The Nigerian Government has unveiled a new consumer credit initiative, “Fly Now, Pay Later,” aimed at making domestic air travel more accessible to citizens facing rising travel costs.
Announced on Tuesday by the Nigerian Consumer Credit Corporation (CREDICORP) via its official X account, the scheme allows eligible Nigerians to book local flights immediately and repay the cost over time through structured financing arrangements. The initiative seeks to remove the upfront payment barrier that has prevented many from travelling by air.
“Through this initiative, eligible customers can book domestic flights today and repay the cost over time through structured financing, removing the upfront barrier that often delays important trips,” the agency stated.
CREDICORP said the programme is being implemented in partnership with fintech platform MyVisaro and Alert Microfinance Bank, as part of broader efforts to expand access to consumer credit and financial services nationwide. Interested travellers are encouraged to apply via the Visaro platform to book flights within Nigeria.
The move comes as air travel within the country increasingly shifts from luxury to necessity, with road travel growing riskier due to rising cases of accidents, kidnappings, and attacks linked to suspected terrorist groups.
However, the cost of domestic flights has surged, with one-way tickets typically ranging between ₦120,000 and ₦200,000, placing them beyond the reach of many Nigerians. During peak travel periods, fares have reportedly spiked by as much as 150 percent, surpassing ₦300,000 on some routes. Airlines attribute the persistent hikes to rising aviation fuel costs, foreign exchange instability, and growing operational expenses.
While the “Fly Now, Pay Later” scheme may provide immediate relief for travellers, experts warn that credit-based travel solutions could risk trapping financially strained Nigerians in cycles of debt if not carefully managed.
The initiative reflects the government’s attempt to balance financial inclusion with the growing demand for safe and reliable domestic travel amidst economic challenges.
