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• Infinity Media
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Wealth Profile Of C & I Leasing Plc

In the dynamic landscape of Nigerian business, few companies have managed to stand the test of time, adapt, and thrive like C & I Leasing Plc. From humble beginnings as a specialized leasing firm, the company has transformed into a diversified conglomerate with a presence across key sectors and countries. This blog post provides an in-depth look at the wealth profile of C & I Leasing—its operations, financial strength, business units, investments, and future outlook.

A Brief History and Corporate Evolution

C & I Leasing Plc was incorporated in Nigeria in 1990 and has since evolved into a recognized leader in the leasing and support services industry. In 1997, the company became publicly listed on the Nigerian Stock Exchange (NGX), allowing it to access more capital and increase its visibility. Over the past three decades, it has expanded not only in Nigeria but also into Ghana and the United Arab Emirates, operating through subsidiaries and partnerships.

Its impressive expansion and diversification efforts have earned the company respect both within and outside Nigeria’s business environment. This includes a firm presence in areas such as fleet management, marine services, personnel outsourcing, and more—an evolution that reflects both strategic foresight and financial resilience.

Business Structure and Operations

C & I Leasing operates through three core business divisions, which collectively account for its diverse revenue streams and operational strength.

1. Fleet Management Services

C & I Leasing’s vehicle leasing business is perhaps the most visible arm of its operations. The company holds the exclusive franchise for Hertz Rent-a-Car in Nigeria. This allows it to offer short- and long-term vehicle rentals to individuals, businesses, and corporate institutions.

The fleet management division also benefits from the deployment of Citracks Telematics Solutions, a proprietary vehicle tracking and fleet management system. Through Citracks, the company provides enhanced vehicle monitoring, maintenance scheduling, and data-driven fleet optimization, which contributes significantly to cost efficiency and customer satisfaction.

2. Personnel Outsourcing and Human Resource Services

Another pillar of C & I Leasing’s wealth creation strategy lies in its personnel outsourcing business. The company provides manpower solutions to various sectors, including telecommunications, banking, oil and gas, and manufacturing. It also offers training, payroll services, HR consulting, and business process outsourcing.

With a workforce of over 4,500 employees, the company manages thousands of outsourced staff across Nigeria. The company's SDS Training Centre in Lagos supports continuous learning, upskilling, and compliance training for outsourced personnel and client teams alike.

3. Marine Services

The marine division is a major contributor to revenue and plays a strategic role in serving Nigeria’s oil and gas sector. With a fleet of vessels used for offshore support, security patrol, and crew transportation, the company meets the growing demands of international oil companies operating in the Gulf of Guinea and Bonny River Delta.

C & I Leasing’s marine operations are fully compliant with Nigeria’s Local Content Laws, which mandate the use of indigenous assets and manpower in oil and gas-related services. This legal framework has helped the company strengthen its footprint in the marine logistics and offshore oil support market.

Financial Performance: A Testament to Resilience

As of 2024, C & I Leasing Plc recorded significant financial growth, marking a rebound from the challenging economic terrain caused by global inflation and regional instability.

According to its audited financial results:

• Revenue rose to ₦36.67 billion, representing a 78.17% increase from ₦20.58 billion in 2023.

• Net Profit surged by 185.03%, climbing to ₦582.66 million from ₦204.4 million.

This remarkable performance is largely attributed to improved cost management, increased client acquisition, and the strategic expansion of profitable business segments like fleet leasing and marine logistics.

The company’s asset base has also continued to grow steadily. Its long-term investments in vessels, vehicles, tracking technology, and workforce development form the foundation of its wealth accumulation.

Strategic Investment and Capital Market Activities

To sustain growth and maintain its competitive edge, C & I Leasing has embarked on strategic investment drives. In March 2025, the company issued a ₦10 billion commercial paper, aimed at bolstering its working capital and funding business expansion. This debt issuance reflects investor confidence in the company’s fundamentals and its future earnings potential.

Additionally, the company has focused on digital transformation, leveraging cloud technology, telematics, and automation to streamline operations and improve service delivery.

Market Position and Client Base

C & I Leasing is a market leader in Nigeria’s leasing industry. Its clients range from multinational corporations to government agencies, banks, oil and gas companies, telecom operators, and logistics firms. The ability to provide tailored services across sectors has enhanced the company's reputation and recurring revenue stream.

The company's subsidiaries and partnerships in Ghana and the UAE also position it as a regional player with international aspirations. Its marine business, in particular, is poised for expansion into other West African markets, where offshore energy exploration is on the rise.

Corporate Governance and Leadership

Strong leadership and corporate governance have played a vital role in the company’s long-term success. The Board of Directors, comprising experienced professionals across finance, logistics, HR, and technology, ensures that business decisions align with long-term shareholder value.

The management team continues to focus on transparency, risk management, and value creation, maintaining good standing with regulators like the Nigerian Exchange and the Securities and Exchange Commission (SEC).

Future Outlook

Looking ahead, C & I Leasing’s growth strategy revolves around innovation, expansion, and sustainability. The company is exploring ESG-compliant practices, including the introduction of hybrid and electric vehicles in its fleet, and environmentally friendly marine operations.

With Nigeria’s economy projected to rebound and infrastructure development gathering pace, the demand for logistics, leasing, and outsourcing services will only increase. C & I Leasing is well-positioned to capitalize on these trends, ensuring that its wealth profile continues on an upward trajectory.

Conclusion

C & I Leasing Plc is a compelling example of a Nigerian company that has not only survived but thrived amid economic uncertainties. Through its strategic investments, diversified services, and regional expansion, the company has built a robust wealth profile that reflects its vision and adaptability. Its journey from a small leasing firm to a listed conglomerate serving top-tier industries underscores its role as a major contributor to Nigeria’s economic growth.

As investors look toward stable and growth-oriented businesses in West Africa, C & I Leasing Plc remains one of the most resilient and diversified support service providers on the continent.