The Federal Government has unveiled a new leasing model aimed at replacing what it described as exploitative hire purchase arrangements for motorcycle and tricycle operators across the country.

The initiative, introduced through the Equipment Leasing Registration Authority in partnership with Century Information Systems Ltd. and the National Commercial Tricycle and Motorcycle Owners and Riders Association of Nigeria, is designed to improve access to vehicles while easing financial burdens on operators.

In a statement issued in Abuja on Thursday by the Head of Media and Corporate Communication of ELRA, Adebola Sunday, the agency said the model would provide a structured alternative to existing financing systems that have long disadvantaged riders.

Sunday quoted the Registrar and Chief Executive Officer of ELRA, Donald Wokoma, as describing the partnership as a major step toward promoting financial inclusion and economic empowerment within the informal transport sector.

“Leasing opens the door to economic participation for many who were previously excluded. By removing heavy upfront payment requirements and introducing structured repayment plans, operators can preserve capital, improve productivity, and increase daily earnings. It is a model that strengthens both individual livelihoods and the national economy,” he said.

He added that access to newer and better-maintained vehicles would help reduce breakdown-related losses and improve operational efficiency across the sector.

Also speaking, the Managing Director of Century Information Systems Ltd., Abdul Balarabe, said the programme would leverage technology-driven solutions to enhance safety and accountability.

According to the statement, Balarabe noted that advanced tracking systems would be deployed to monitor leased assets, curb theft, and improve recovery efforts.

Balarabe said the company would continue to onboard trade associations, cooperatives, and other stakeholders into the leasing ecosystem in order to expand access to structured financing and asset acquisition opportunities.

He urged interested organisations to engage with the company to begin the onboarding process.

In his remarks, the National President of NATOMORAS, Usman Gwoza, welcomed the development, describing it as long-awaited relief for members burdened by high-cost financing and unsustainable repayment terms.

Gwoza assured that the association would mobilise its members nationwide to participate in the scheme, adding that the model would promote dignity, stability, and financial independence among riders.

The move aligns with broader efforts by FG to deepen financial inclusion and formalise large segments of the informal economy, particularly the transport sector, which employs millions of Nigerians.

These conditions have limited operators’ ability to build equity, expand their businesses, or achieve long-term financial stability.

Thousands of Iranians paid tribute on Thursday to the late supreme leader Ali Khamenei, who ruled the country for nearly four decades until his killing in US-Israeli strikes at the start of the Middle East war.

His son Mojtaba Khamenei has succeeded him but he has not been seen in public since before the war, and it appeared unlikely that he would be present at ceremonies being held across Iran on Thursday.

Images broadcast on state television showed thousands of people taaking part in rallies, many holding portraits of the late revolutionary, including in Urmia in the northwest, Gorgan in the northeast and the capital Tehran.

The national homage began at 9:40 am (0610 GMT), the time at which Ali Khamenei was killed on February 28 at his Tehran residence, alongside numerous senior Iranian figures.

The attack marked the start of the Middle East war that rapidly spread across the region, with Iran retaliating against US interests in the Gulf and striking Israel.

Owing to the war, a state funeral has yet to take place for the late leader.

AFP

The Independent National Electoral Commission has recorded over 3.4 million new voters in the ongoing second phase of the Continuous Voter Registration exercise nationwide.

According to the commission’s week 13 update released on Wednesday in Abuja, a total of 3,441,121 registrations have been completed as of April 3, covering both online pre-registrations and physical walk-ins.

INEC disclosed that 2,068,384 citizens completed their registration online, while 1,372,737 others registered physically at designated centres across the country.

State-by-state data showed that Jigawa recorded the highest number of registrants with 201,047, representing 5.84 per cent of the total.

Lagos followed with 181,095, while Kano ranked third with 177,681 registrations.

Youth participation remained dominant, with citizens aged between 18 and 34 accounting for 2,354,768 registrants, representing 68.43 per cent of the total figure.

Gender distribution indicated a higher turnout among women, with females accounting for 1,922,143 registrations (55.86 per cent), compared to 1,518,978 males (44.14 per cent).

On occupational breakdown, students formed the largest group of new voters at 1,235,931, representing 35.92 per cent.

This was followed by those in business at 701,912 (20.40 per cent) and individuals in farming and fishing at 615,967 (18.28 per cent).

INEC also reported that 48,330 Persons with Disabilities registered during the period.

The commission noted that the figure remains provisional, explaining that it is “a preliminary figure pending data clean-up during the period for citizens’ claims and objections, followed by the deployment of the Automated Biometric Identification System.”

It further stated that voter registration remains suspended in the Federal Capital Territory in line with Section 9(6) of the Electoral Act 2022, following the Area Council Election held on February 21.

INEC urged eligible Nigerians who have yet to register to visit its official portals to complete their registration before the deadline.