₦airaland Forum

And Tinubu struck again

That something looks good on paper does not necessarily mean it will work out well in reality especially here in Nigeria

BNPL in Nigeria where you don't have a Sepa mandate for example.

That's the simplest recipe to bankruptcy.

oshkoach:
It’s difficult for businesses without government direct or indirect support to thrive in this country.

A country that is the poverty capital
Of the world

A country where 89% of its citizens can not save due to the high cost of living where expenditure outpace income.

Those supporting APC, pls ask yourself when last you buy new boxers? All the monies goes into feeding and rent and transport

This your boxers statement made me burst laugh.

In two years now I’ve not bought any new clothes for myself. No new shoes, no new wristwatch and even underwear.

Except God that Apc can't destroy, nothing in this world APC can't finished

Yen yen yen yen

Capitalists

If feasibility studies were done before hand, it would have been clear that most Nigerians dont like to pay back loans. They will owe you and still insult and challenge you, that's why most people in Nigeria will never lend a fellow Nigerian any money - paying back is where enmity starts.

You started with a brilliant idea but chose the wrong market to start with.

AMCON is still chasing owners of large corporations that are unwilling to pay back their debts and your model is focused on the populace with many of them looking for how to defraud one another?

Most Nigerians aren't wired to pay back what they owe.

Stephen0mozzy:
Credit Facility is a very volatile market in Nigeria. That's why banks have not bothered to offer Credit cards.

And those that dare offer loans, will samma you with high interest rate to hopefully cover bad, unrecoverable debt or literally ask you to lay down your testes as collateral.

Your second paragraph explains the first

It's a very tough market to scale in Nigeria without the necessary financial backbone and compliance systems. Too many moving parts across different parties, and then regulators.

nlfpmod:
Nigerian 'Buy Now Pay Later' Startup Klump Shuts Down after Five Years



https://cyberomin.github.io/startups/2026/10/25/the-end-of-the-road-for-klump.html

This is a very brilliant writeup. Nigerians can be great people when they mean business.

favor914:
Failures will blame their president for them being Failures.

Your demigod is blaming the opposition for his failures after he and his party have held power for 12 years.

So, who's the joke on now?

Stephen0mozzy:
Credit Facility is a very volatile market in Nigeria. That's why banks have not bothered to offer Credit cards.

And those that dare offer loans, will samma you with high interest rate to hopefully cover bad, unrecoverable debt or literally ask you to lay down your testes as collateral.

Credit for Naija ..na tough sector...

My Alhaji friend who was successful as a loan shark have good relationship

with all most all the security outfit in my state ..

apart from this

He went back to school to read law....

He is ready to take you to the abyss to recover his loans..

AndroBlaze:
When you have issues climbing your wife, blame him too

Exactly. That's when you are restless, your thing couldn't stand due to worry and hopelessness of the economy. That guy is pure evil. Everything he touches, he destroys.

favor914:
Failures will blame their president for them being Failures.

True. Just like the failure currently hiding in Aso Rock that keeps on blaming past presidents for him being a failure.
That guy's a disgrace.

mindtricks:
True. Just like the failure currently hiding in Aso Rock that keeps on blaming past presidents for him being a failure.
That guy's a disgrace.

Are u blaming me for u being a Nigerian .

Loan services isn't yet ripe for Nigeria not with the way we run our banking system... Until there is auto debit on any account linked to your bvn to service your pending loan automatically can this stuff truly work and boom

All this textbook becos you don shut down. Omo..na wa oo. Una for just tell us say una don shutdown and that the whole idea isn't working out again and we'd understand immediately instead of giving us headache with all this your long texts. Who get time to read long note wey we no dey prepare for one professional exam.

Abeg o..naija wahala is already for us. Make we solve that one first...bikonu

Jayhome24:
So Jumia and other in operation na,Tinubu too?

Pls do tu go to school at all? So yu can't reason proper to understand credit facility has never and can never work in Nigeria. Na wah oo.

jumia dropped many works, they are just managing to be in business. I ran into an old friend at Pen cinema Agege who used to work with them, what he told me about jumia wasn't funny, now he doesn't have work anymore.

Starting a new business in this economy now is a big risk, you can continue to fund your already established investments and keep managing them, but starting a new one might end up giving you a high BP because your capital would either vanish or finish before you know it.

Michelin and Dunlop...where are you?

'They' said you would soon be back...

You want do buy now pay later for Nigeria with too many 419 scams ?

Waka

Fekumzi123:
Very beautiful story there

Sad story but written beautifully

Oga when everything is cheap did u praise the country ...
Did u praise Nigeria as d best country ?

Or even the president in charge ??

So what u are saying is skeptical 🤔

We deserved it all

oshkoach:
It’s difficult for businesses without government direct or indirect support to thrive in this country.

A country that is the poverty capital
Of the world

A country where 89% of its citizens can not save due to the high cost of living where expenditure outpace income.

Those supporting APC, pls ask yourself when last you buy new boxers? All the monies goes into feeding and rent and transport

mindtricks:
True. Just like the failure currently hiding in Aso Rock that keeps on blaming past presidents for him being a failure.
That guy's a disgrace.

Before tinubu did u praise OBj ?

Jonathan's or Buhari??

When they are in power ?

So if you blame tinubu too then they are birds of same feathers bro ..

because when things were very cheap none of you ever praise d government of our dear country ..

So we all deserved it

Is Klump a “word play” or attempt to copy Klarna?

Either way, BNPL is a rough, risky market to play in, in Nigeria

laivwire:
BNPL in Nigeria where you don't have a Sepa mandate for example.

That's the simplest recipe to bankruptcy.

Are there no countries in the world that don’t have SEPA but successfully run BNPL? SEPA is an EU thing

An average Nigerian doesn't payback loans. We want everything to be free since time immemorial. This is not about Tinubu as we all like to believe. We take loans, spend on frivolities and try to dodge repayment which is the intention at the onset.

nlfpmod:
Nigerian 'Buy Now Pay Later' Startup Klump Shuts Down after Five Years



https://cyberomin.github.io/startups/2026/10/25/the-end-of-the-road-for-klump.html

Why you dey bother explain to APC people?Daniel Bwala clearly said that once a person starts supporting ApC,the brain stops working.

Design4l:
jumia dropped many works, they are just managing to be in business. I ran into an old friend at Pen cinema Agege who used to work with them, what he told me about jumia wasn't funny, now he doesn't have work anymore.

How many Nigerian elderlies use jumia or other online marketplaces? Youths mostly use these services, and how many youths are gainfully employed? The elderlies will live out their lives if they're not unlucky to be taken by terrorists, but the youths are faced with serious problems. It is not being negative, many youths today will fail to achieve what their own parents achieved. It is not a curse, it is the government.

favor914:
Yes o, ceejay80s will also blame him.

Haba wetin I do

Look fellows.
You simply cannot separate corporate existence from the environment it operates in. Don't corporations exist to serve PEOPLE. Isn't the ocean there to serve the fish. Can the dish prisoner in a toxic ocean...?

I will always say this..
THERE IS NOTHING LIKE A WELL RUN ECONOMY.
No substitute.

And that is why in developed countries the economy is the most contested airspace. Citizens fight tooth and nail for it. See France, see the US, see the UK. Above all the political sentiment ever imagined by man, the condition of the economy trumps all (no pun intended).

Ran into a radio program yesterday while on the road about the Dangote IPO and all the lovely idealism of future prosperity and whatever and I thought to myself of my friend who bought shares some two decades ago that are now worth less than 30 percent of what they were in real terms, today.

Why, the way the economy has been run over that period. And the fact that Nigerians ran it aground by not superintending over it. So what is he guarantee that your 525 today will not be worth 125 in another twenty years from now if you are not a share trader to manipulate yourself head above water.

So I do not blame those that depend on the prosperity of the people they serve for folding up. They either had a good fish in a toxic pond or they needed a hard shelled crustacean in a totally hostile body of water to survive. Whatever the case just watch what you seek to cultivate in this country because the people will not right for it's survival.

They cannot make the linkages between their political.choices with their economic experiences. They don't care whether you survive or not.

airsaylongcome:
Are there no countries in the world that don’t have SEPA but successfully run BNPL? SEPA is an EU thing

I used Sepa as an example. I know it's an EU thing but something similar would be a priority for a commercial BNPL model to work effectively in Nigeria considering the typical Nigerian repayment mentality.