FG launches ‘fly now, pay later’ for local flights amid rising air fares

The federal government has launched a fly now pay later (FNPL) initiative for domestic flights, where working Nigerians can book flights and pay later through a structured financing model.

The initiative, launched on Tuesday under the Nigerian Consumer Credit Corporation (CREDICORP), aims to remove upfront financial barriers that mostly delay important trips. The scheme allows Nigerians to book local trips and pay later based on a strategic model.

“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,” part of the statement read. 

CREDICORP noted that the initiative is part of its broader mandate to promote financial inclusion and improve access to essential services through innovative credit schemes.

In addition, the scheme is being delivered in partnership with MyVisaro and Alert Microfinance Bank, as part of its dedication to ensuring access to fair and responsible consumer credit networks.

“At CREDICORP, we remain committed to expanding responsible consumer credit and enabling Nigerians to live better now, including flying locally. Fly now. Pay later. Opportunity shouldn’t wait,” it said. 

For Nigerians who want to apply, the corporation urged individuals to visit visaro.ng and book a local flight across Nigeria. 

Aside from the newly launched initiative, CREDICORP has rolled out consumer credit for Nigerians to boost local industries and economic productivity. 

Some of the initiatives include Project S.C.A.L.E. (local goods/energy), YouthCred (youth empowerment), 10,000 Women in Mobility, and the C.A.L.M Fund (green energy/mobility). The schemes provide credit for solar systems, electric vehicles, household equipment, and personal loans for civil servants and young professionals.

Also Read: Complete guide on how to apply for the NYSC YouthCred loan.

Why the fly now pay later initiative?

The fly now pay later scheme comes amid growing concerns over the surge in domestic air travel. This further increases the existing affordability challenge. As fares rise, many passengers are switching to road transport, despite security risks.

Since the yuletide period, one-way flights from hubs like Lagos to Asaba, Abuja, or Enugu have seen prices jump.

As of 2023, a one-way Lagos-Abuja ticket was N48,000 on Arik Air, N50,000 on Dana, N55,000 on Ibom Air, N50,000 on Max Air, 49,714 on ValueJet and N45,000 on Air Peace. 

Now, the prices have surged by about 300% with an average cost of a one-way Lagos-Abuja or Abuja-Lagos ticket selling above N150,000.

In December, a one-way flight from Lagos to Abuja on Air Peace was between N125,000 and N168,000; Ibom Air – 152,000 and 171,000; Max Air – N115,000 and N140,000; ValueJet – N145,000 and N189,000; and Aero Contractors – N135,000 and N162,000.

The surge is largely driven by the cost of Jet A1 fuel, which has risen from previous levels to roughly ₦1,500–₦1,600 per litre. Fuel accounts for 30–40% of airline operating costs, making its price a direct driver of ticket increases. 

The fly now, pay later is related to the Emirates airline scheme, which allows Kenyans to break up payments in instalments instead of paying the full amount upfront. Under the initiative, customers can spread payments across up to five instalments within 24 hours. 

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