The Federal Government has taken a significant step towards transforming Nigeria’s informal transport sector by introducing a structured leasing model. Through the Equipment Leasing Registration Authority, also known as ELRA, the government has entered into a strategic partnership with an Information Systems company and the National Commercial Tricycle and Motorcycle Owners and Riders Association of Nigeria.

This collaboration aims to bring order, professionalism, and sustainability into the largely unregulated tricycle and motorcycle transport business that serves millions of Nigerians daily. The new leasing framework is designed to provide operators with access to quality vehicles under formal and transparent terms, thereby reducing the risks associated with informal arrangements and promoting better asset management.

Stakeholders believe the initiative will not only improve the quality of service in the transport sector but also create a more secure and productive environment for riders and owners. By formalizing leasing processes, the partnership is expected to boost economic opportunities, enhance road safety standards, and contribute to the overall growth of Nigeria’s transportation industry.