Nigeria’s Fintech Surge Drives Explosive Growth in Buy-Now-Pay-Later Market
Lagos, July 4, 2025 | Springnewsng — Nigeria’s rapidly expanding fintech sector is powering a major boom in the buy-now-pay-later (BNPL) industry, offering millions of consumers new ways to access credit without traditional banking barriers.
According to recent market data, the BNPL model has gained strong momentum due to increasing smartphone penetration, a youthful digital-savvy population, and growing e-commerce adoption across Nigeria and Sub-Saharan Africa.
Fintech companies are leading the charge by integrating BNPL options into mobile apps and online platforms, making it easier for users to split payments for goods and services. Analysts say the trend is reshaping consumer behavior, particularly among millennials and Gen Z users.
Industry players such as Carbon, Paylater, and CredPal are leveraging artificial intelligence and data analytics to offer instant credit decisions, even to the unbanked or underbanked.
Experts predict that Nigeria’s BNPL market could surpass $1 billion in transaction value by 2027 if current growth trends continue. However, they caution that regulation and consumer protection must keep pace to avoid future debt risks and credit misuse.
The Central Bank of Nigeria has hinted at introducing guidelines to monitor digital lending, including BNPL, as part of broader fintech regulations.
As fintech adoption continues to soar, the BNPL model is emerging as a key driver of inclusive financial services, transforming how Nigerians shop and pay.
