LECON champions leasing culture for Nigeria’s growth

MRS. EBEHIRIERE EHI-OMOIKE (Managing Director, LECON Finance Company Limited)

PUBLISHED: TheGuardian Newspaper 17th September 2025.

LECON Finance Company Limited, a leasing firm, has reaffirmed its commitment to transforming business financing through innovative leasing solutions that are reshaping the country’s economic landscape.

For more than three decades, the company has enabled over 230 businesses across diverse sectors to thrive despite the rising cost of doing business, a challenge that continues to weigh heavily on enterprises globally.

By providing simplified access to financing, flexible payment terms, and tailored lease structures that align with business cash flows, LECON has positioned leasing as a credible alternative to conventional financing. Its offerings, particularly for small and medium enterprises, include simplified documentation, comprehensive asset insurance, tracking, and advisory services covering project and risk assessments.

This model, the company insists, not only eases access to critical assets but also ensures that businesses remain competitive and sustainable.
According to the Managing Director and Chief Executive Officer of LECON, Ebehiriere Ehi-Omoike, the company is driving a new culture of leasing as the most efficient option for businesses. She explained that leasing remains the best solution for startups that require equipment but cannot afford outright purchase, existing businesses seeking upgrades, seasonal ventures such as farming, and organisations looking to optimise their tax positions.

Ehi- Omoike said, “We design our lease structures to match the cash flow of the businesses we support because our interest is in their long-term success. This is why we have prioritised six key sectors that we believe hold strong potential for Nigeria’s economic growth, including mining and solid minerals, food and agro-processing, renewable energy, healthcare, telecoms and ICT, as well as women-owned enterprises.”

Ehi-Omoike noted that in mining, LECON finances extraction and processing equipment, while in agro-processing it provides manufacturing, storage, and distribution facilities to boost food production and create jobs. She added that the company’s renewable energy focus is deliberate, given the country’s persistent power supply deficit.

“If Nigeria is to make meaningful progress, we must diversify energy sources. That is why we provide leasing solutions for inverters, battery systems and are prepared to support the government’s drive towards green energy adoption, including CNG-powered and electric vehicles,” she stated.

She further explained that in healthcare, the company has been financing modern diagnostic equipment such as MRI machines, dialysis units, and delivery vehicles, while in telecoms and ICT, it has been supporting digital inclusion by financing ICT systems, telecom infrastructure, and power solutions.

“In line with our inclusive development strategy, we also have special offerings for women-led businesses in these sectors to ensure gender inclusivity in the economy,” she said.

Ehi-Omoike pointed out that global leasing trends have vindicated LECON’s model. “The global leasing volume rose from $1.55 trillion in 2023 to $1.86 trillion in 2024, and Nigeria saw a 28.7 per cent increase to N4.19 trillion. This shows that businesses are embracing leasing over outright ownership, which is no longer sustainable in a world of fast-changing technology,” she said. She stressed that with an “A+” credit rating from Augusto and Company, backing from the Bank of Industry, and technical support from the World Bank, LECON is well positioned to play a pivotal role in Nigeria’s economic transformation. “Our promise remains to provide businesses with the tools to grow, while reinforcing leasing as a driver of prosperity and improved quality of life for Nigerians,” she added.

PUBLISHED: TheGuardian News 17th September, 2025.