The Federal Government has unveiled a new credit initiative tagged “Fly Now, Pay Later” to make domestic air travel more accessible for Nigerians.

The scheme was announced by the (CREDICORP), which said the initiative allows eligible individuals to book flights within Nigeria and pay in installments over time.

How the scheme works

According to CREDICORP, the program is designed to remove the burden of upfront ticket payments, enabling more Nigerians to travel when needed without financial strain.

The initiative is being implemented in partnership with and as part of efforts to expand access to consumer credit.

Interested applicants are required to visit the Visaro platform, select their preferred destination within Nigeria, and choose a repayment plan based on structured financing options.

Addressing rising air travel costs

The move comes amid growing concerns over the high cost of domestic flights, which has made air travel increasingly unaffordable for many Nigerians.

Airfares surged significantly during the 2025 festive season, with some one-way tickets rising by over 150 percent to more than N300,000. Airlines have blamed the hike on rising aviation fuel costs, foreign exchange challenges, and operational expenses.

Boosting financial inclusion

CREDICORP noted that the “Fly Now, Pay Later” initiative aligns with its broader goal of promoting financial inclusion and improving access to essential services through innovative credit solutions.

The agency added that the scheme will help Nigerians meet urgent travel needs while spreading payment over time, easing financial pressure.

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The Nigerian Consumer Credit Corporation (CREDICORP) has launched a landmark pension-backed loan program, giving retirees access to affordable credit for the first time.

Unveiled in Abuja under the theme “Empowering Retirement with Consumer Credit”, the initiative is in partnership with Leadway Trustees and Optimus Bank. It allows retirees to take low-interest loans using their pension income as collateral.

CREDICORP MD/CEO Engr, Uzoma Nwagba in his remarks stated that: “This first-of-its-kind product ensures that Nigeria’s seniors can access credit with dignity, without the burden of exorbitant rates or complex processes”

“Annuitants are the backbone of Nigeria’s progress, yet they have been sidelined in the credit ecosystem. This program changes that narrative. By partnering with Leadway Trustees’ expertise in pension management we are delivering a credit solution that is safe, affordable, and transparent.”

Nwagba praised President Bola Tinubu for “driving financial inclusion through the Renewed Hope Agenda,” saying the scheme would help retirees meet needs such as healthcare, home improvements, and small businesses.

The program covers federal and state pensioners and is expected to significantly ease post-retirement financial burdens nationwide.

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