FG, Heifer International Push Equipment Leasing to Power Youth Agribusiness Growth

The Federal Government, through the Equipment Leasing Registration Authority (ELRA), has identified expanding access to equipment leasing as a critical strategy for boosting agricultural productivity, strengthening food security, and empowering young Nigerians to build sustainable agribusinesses.

The authority made this position known at the grand finale of the fifth edition of the Agriculture, Youth and Technology (AYuTe) Nigeria Challenge, organised by Heifer International Nigeria on Tuesday. At the event, ELRA reaffirmed its strategic partnership with the development organisation aimed at improving young entrepreneurs' access to productive assets through affordable leasing solutions.

Speaking at the event, the Registrar and Chief Executive Officer of ELRA, Donald Wokoma, said inadequate access to equipment and modern technology remains one of the biggest obstacles preventing many young entrepreneurs from scaling their businesses, despite many possessing innovative ideas and strong technical skills.

According to Wokoma, equipment leasing offers a practical financing model that allows entrepreneurs to acquire tractors, irrigation systems, agro-processing machines, and other productive assets without carrying the burden of huge upfront capital costs. He stressed that improving access to such equipment would not only help youth-owned enterprises expand but also increase agricultural output, strengthen value chains, and support Nigeria's broader quest for food security.

He explained that ELRA and Heifer International Nigeria remain committed, as longstanding partners, to expanding access to productive assets for young entrepreneurs through innovative leasing solutions designed to unlock business growth, improve productivity, strengthen agricultural value chains, and create sustainable jobs.

The ELRA boss further disclosed that the two organisations plan to deepen their collaboration through a proposed ELRA-Heifer Youth Enterprise Leasing Initiative, an arrangement designed to connect leasing companies, financial institutions, equipment manufacturers, and development partners with youth-owned businesses. He explained that the initiative would provide affordable access to a wide range of productive assets, including tractors, irrigation facilities, agro-processing equipment, cold storage systems, delivery vehicles, renewable energy solutions, and ICT equipment needed to grow businesses.

Wokoma said the initiative is expected to deepen financial inclusion, improve agricultural productivity, create jobs, and contribute meaningfully to Nigeria's broader economic transformation. He commended Heifer International Nigeria for its consistent investment in youth entrepreneurship, innovation, and agricultural development through the AYuTe Nigeria Challenge, describing the programme as one of the country's leading platforms for nurturing young agribusiness leaders.

Also speaking at the event, the Country Director of Heifer International Nigeria, Dr Lekan Tobe, explained that the AYuTe Nigeria Challenge was established to make agriculture more attractive to young people by leveraging innovation and technology to transform the country's food systems. He noted that beyond the annual competition itself, the programme provides mentorship, business development support, networking opportunities, and investment linkages that enable promising entrepreneurs to build scalable agritech businesses capable of creating jobs and improving livelihoods.

The Minister of State for Agriculture and Food Security, Dr Aliyu Abdullahi, also used the occasion to reaffirm the Federal Government's commitment to supporting young agripreneurs through strategic investments, innovation, and partnerships aimed at accelerating agricultural transformation. He urged young innovators to embrace emerging technologies, including artificial intelligence, drone technology, and precision farming, to help modernise agriculture and improve productivity nationwide. Abdullahi assured participants that the Federal Government would continue working to create an enabling environment through improved access to land, finance, quality farm inputs, and strategic partnerships.

At the grand finale, Kelechi Oleka, founder of Kyoko Foods Limited, emerged overall winner of the 2026 AYuTe Nigeria Challenge, taking home a $20,000 grant. Bello Amos-Bwala, founder of AgriGoo Trades and Commodity, secured second prize worth $12,000, while Udokanma George, founder of Yemert Nigeria Limited, placed third and received $8,000.

The event also featured a university roadshow showcase, a panel discussion on youth-led agritech innovation for food systems transformation, and the unveiling of three Nigerian winners who will go on to represent the country at the continental AYuTe Africa Challenge.

The development comes as the Federal Government continues to prioritise agriculture under President Bola Tinubu's Renewed Hope Agenda, with a strong focus on mechanisation, youth participation, food security, and private-sector investment. The administration has identified increased agricultural productivity as a key strategy for reducing food inflation, creating jobs, and strengthening Nigeria's economy. Stakeholders, however, note that limited access to machinery, modern equipment, and affordable financing remains one of the biggest challenges confronting young farmers and agribusiness owners, a gap that equipment leasing initiatives like ELRA's are increasingly being positioned to close.