By Oluwafunke Ishola

A Nigerian technology company, SmallSmall, has advocated flexible payment arrangements as a more sustainable alternative to Black Friday discounts in improving access to essential goods and services.

Co-founder of the company, Mr Tunde Balogun, said that high upfront costs, rather than lack of consumer demand, remained a major barrier to affordability in Nigeria.

Balogun, in a statement on Thursday in Lagos, said that discounts alone could not address the financial constraints preventing many Nigerians from accessing essential items such as educational materials, housing, electronics and household appliances.

He said that the challenge of limited access to formal credit made it difficult for consumers to spread payments over time, in spite of increasing financial inclusion.

Citing the 2026 Access to Financial Services survey by the  Financial Inclusion and Advancement (EFInA), Balogun said that formal financial inclusion had reached 73 per cent, representing 87.2 million adults, while only about 12 million had access to formal credit.

“We have bank accounts. We do not have credit. No nation on earth has improved the quality of life of its citizens without giving them access to credit,” he said.

He said that structured instalment payments could provide consumers with an alternative to cash-based borrowing, enabling them to acquire essential goods while spreading costs over an agreed period.

Balogun also cited estimates indicating that Nigeria’s Buy Now, Pay Later (BNPL) market was valued at 1.62 billion dollars in 2025 and projected to reach 2.61 billion dollars by 2030.

He said that the growing market reflected increasing interest in alternative payment arrangements, but stressed the need for responsible borrowing and financial discipline.

To promote the approach, Balogun said the company had introduced a consumer campaign, Bright Friday, with the theme, “Keep Your Cash, Pay SmallSmall”.

He said the initiative, which would run on the SmallSmall App, was designed to encourage consumers to prioritise flexible payment arrangements over pressure-driven spending.

The News Agency of Nigeria (NAN) reports that SmallSmall provides housing and payment solutions through its RentSmallSmall, BuySmallSmall and ShopSmallSmall platforms.

The company currently serves more than 50,000 Nigerians accessing housing and household needs through instalment payments. (NAN)(www.nannnews.ng)

Edited by Olawunmi Ashafa