LECON Finance Company Limited, Nigeria’s pioneering leasing institution and a Central Bank of Nigeria (CBN)-licensed finance company, has announced a major milestone — disbursing over N30 billion in leases to businesses nationwide.
This achievement reinforces LECON’s pivotal role in powering Nigeria’s productive sectors and expanding the country’s leasing ecosystem.
Since inception, LECON has 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.
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, Ebehiriere Ehi-Omoike, Managing Director/CEO, LECON, 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 ecosystem, having been instrumental in legitimising 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.
Read also: We’ve financed over 230 projects across sectors – Ehi-Omoike, MD, LECON
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 anchor 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 indigenisation 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, signalling a new era of transformation, growth, and broader financial inclusion.
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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 contributing to a more resilient, diversified Nigerian economy.
As Nigeria continues to pursue economic diversification, LECON says it 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.