Equipment leasing has become one of the most acceptable methods of acquiring the relevant asset base which businesses and individuals need to function competitively in Nigeria and is widely utilized as a financing method both in the formal and informal sectors of the economy. This has ensured that certain products and services, which were hitherto minimally available or unavailable, have now become steadily and easily accessible.
Today, the practice of leasing in Nigeria has materially evolved in terms of its practice, with increased participation, regulation and also challenges.
This work will show that the equipment leasing laws in Nigeria still remain inadequate to cater to the needs of the growing industry, despite recent strides in boosting regulation. It analyses the legal regime of equipment leasing in Nigeria, the impact of the legal regime on its practice and proposed adjustments in the laws that could enhance the general use and practice of equipment leasing.
Business Law Review