Nigeria’s Buy Now, Pay Later (BNPL) market is projected to grow by over 83% in the next six years, driven by fintech expansion.
The State of Enterprise 2025 Report by EnterpriseNGR stated that Nigeria’s BNPL market should reach a market value of $2.61 billion by 2030, up from $1.42 billion in 2024.
The report notes the role of fintech companies in transforming the Nigerian business landscape through digital financial tools, automation, and inclusive credit services.
The report credits the rapid growth of fintechs with enhancing Nigeria’s business adaptability and resilience. “Fintech companies have significantly enhanced Nigeria’s business ecosystem by providing tools and services that support business growth and adaptability.
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“These include improved customer service, access to capital, digital financial tools, data-driven insights, global connectivity, and collaborative innovation.
“Key contributions include streamlining digital payments, automating billing and payroll, and offering consumer services such as Buy Now, Pay Later,” the report said.
The report highlighted significant growth in remittance inflows into Nigeria, following the Central Bank of Nigeria’s 2024 policy reforms.
“There are now over 400 licensed digital lenders in Nigeria. In addition, fintechs have strengthened remittance services; under the CBN’s 2024 guidelines, increased competition has boosted inflows by 63.7 percent from $2.33 billion in 2023 to $3.82 billion in 2024,” it stated.
This growth reflects the rising impact of fintech in deepening financial access, promoting inclusion, and enabling cross-border transactions through digital channels.
