LECON Finance Company Limited, a Central Bank of Nigeria (CBN)-licensed finance company and subsidiary of the Bank of Industry (BOI), has disbursed more than N30 billion in leases to businesses nationwide, with a major focus on empowering micro, small, and medium enterprises (MSMEs).
The company said this achievement reinforces its role as a key driver of Nigeria’s productive sectors and a catalyst for inclusive, sustainable growth.
According to LECON, over 2,000 projects have been financed since its inception across industries such as agriculture, healthcare, logistics, manufacturing, education, transportation, construction, and renewable energy. In the past five years alone, it has financed more than 230 projects, enabling small and growing businesses to acquire critical equipment and assets that boost productivity, stimulate innovation, and create jobs.
Through its tailored leasing and financing solutions, LECON is bridging the funding gap that limits MSMEs from scaling their operations. The company’s portfolio targets sectors essential to Nigeria’s long-term growth — including food and agro-processing, renewable energy, healthcare, ICT, mining, and women-led enterprises.
By providing access to productive assets for smallholder farmers, schools, hospitals, and transport operators, LECON is helping underserved entrepreneurs improve output and competitiveness. These interventions are transforming local industries and strengthening the non-oil economy.
Reaffirming the company’s mission, Managing Director and CEO, Mrs. Ebehiriere Ehi-Omoike, said LECON remains committed to ensuring small businesses can access productive assets without financial strain. “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,” she said.
As one of Nigeria’s oldest leasing institutions, LECON has been instrumental in legitimizing leasing as a reliable financing tool for both large companies and MSMEs. By offering flexible, asset-backed financing, the company enables enterprises to invest in modern machinery without the heavy burden of upfront capital, thereby promoting business expansion and sustainability.
LECON’s leadership in the leasing industry is also evident through its participation in the Equipment Leasing Association of Nigeria (ELAN), where it serves as a pioneer member. Its financial strength and governance have earned it an “A+” credit rating from Agusto & Co., reaffirming its institutional stability and credibility.
Operating under CBN regulation and BOI supervision, LECON continues to provide financing solutions that align with Nigeria’s economic diversification goals.
Founded in 1970 under Nigeria’s indigenization policy as the Commonwealth Development Corporation (CDC), LECON evolved into the Leasing Company of Nigeria in 1989 and was rebranded in 2022 as LECON Finance Company Limited to reflect a modern vision rooted in innovation and inclusion.
Beyond financing, LECON’s N30 billion lease portfolio demonstrates real impact, creating jobs, improving enterprise efficiency, and expanding opportunities for youth and women entrepreneurs. Its projects span sectors such as agro-processing, healthcare, education, logistics, manufacturing, renewable energy, construction, and aviation, all contributing to a more resilient and diversified economy.
As Nigeria deepens its push for industrial and MSME growth, LECON says it remains steadfast in helping businesses access the assets they need to grow, compete, and thrive. “Our goal is to make asset financing available to every entrepreneur with a vision to build,” the company stated.
