Nigerian Equipment Leasing Sees 37.28% Growth in Q1 2026

The Equipment Leasing Association of Nigeria reported a 37.28% year-over-year increase in new leases during the first quarter of 2026, totaling ₦157.90 billion. The outstanding portfolio reached ₦6.698 trillion by the end of March 2026, having more than tripled nominally since 2020. The association cited high equipment prices, elevated operating expenses, and limited long-term funding as key challenges in the market.

The growth indicates that leasing is serving as a critical method for businesses to acquire necessary equipment without paying the full purchase price upfront, which helps preserve liquidity. The market is concentrated, with the top 20 participants holding over 90% of the outstanding portfolio.