- The Nigerian Consumer Credit Corporation (CREDICORP) has introduced a structured financing initiative allowing Nigerians to book domestic flights and repay the costs over time.
- Developed in partnership with MyVisaro and Alert Microfinance Bank, the scheme aims to alleviate the financial strain on citizens who are increasingly forced to choose air travel due to security concerns on interstate roads.
- With ticket prices currently averaging between ₦120,000 and ₦200,000 per route, the “Fly Now, Pay Later” program seeks to remove the upfront payment barrier that has made flying a luxury for many.
The Federal Government on Tuesday, March 17, 2026, officially rolled out a consumer credit initiative tagged “Fly Now, Pay Later.”
Eko Hot Blog reports that the program, spearheaded by the Nigerian Consumer Credit Corporation (CREDICORP), is designed to provide eligible citizens with access to structured financing for local flights, effectively allowing them to travel immediately while spreading the repayment over a specified period.
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According to a statement released via the agency’s official X handle, the initiative is being implemented through a strategic collaboration with fintech platform MyVisaro and Alert Microfinance Bank.
The government maintains that this scheme is a critical step toward deepening financial inclusion and ensuring that essential services, such as safe transportation, remain accessible to a broader segment of the population.
The launch of the scheme comes at a time when air travel has shifted from a luxury to a necessity for many Nigerians.
Rising incidents of road accidents, as well as the persistent threat of kidnappings and abductions by armed groups on major highways, have made road travel increasingly perilous.
Consequently, more citizens are turning to the skies for safety, only to find themselves blocked by soaring ticket prices.
Current market findings indicate that domestic airfares have surged significantly due to the high cost of aviation fuel, foreign exchange volatility, and rising operational expenses for airlines.
Standard one-way tickets now typically cost between ₦120,000 and ₦200,000, with prices historically skyrocketing to over ₦300,000 during peak periods.
For the average Nigerian worker, these costs are often prohibitive, making the new credit option a potentially vital lifeline.
However, while the scheme offers immediate relief, economic analysts have expressed caution regarding its long-term impact.
Concerns are mounting that with inflation continuing to erode household purchasing power, credit-based travel could potentially lead to a cycle of debt for struggling families.
Despite these worries, CREDICORP maintains that the structured nature of the financing will be managed responsibly to prevent financial overextension.
Prospective beneficiaries are expected to apply through the Visaro platform by booking their desired domestic destinations.
As the scheme begins its rollout, many will be watching to see if this innovative credit system can truly bridge the gap between Nigeria’s security needs and its economic realities, providing a safer way to travel without the immediate burden of a heavy financial price tag.
