Nigeria’s CEO statement

Tulupay - A product of Fintech Inclusion Holdings, Mauritius

Nigeria, with a population of over 220 million people, presents both immense potential and significant challenges in the financial sector. Currently, around 36% of Nigerian adults, or nearly 40 million people, lack access to basic financial services. This financial exclusion has a profound impact on economic growth and development, as it limits opportunities for individuals and businesses to participate fully in the economy.

The Nigerian market is ripe for transformation. With over 64 million adults owning a mobile phone and the country’s internet penetration rate reaching 47% in 2023, there is a substantial opportunity to leverage technology to bridge the financial inclusion gap. Moreover, the informal sector, which comprises about 65% of Nigeria’s economy, remains largely unbanked and underserved by traditional financial institutions. This represents a massive untapped market for innovative financial services that can cater to the unique needs of this segment.

At Tulupay Nigeria, we saw this gap as a call to action. Six years ago, we set out with a mission to develop a robust financial ecosystem that reaches every corner of the country, providing accessible and affordable financial solutions to all Nigerians. Through our technology-driven approach, we have introduced products that make banking services more accessible to the underserved, offering seamless transactions, micro-lending, and digital wallets tailored to the needs of everyday Nigerians.

The Nigerian economy, which contributes over 70% of West Africa’s GDP and is projected to grow by 3.3% annually over the next five years, offers a fertile ground for expanding financial services. By bringing more Nigerians into the formal financial system, we not only empower individuals but also enhance economic stability and growth. Our goal is to support this growth by creating a more inclusive financial network that enables Nigerians to save, borrow, and invest securely and efficiently.

Our journey has been greatly supported by strategic partnerships with local and international organizations that share our vision of financial inclusion and economic empowerment. Together, we are committed to driving innovation and adhering to regulatory standards that protect and benefit all users. Today, Tulupay Nigeria stands as a leader in the financial sector, dedicated to reshaping the future of financial services in Nigeria and ensuring that everyone, regardless of their background or location, has the opportunity to participate fully in the economy.