Abuja, Nigeria – The Nigerian Consumer Credit Corporation (CREDICORP) unveiled a “fly now, pay later” scheme to ease domestic air travel costs for Nigerians. Eligible users book flights upfront and repay via installments. The initiative partners with Visaro and Alert Microfinance Bank in West Africa’s largest population center.
Customers access credit at booking to skip full upfront payments. This targets urgent trips hindered by cash shortages. CREDICORP aims to boost financial inclusion through structured loans.
Okay News reports the program’s goals. The corporation stated, “We are proud to introduce Fly Now, Pay Later, a new consumer credit solution designed to make local air travel more accessible for Nigerians.” It adds that users book today and repay over time, removing payment barriers.
CREDICORP rolled out similar plans recently. YouthCred offers N100,000-N150,000 to corps members. CALM Fund aids CNG conversions and solar systems. Pension loans tie to inflows with Leadway Trustees.
A N20 billion auto credit fund backs local makers like Innoson and Mikano. These expand credit for youth, retirees, and green tech. The fly scheme fits broader access drives.
Yet fares stay high amid fuel costs at N1,850-N2,000 per litre from Middle East tensions. Uyo-Abuja flights start at N133,500; Enugu-Lagos at N137,500. At N70,000 minimum wage, one-way equals nearly two months’ pay.
IATA data shows Nigerians take just 40 flights per 1,000 people yearly. Jet fuel hikes pass to tickets. Credit helps flexibility but affordability limits reach to middle earners.
The scheme promotes responsible lending via data systems. Users visit visaro.ng to start. It aligns with goals for mobility and economic participation despite high baseline costs.
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