The Federal Government of Nigeria has launched a fly now, pay later initiative aimed at easing the burden of rising domestic airfares, offering Nigerians a more flexible way to book flights without paying the full cost upfront.

The scheme allows eligible travellers to secure tickets immediately and spread payments over time, providing relief at a time when the cost of air travel continues to climb sharply.

Expanding Access Through Consumer Credit

The initiative is being driven by the Nigerian Consumer Credit Corporation as part of its broader mandate to expand access to consumer financing and reduce financial barriers to essential services.

Under the model, users can book flights and repay in structured instalments based on agreed terms. The goal is to eliminate the upfront payment challenge that often delays urgent or necessary travel.

To power the system, CREDICORP is working with MyVisaro and Alert Microfinance Bank, which handle credit assessments, repayment structures, and financing access.

A Shift Toward Flexible Payment Models

The rollout reflects a growing adoption of flexible payment systems similar to buy now, pay later models that have gained traction in retail and digital services.

For many Nigerians, especially those facing urgent travel needs, the ability to spread payments over time could be a game changer. Instead of postponing trips due to financial constraints, travellers can act immediately while managing costs gradually.

Rising Airfares Driving Urgency

The timing of the initiative is significant, as domestic flight costs have surged in recent years.

Ticket prices on major routes have increased by as much as 300 percent, with fares that once averaged below ₦50,000 now exceeding ₦150,000 on busy routes such as Lagos to Abuja.

This spike is largely driven by the rising cost of aviation fuel, particularly Jet A1, which accounts for a substantial portion of airline operating expenses.

As a result, many Nigerians have shifted to road transport despite safety concerns, highlighting the widening affordability gap in the aviation sector.

Bridging the Travel Accessibility Gap

By lowering the immediate financial barrier, the fly now, pay later scheme is expected to encourage more people to return to air travel.

The initiative not only improves accessibility but also supports the broader aviation ecosystem by stimulating passenger demand during a period of declining affordability.


Part of a Broader Economic Strategy

The programme aligns with CREDICORP’s wider efforts to deepen financial inclusion and boost economic participation.

The agency has introduced several initiatives across sectors, such as:

  • Clean energy
  • Transportation and mobility
  • Youth empowerment
  • Local industry support

These programmes are designed to help Nigerians access essential goods and services without the burden of large upfront payments.

Key Factors for Long-Term Success

While the initiative presents clear benefits, its long-term impact will depend on execution.

Critical factors include:

  • Interest rates and overall cost of borrowing
  • Repayment flexibility
  • Transparency in terms and conditions

There are also concerns around the risk of overborrowing if users take on more credit than they can realistically repay.

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A New Model for Travel Financing

The introduction of this scheme signals a shift in how essential services like travel are financed in Nigeria.

By combining government backing with private sector technology, the model introduces a more flexible and inclusive approach to mobility.

If effectively implemented, the “fly now, pay later” initiative could reshape domestic travel – making it more accessible while adapting to the realities of rising costs.