-owned businesses.

This will improve access to tractors, irrigation systems, agro-processing equipment, cold storage, delivery vehicles, renewable energy, and ICT tools, enhancing business productivity and competitiveness.

The collaboration aims to deepen financial inclusion, stimulate agricultural productivity, strengthen food security, and support Nigeria's economic transformation.The AYuTe Challenge also recognized top agritech innovators, with Kelechi Oleka winning a $20,000 grant for Kyoko Foods Ltd., while others received prizes for their agribusiness ventures.

The event underscored the importance of innovation, technology, and partnerships in modernizing agriculture and creating sustainable livelihoods for youth.