Abuja: The Nigerian Navy has pledged full support for the Equipment Leasing Registration Authority (ELRA) in enforcing the Equipment Leasing Act, 2015. The Chief of Naval Staff, Vice Adm. Idi Abbas, gave the assurance during a courtesy visit by officials of the authority to the Naval Headquarters in Abuja.
According to News Agency of Nigeria, this commitment was highlighted in a statement released by the ELRA’s Head of Media and Corporate Communication, Adebola Sunday. Sunday quoted the Registrar and Chief Executive Officer, ELRA, Donald Wokoma, reaffirming the agency’s dedication to enhancing transparency and accountability within the leasing sector. Wokoma emphasized the role of ELRA in promoting leasing as a catalyst for economic growth, ensuring that leased assets are properly registered and traceable to improve transparency and maritime enforcement.
In response, Vice Adm. Abbas underscored the importance of asset registration for economic stability in the maritime domain. He reiterated the Nigerian Navy’s readiness to collaborate with ELRA, stating that effective asset registration plays a vital role in bolstering economic activity and oversight. Abbas also praised the partnership between ELRA and Admiralty Maritime Services Limited (AMSL), noting that leasing allows operators to expand their fleets without the need for substantial upfront capital investment.
Both organizations have agreed to enhance their operational collaboration, improve information sharing, and develop structured frameworks to boost compliance, increase investor confidence, and protect national economic interests.