Nigerian Navy Supports Equipment Leasing Authority in Abuja

On a courtesy visit to the Equipment Leasing Registration Authority (ELRA) at the naval headquarters in Abuja, Vice Admiral Idi Abba, the Chief of Naval Staff, pledged the Nigerian Navy's full support for the enforcement of the Equipment Leasing Act of 2015. Mr.

Donald Wokoma, the Registrar and Chief Executive Officer of ELRA, reaffirmed the authority's commitment to strengthening transparency and accountability within the leasing sector. He highlighted that ELRA promotes leasing as a driver of economic growth, ensuring that leased assets are properly registered and traceable to enhance transparency in maritime enforcement.

Vice Admiral Abba described asset registration as critical for economic stability within the maritime domain and expressed the Navy's readiness to collaborate with ELRA to effectively register assets and strengthen economic activities. He commended the partnership between the Navy and ELRA, noting that leasing enables operators to expand fleets without heavy upfront capital investment.