The Group Managing Director of C&I Leasing Plc, Ugoji Lenin Ugoji, said that government intervention programmes and investment in priority areas, especially infrastructure, have underscored the demand for capital assets.
Ugoji, who stated this at the company’s 31st annual general meeting (AGM) held in Lagos, said Nigeria is moving more and more towards infrastructure independence and for a company like ours, “we believe that we can play a role in that independence by facilitating the operation of that infrastructure”.
As the Federal Government restrategizes to unlock rapid development in infrastructure, C&l Leasing Plc has unveiled plans to explore opportunities by realigning its business model to enable it to manage assets in that space and sustain growth in the next financial year, Ugoji said.
Ugoji stressed the need for the government to deepen its support for the industry by improving both the regulatory and operating environment, especially in the area of tax moderation.
According to him, a favourable tax policy would stimulate activities in both the demand and supply side of the leasing industry in Nigeria and spur economic growth.
Government Investment In Infrastructure Underscores Demand For Capital Assets – C&l Leasing
Ugoji also disclosed that the company would soon expand its business activities and increasing operational efficiency in the existing ones.
He remarked that the company would focus more on fleet management, marine, and other non-oil businesses to diversify the risk in oil and gas.
“Our business expansion will come in the form of fleet management because we feel that there are many opportunities in fleet management space and the marine business but more in the non-oil sector so that we can diversify the risk of oil and gas. We may look at acquiring vessels in the area for dry product movement.”
He also noted that inflationary pressures and exchange rate fluctuations are two issues the company continues to grapple with, adding that measures are in place to hedge against such uncertainties.
“We thank our shareholders for their patience; we also ask them to give us that support for us to be able to transform some of these initiatives into cogent sustainable benefits,” he said.