Leasing in Nigeria
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State of the market:
Equipment leasing registered a steep early growth rate. The 1993 volumes showed a jump of 100% over 1992 figures. Banks are also involved in leasing.
In 1993, the leasing association had 51 members, which obviously indicates a broad-based market share distribution.
Leasing association:
Equipment Leasing Association of Nigeria
National Engineering Centre
1 Engineering Close
Off Idowu Taylor Street
Victoria Island
Lagos - Nigeria
Law and regulations relating to leasing:
The general regulations relating to financial institutions extends to leasing companies as well.
Nigeria has adopted the UNIDROIT convention on international financial leases [for full text, see the Laws section on our home page].
Taxation issue of admissibility of capital allowance to finance lease transactions has been faced in Nigeria.
Relevant links: