The Federal Government has unveiled a new consumer credit scheme that will allow eligible Nigerians to book domestic flights and repay over time.
The initiative, branded Fly Now, Pay Later, was announced by the Nigerian Consumer Credit Corporation, CREDICORP, as part of efforts to widen access to local air travel and ease the burden of upfront ticket costs.
CREDICORP said the scheme is being delivered in partnership with MyVisaro and Alert Microfinance Bank, with applications to be processed through the Visaro platform.
The launch comes amid persistent pressure on domestic airfares, which have risen sharply in recent periods on the back of high aviation fuel costs, foreign exchange pressures and wider operating expenses across the sector.
By introducing structured repayment for flight bookings, the government appears to be targeting travellers who may need to move urgently for work, family, health or other essential reasons but cannot readily afford the full ticket price at once.
The scheme also aligns with the broader push to deepen consumer credit access in Nigeria and bring more individuals into formal financing channels.
However, key operational details were not immediately clear in early public disclosures. Important terms such as interest rates, repayment duration, borrower eligibility, deposit requirements and default conditions will shape how useful and affordable the scheme proves for passengers.
That fine print will be critical. A credit-backed airfare product may improve access to travel, but its long-term value will depend on transparent pricing, fair lending standards and protections against over-indebtedness.
The aviation sector has faced sustained cost pressures in recent months, with airlines repeatedly citing fuel prices, exchange rate challenges and maintenance costs as major drivers of higher fares. In that context, any product designed to reduce the immediate cash burden on passengers is likely to attract public attention.
For now, the launch marks a notable policy move at the intersection of transportation and consumer finance. Whether it delivers meaningful relief for domestic travellers will depend on how the scheme is implemented and whether its repayment terms are practical for ordinary Nigerians.
