Lease Equipment: How Essential is it in Nigeria?

“A Rose is Still a Rose. A lease won’t make it less of a flower”.

Nobody said that, but a lease really does not make you less than what you are. Every business requires a bit of help to survive; from the construction giants building a five-star hotel to the state government building a drainage canal.

 Lease options are an opportunity to reduce capital expenditure. Why own an asset that can only be used once when you can lease it? That’s an obvious question to be asked by any prudent investor. It comes within the realms of how to reduce cost and how to increase profit.

 A new high-rise building sprung up in the Bodija neighborhood of Ibadan. The speed of the construction and its purpose were what caught my eyes. It is a hotel and a mall built as one. I was impressed by the concept. The plan is fantastic, and the neighborhood was perfect for it.

 I noticed cranes and equipment used to transport concrete up the floors instead of using manual labor. I did not wonder what they were because I already knew about equipment leases and how specialized equipment can be.

 The ones pumping concrete up the floors were the most impressive for me. It had just two people operating it; one on the ground controlling the machine and one upstairs controlling the flooring. There were a few other men feeding the machine sand, cement, water, and granite, but that was all the help they needed.

Specialized equipment is some of the least talked about innovations that boosted the agriculture revolution in Nigeria. Construction and many other areas of human endeavor are also experiencing a boom for this. Lease equipment is one that is boosting investment in its own way.

 An equipment lease frees up funds and reduces the capital invested in big projects. By extension, it helps to finish projects faster. In its little way, this alone adds a quota to the economy without being so obvious.

 We can get projects going earlier than we used to and get less financial outlay than we used to. We can put the equipment to full use when we spread its use over several projects in an equipment lease capacity.


 A few companies have held sway as regards equipment leases in Nigeria. comes to mind when seeking the best equipment in agriculture, construction, healthcare, etc.

Share This Post

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email

Stay Updated


Subscribe today

Don't miss any of our financial literacy Updates

We won’t send you spam. Unsubscribe at any time.

Open chat
Hello, welcome to FundQuest Chat Room!
How can we be of help?