LECON Finance Company Limited, a Central Bank of Nigeria (CBN)-licensed finance company, says it has disbursed over N30 billion in leases to businesses nationwide.
This achievement reinforces its pivotal role in powering Nigeria’s productive sectors and expanding the country’s leasing ecosystem.
“Since inception, we have financed over 2,000 projects across key industries including agriculture, healthcare, logistics, manufacturing, education, transportation, construction, and renewable energy. In the last five years alone, the company has supported more than 230 projects, enabling enterprises to acquire vital equipment and assets that enhance productivity, drive innovation, and create jobs,” it said in a statement.
Through its strategic leasing and financing solutions, LECON has emerged as a catalyst for inclusive and sustainable economic growth. The company focuses on sectors critical to Nigeria’s long-term prosperity — food and agro-processing, mining and solid minerals, renewable energy and climate, healthcare and pharmaceuticals, ICT and telecommunications, and women-led enterprises.
By making productive assets accessible to smallholder farmers, schools, healthcare providers, transport operators, and emerging entrepreneurs, LECON is closing the financing gap that limits the potential of underserved groups. These interventions are transforming local industries and boosting Nigeria’s productivity.
Reaffirming LECON’s dedication to making leasing available to businesses, the Managing Director/CEO, Mrs. Ebehiriere Ehi-Omoike, said “we are on a mission to democratize access to productive assets for businesses of all sizes to create real impact. These milestones reflect our dedication to building a resilient and inclusive financial ecosystem,”
As one of the earliest institutions in Nigeria’s leasing industry, LECON remains a cornerstone of Nigeria’s leasing ecosytem having been instrumental in legitimizing leasing as a credible and effective financing tool for large corporates and MSMEs alike.
By offering flexible, asset-backed financing, LECON empowers businesses to invest in modern equipment without the heavy burden of upfront capital costs. This model has strengthened confidence in leasing as a sustainable growth instrument, helping enterprises expand and thrive.
The company continues to shape Nigeria’s leasing landscape through thought leadership and active participation in the Equipment Leasing Association of Nigeria (ELAN), where it is a pioneer member.
LECON’s strong institutional credibility and financial strength anchors its reputation for sound governance, risk management, and operational discipline which has earned it a consistent “A+” credit rating from Agusto & Co., thus confirming its robust financial health and institutional resilience.
As a CBN-licensed finance company and a subsidiary of the Bank of Industry (BOI), LECON operates with full regulatory compliance and a clear mandate to deliver financial solutions that promote inclusive growth and national development.
LECON’s heritage spans more than five decades. Established in 1970 under Nigeria’s indigenization policy as the Commonwealth Development Corporation (CDC), it was later acquired as a wholly owned subsidiary of the Nigerian Industrial Development Bank Limited (NIDB) — the precursor to today’s Bank of Industry (BOI).
In 1989, it became the Leasing Company of Nigeria (LECON) to reflect its focus on leasing. In 2022, the pioneer institution was rebranded as a legacy institution with a modern vision to LECON Finance Company Limited, signaling a new era of transformation, growth, and broader financial inclusion.
LECON’s N30 billion lease portfolio represents more than financial success — it reflects tangible economic and social impact. Through its leasing operations, the company has facilitated job creation across key sectors, improved productivity for local enterprises, financial inclusion for underserved entrepreneurs and empowerment of women-led and youth-driven businesses
Its project portfolio covers agro and food processing, healthcare, petrochemicals, education, transport, logistics, manufacturing, construction, renewable energy, solid minerals, mining, and aviation with each project contributes to a more resilient, diversified Nigerian economy.
As Nigeria continues to pursue economic diversification, LECON remains committed to driving inclusive and sustainable financing. The company’s mission is to enable businesses — large and small — to access the productive assets they need to grow, compete, and create long-term value.

The International Monetary Fund (IMF) has called on governments worldwide to build stronger institutions and ensure the independence of their central banks.
At the IMF Annual Meetings in Washington, DC, IMF Managing Director Kristalina Georgieva spoke yesterday at the Civil Society Town Hall Programme, part of the pre-opening events at the ongoing World Bank/IMF Annual Meetings.
The IMF chief also played down the impact of US tariffs on many world economies, saying the effect of the tariffs has decreased compared with the position at the April 2025 meetings.
She added that the private sector is currently much stronger than it was in April, signalling improvement in global economic performance.
She further acknowledged the devastating impact of high debt levels on world economies, urging countries to pursue more growth to reduce the burden of debt on their economies.
“The impact of tariffs is not as dramatic as we feared. US tariffs are lower today than they were last April.
“Many countries have chosen not to retaliate and are avoiding tit-for-tat actions, which is protecting world trade.
“There should be concerted efforts to bring debts down and support global economic recoveries, even as there is a need to identify pathways to resolving the debt crisis,” she said.
Georgieva called on countries to grow out of debt and create more development opportunities.
Reflecting on global progress over the decades, she said: “The average person today is much better off than, say, 30 years ago, but the averages conceal deep undercurrents of marginalisation, discontent, and hardship.
“Many people in many places—especially the young—are taking their disappointment to the streets: from Lima to Rabat, from Paris to Nairobi, and from Kathmandu to Jakarta, all are demanding better opportunities.”
She noted that the most important discussions at the Annual Meetings will focus on the global economic impact of these transformative forces and the policy turbulence we are experiencing.
“How is the world economy coping? Short answer: better than feared, but worse than we need.
“When we met in April, many experts—not us—predicted a U.S. recession in the near term, with negative spillovers to the rest of the world.
“Instead, the U.S. economy, as well as many other advanced and emerging markets and some developing countries, have held up.
“As our World Economic Outlook will explain next week, we see global growth slowing only slightly this year and next. All signs point to a world economy that has generally withstood acute strains from multiple shocks,” she said.
According to her, the resilience of global economies is attributable to improved policy fundamentals, private sector adaptability, less severe tariff outcomes than initially feared—for now—and supportive financial conditions—as long as they hold.

• Urges CBN to loosen grip on rates

Nigeria could end the year with its lowest inflation in nearly a decade, according to the Independent Media and Policy Initiative (IMPI), which has projected headline inflation to drop to 17 per cent by December 2025.
In its latest policy statement signed by Chairman Dr. Omoniyi Akinsiju, the think tank noted that the economy is experiencing one of its rare periods of disinflation, marked by five consecutive months of inflation decline.
The group, however, insists the Central Bank of Nigeria (CBN) must match this rare economic momentum by easing its restrictive monetary stance.
It urged the CBN’s Monetary Policy Committee (MPC) to begin easing the benchmark interest rate to consolidate gains.
“Empirically speaking, the Nigerian economy is now in a disinflationary dispensation. Nigeria recorded a rare disinflation in 2025, with inflation falling from 24.5 per cent in January to 20.12 per cent in August, the sharpest mid-year slowdown in over a decade”, IMPI said.
According to the group, three key factors have shaped the current inflation deceleration: the Central Bank’s decision to hold rates at 27.50 per cent, which curbed credit demand and speculative forex activities; relative stability in the foreign exchange market due to higher inflows from oil, remittances, and non-oil exports; and improved food supply following better harvests and calm in food-producing regions.
With inflation already below the Central Bank’s 21 per cent target for the year, IMPI said the momentum could push the figure down to 17 per cent by December, close to the Federal Government’s 15 per cent goal.
“Attaining this target has huge microeconomic implications,” it stressed, projecting that the MPC may cut the Monetary Policy Rate by at least 50 basis points at its next meeting and by as much as 200 basis points before year-end.
It also recommended lowering the Cash Reserve Ratio from 50 per cent to 35 per cent by December, saying this would ease the cost of credit, spur business expansion, and support job creation.
Beyond monetary policy, IMPI highlighted the recovery of Nigerian firms after steep losses triggered by the Federal Government’s 2023 decision to float the naira.
Following a sharp depreciation that saw the currency fall from N460/$ in mid-2023 to N1,535/$ by the end of 2024, several consumer goods companies—including BUA Foods, Cadbury, Nigerian Breweries, and Nestlé Nigeria—reported combined losses of over N418 billion in Q1 2024.
The think tank said the return of relative exchange rate stability, coupled with cost restructuring, has since reversed the trend.
“By Q1 2025, the same companies posted a combined pre-tax profit of N289.8 billion, and by Q2 2025, they had returned to a combined profit of N264 billion,” it noted.
IMPI argued that the sharp turnaround underscored how policy stability and market adjustments can restore investor confidence.
“This captures the context in which domestic and global commentators have returned a verdict of stability for the Nigerian economy,” the statement concluded.