FG launches fly now, pay later scheme 

In a significant move to tackle the soaring costs of air travel, the Federal Government has officially launched the "Fly Now, Pay Later" consumer credit product.

The initiative, rolled out through the Nigerian Consumer Credit Corporation (CREDICORP), is designed to democratize access to the skies for millions of citizens. 

By providing a structured financing framework, the government aims to remove the upfront payment barrier that has historically made domestic air travel a luxury for a small segment of the population.

According to a statement released on Tuesday, the product is a direct response to the recent surge in airfares across the country. 

The corporation noted that the scheme is being delivered in strategic partnership with Visaro, a fintech platform specializing in credit-powered payments and Alert Microfinance Bank.

"This initiative ensures that opportunity doesn't have to wait for liquidity. Eligible Nigerians can now book essential trips today and manage the costs through flexible, transparent repayment plans," the statement read. 

Under the new arrangement, travelers are no longer required to provide the full ticket cost at the point of booking. Instead, they can visit the official portal at visaro.ng to select their destination and opt for a financing plan that spreads the payment over a set period.