Nigerian Government Unveils 'Fly Now, Pay Later' Scheme to Ease Cost of Domestic Flights
The Federal Government of Nigeria has introduced a groundbreaking financing initiative aimed at making domestic air travel more accessible to citizens. On Tuesday, the Nigerian Consumer Credit Corporation (CREDICORP) announced the launch of the 'Fly Now, Pay Later' scheme, which allows eligible Nigerians to book domestic flights immediately and repay the cost over time through structured installment plans.
Addressing the Upfront Payment Barrier
For many Nigerians, booking a flight has increasingly become a luxury due to rising costs. The new scheme specifically targets the upfront payment obstacle that often delays or prevents important trips. According to CREDICORP, eligible customers can now book domestic flights today and spread payments across an agreed period, based on consumer credit assessments.
'Eligible customers can book domestic flights today and repay the cost over time… removing the upfront barrier that often delays important trips,' stated CREDICORP in their announcement.
How the Scheme Operates
The 'Fly Now, Pay Later' product is being rolled out in partnership with MyVisaroAlert Microfinance Bank. Through this collaboration, users can:
- Book flights to any destination within Nigeria
- Pay in installments over an agreed period
- Access financing based on eligibility checks
Applications are currently routed through Visaro's platform (visaro.ng), where users can initiate both flight bookings and financing requests.
Responding to Soaring Domestic Airfares
The timing of this initiative is particularly significant given the recent dramatic increases in domestic airfare prices. During the 2025 festive season, one-way tickets on some routes surged by as much as 150%, crossing the ₦300,000 mark. Separate investigations indicate that some tickets reached as high as ₦400,000–₦600,000 during peak periods.
Airlines have attributed these price hikes to familiar pressures including:
- Aviation fuel (Jet A1) costs
- Foreign exchange volatility
- Rising operational expenses
For travelers, even routine trips like Lagos to Abuja have begun to feel like international expenses, creating the gap the government is now attempting to fill with this financing scheme.
Potential Benefits and Concerns
On the surface, this scheme appears to benefit middle-income earners who need to travel for work, emergencies, or family obligations but struggle with upfront payments. However, the eligibility criteria will be crucial in determining who actually benefits.
If requirements are too strict, those who need assistance most may be excluded. Conversely, if they're too lenient, there's risk of defaults—something Nigeria's financial system treats seriously. Additional concerns include undisclosed interest rates and hidden charges, which haven't been fully detailed in the initial announcement.
Online reactions have been mixed, with some expressing skepticism about the scheme's practicality in Nigeria's current economic climate. One social media user cautioned: 'Fly Now, Pay Later sounds tempting, but with Nigeria's economy, people should be careful easy credit can quickly turn into debt many can't handle.'
A Potential Paradigm Shift
The 'Fly Now, Pay Later' scheme represents more than just a travel financing option—it could potentially reshape how Nigerians approach paying for significant expenses beyond aviation. If successful, this initiative might establish a precedent for installment-based payment systems across various sectors of the economy.
As the scheme rolls out, close attention will be paid to its implementation details, accessibility to different income groups, and its overall impact on domestic travel patterns across Nigeria.
