The Rise of the BPNL Economy In Nigeria

By Reginald Onabu

EasyBuy, EasyLife

"He who wears a wristwatch can tell time. He who owns a smartphone can control it." — Modern Nigerian Proverb

In the 21st century, digital access is no longer a luxury—it is the foundation of economic inclusion. For a country like Nigeria, where the population exceeds 220 million and the median age hovers around 18, the stakes are high. The nation is blessed with a vast and youthful workforce. But this demographic advantage becomes a missed opportunity when millions are digitally disconnected, not by choice, but by cost.

Human capital is Nigeria’s most important resource. Yet, for that capital to yield dividends, citizens must be connected to the digital economy. That means owning smartphones, accessing learning platforms, participating in e-commerce, or simply being able to take a remote job interview on WhatsApp.

The catch? Smartphones are expensive. Laptops cost even more. Most Nigerians live on irregular incomes and can’t afford to pay for devices upfront. Enter Buy Now Pay Later (BNPL)—an alternative credit model that’s quietly reshaping the country’s digital access economy. At the heart of this shift is a rising fintech force: EasyBuy.

A New Credit Culture

BNPL, while still emerging, is solving a core issue in Nigerian finance: traditional lending doesn’t work for the everyday person. Banks are risk-averse, microfinance loans come with suffocating interest rates, and most Nigerians are either unbanked or underbanked. According to EFInA’s latest report, only 51% of Nigerian adults have access to formal financial services.

BNPL flips the script. It offers immediate access to a product, with payment spread across several weeks or months—no lengthy paperwork, no collateral, no impossible interest rates. EasyBuy leverages this model to make smartphones and essential gadgets accessible to the average Nigerian.

A student in Akure can now get a device to attend online classes. A fashion vendor in Abuja can shoot product videos for Instagram. A Bolt driver in Enugu can afford a replacement phone without breaking the bank. For each of these use cases, one thing rings true: EasyBuy, EasyLife.

More Than Just Phones

While smartphones remain the entry point, the BNPL economy is extending its reach. EasyBuy’s mission goes beyond phone financing—it is helping Nigerians step into digital inclusion and financial identity.

Through EasyBuy, users are gradually introduced to credit scoring. Timely repayments build their profile, helping them access larger financing options in the future. This slow, user-friendly onboarding to the world of credit is critical in a country where credit history is virtually non-existent for most people.

Beyond credit, it’s also about dignity. In a society where access to digital tools shapes opportunities—from education and employment to healthcare and mobility—ownership matters. EasyBuy’s model is not charity. It’s empowerment. It offers Nigerians the chance to own, not borrow; to progress, not just survive.

A Digital Economy Needs Digital Citizens

There’s a reason governments and global development agencies are paying attention to digital inclusion. According to the World Bank, increasing broadband penetration by just 10% in low and middle-income countries can lead to a 1.38% increase in GDP. But for broadband to matter, people must have the devices to access it.

Despite over 100 million mobile internet subscriptions in Nigeria, a significant portion of these are still tied to low-end feature phones. The growth of e-commerce, edtech, fintech, and telemedicine is hampered by device accessibility. For the digital economy to scale, it needs digital citizens—equipped, empowered, and online.

EasyBuy, EasyLife isn’t just a slogan. It’s a real-time answer to Nigeria’s device gap, and by extension, its digital divide.

Cultural and Behavioral Fit

BNPL works in Nigeria not just because there’s demand, but because the behavior is familiar. “Pay small small” is a deeply Nigerian concept. From paying school fees in tranches to buying groceries on credit from the local shop, staggered payment is woven into daily life.

What EasyBuy does is formalize and digitize that behavior—creating a trust-based, tech-enabled system that is both intuitive and scalable. It’s a system designed not for the elite, but for the millions hustling, planning, and hoping for something better.

And the results speak. EasyBuy has already financed hundreds of thousands of devices across the country. In markets like Lagos, Ibadan, Kano, and Port Harcourt, their footprint is expanding—one device, one installment at a time.

Challenges and the Road Ahead

Of course, BNPL isn’t a silver bullet. Like any credit model, it carries risk—default rates, fraud, and over-indebtedness. EasyBuy counters these with a combination of in-person verification, device tracking, and user education.

But perhaps the greatest challenge lies in public perception. In a society where credit often equals debt traps, building trust is paramount. That’s why companies like EasyBuy focus on transparency—clear repayment terms, zero hidden fees, and human-centered customer service.

As Nigeria’s fintech space matures, the demand for embedded finance solutions will only grow. And as this happens, BNPL has the potential to become not just a product offering—but a pillar of modern financial services in Africa’s largest economy.

Final Thoughts: Why Access Matters

The dream of a prosperous Nigeria depends not just on roads and refineries—but on access. Access to information, to networks, to opportunity. And increasingly, access begins with a screen.

With EasyBuy, that screen is within reach. It’s not just a smartphone—it’s a gateway to a better job, a side hustle, a remote degree, a digital wallet, a healthier life.

As BNPL continues to rise, and as fintech players refine their models, one thing is clear: EasyBuy, EasyLife is more than a tagline. It’s a promise—and one that’s delivering, day by day, across the streets of Nigeria.

Reginald Onabu, Brand & PR Professional. writes from Nigeria.