Business

Top 7 New Loan Apps With Low Interest For Individuals And Businesses In Nigeria

Published

1 year ago

January 23, 2023 12:41 pm

BodexNG

By Femi Adeoya

Do you require emergency funds from the top emerging new loan apps in Nigeria without collateral, documentation and with the lowest interest rate and superfast approval in 2023? I will be reviewing a list of 5 out of the best 10 online lending platforms obtainable in Nigeria that can help you meet your urgent cash needs in 2023, either an individual, business owner or self employed.

So sit back and read, and remember that whenever you are in need of fast loan approval for yourself or for your business, this list of the best reputable loan apps in Nigeria for instant approval below will be very helpful for you.

Lendigo

Lendigo lending platform prides itself as Nigeria’s No 1 SME Finance Provider. It is regarded as one of the best loan apps in Nigeria for small business instant loans. The lending platform offers Nigerian SMEs easy, fast and flexible access to working capital according to meet their business requirements and suited to their finance needs.

If you are a SMEs that provide Retail and Professional services as well as traders of general merchandise such as Electronics, Computing, Phones, Fashion & Apparel, Household Goods among others, then you can apply for Lendigo loan in minutes and get it processed for you.

Migo

Migo (formerly kwikmoney) is a cloud-based lending platform and the 2nd on our list of new loan apps in Nigeria with ow interest and without collateral and documentation. It guarantees quick cash loans.

The application enables you access to instant loan and if willing, to make purchases from merchants or withdraw cash without the need for a smartphone, point-of-sale hardware or plastic cards.

To get a Migo loan, all you have to do is enter your phone number here. You can also get a Migo loan by dialing *561# for MTN, 9mobile, and Glo or *554*561# for Airtel. From the list, select “Request Loan” to see a list of your customized loan offers.

Express Loans

With Express Loans, it might only take a few minutes to apply and receive approval. The cash advance application process is quick and simple – upload National I.D and follow instructions to complete the procedure.

Once the application is approved, money can be instantly transferred to the bank account. It’s our 3rd pick in our list of new instant loan apps in Nigeria without collateral or documentation in 2023.

Fair Credit

Fair Credit is a top selection and one of the best loan apps in Nigeria in 2023. Its loan amounts range between ₦1,500 to ₦1,000,000 with repayment periods from 1 month to 18 months at monthly interest rates from 2.5% to 30% (APRs from 28% to 32%)

Now, the app is more than just a loan app. Fair Credit is owned by a Microfinance bank that is duly licensed by the Central Bank of Nigeria. As such, all your deposits are insured with the Nigeria Deposit Insurance Corporation (NDIC).

FlashNaira Loan App

FlashNaira is a new digital lending platform and the 5th on our list of new loan apps in Nigeria without for low interest, quick approvals and instant cash in 2023. The lending platform provides Nigerian mobile users with convenient lending services with the claim that users can get qualified loan products which is 100% online process.

Loan application process is absolutely secure and safe. FlashNaira promises that never share customer’s information to anyone without consent.

SukFin Loan App — Best for Indirect Lenders

SukFin is another of the new loan apps in Nigeria for 2023. The app provides free and easy way for SMEs in Nigeria, to research and find finance for their businesses.

The organization employs the use of tech and expertise to match SMEs with a variety of lenders — giving access to a number of funding products across Nigeria.

It’s easy to apply and as long as you provide them with requested information — funds can be in your account quickly and instantly.

Coolbucks Loan App

Coolbucks is an instant loan app in Nigeria and best for unsecured monthly instalment loans without collateral within minutes of completing your application.

Depending on your profile, Coolbucks can disburse within 5 minutes to 24 hours of completing our application. The platform provides you up to N5,000,000 within minutes.

The platform also offers small ticket loans from N15,000 to low income customers and up to N5,000,000 to high income customers. Borrowers can access loans within 30 minutes maximum.

Conclusion

Most of the quick loans have zero physical documentation, and no need of collateral and it can be applied online just using your mobile phone. By visiting the official website of the lender, you will be able to apply for instant cash. You will have to enter your personal and income details for loan processing. The lender might ask you to upload the proofs online for verification, following which your loan will be approved or rejected.

Downloading the mobile app is another easy way to apply for quick loans. You need to download the app from Google Play Store or App Store and register yourself with your social media profile or by creating a new profile. After entering basic details such as address, BVN, NIN, bank details, photograph, etc., upload the valid documents.

It is very instructive to warn users not to patronize fake loan apps that have flooded the internet in recent times. These ones are in the habit of sending shame and threatening messages to customers and their contact list. You can read more of their activities here.

Femi Adeoya is the Publisher and CEO of QUICK LOAN ARENA. He writes from Lagos, Nigeria.

Business

TikTok won’t be sold, says Chinese owner as US ban looms

Published

10 hours ago

April 26, 2024 10:58 am

BodexNG

ByteDance, the Chinese parent company of TikTok, says it has no intention of selling the social media platform.

“Foreign media reports that ByteDance is exploring the sale of TikTok are untrue,” the company wrote in a statement on Toutiao, a news aggregation app that it owns.

“ByteDance doesn’t have any plan to sell TikTok.”

The statement was in response to an article by The Information on Thursday saying “ByteDance is exploring scenarios for selling TikTok’s US business without the algorithm that recommends videos to TikTok users”.

The development followed after the US passed a law to force ByteDance to sell the hugely popular video app or be banned in America.

The sell-or-ban measure was signed into law by US President Joe Biden on Wednesday.

The bill, passed by the senate on Tuesday, follows concerns among US lawmakers that China could access Americans’ data or use the app for surveillance.

In March, the house of representatives passed a bill to ban TikTok unless the app parts ways with ByteDance.

The lawmakers voted — 352 in favour of the proposed law and 65 against it — in a rare moment of bipartisan unity.

In 2022, the US house of representatives ordered its staff to delete TikTok from any house-issued mobile devices.

TikTok recently said it would challenge in court the “unconstitutional” law.

Business

Dangote refinery ranked above 10 biggest European refineries

Published

11 hours ago

April 26, 2024 9:40 am

BodexNG

A financial data and media company, Bloomberg, has ranked the Dangote Refinery above the top 10 biggest refineries in Europe.

According to data compiled by the business news platform, the refinery has more capacity than many European ones.

The $20bn-worth refinery located in Lekki-Epe Expressway, Lagos State, can refine 650,000 barrels of petroleum products per day.

The report sighted by newsmen on Thursday stated that this is over 246,00bpd capacity, more than Shell’s Pernis Refinery, which is located in the Netherlands.

It added that the Pernis Refinery, which has an installed capacity of 404,000bpd, is the biggest in Europe. The BP Rotterdam Refinery in the Netherlands has a capacity of 380,000.

Bloomberg also reported that the GOI Energy ISAB Refinery in Italy was built with a refining capacity of 360,000bpd.

Also, the TotalEnergies Antwerp refining facility in Belgium can refine 338,000bpd.

Others listed in the report were the Orlen Plock Refinery in Poland with 327,000bpd; Shell’s Rheinland in Germany with 327,000bpd; Miro Refinery in Germany with 310,000 capacity; and the ExxonMobil Anterwep Refinery in Belgium with 307,000 capacity.

It added that the Saras Sarroch Refinery in Italy had 300,000 capacity; the ExxonMobil Fawley in England had 270,000bpd capacity.

The Bloomberg report described the Dangote Refinery as a ‘game changer’ and said it was taking advantage of cheaper US oil imports for as much as a third of its feedstock as it started up.

According to analysts, the refinery has been shipping products in recent weeks while readying two units to enable petrol output, which will deliver a long-promised transformation of the fuel market in Nigeria and the region.

“Dangote is going to influence Atlantic Basin gasoline markets this summer and for the rest of the year,” an oil expert, Alan Gelder, told Bloomberg.

According to the average estimate of analysts at WoodMac, FGE, and Citac, the refinery is running at about 300,000 barrels a day, nearly half its nameplate capacity.

The complex has started shipping jet fuel, diesel, and naphtha as it widens to a full slate of products.

Reuters recently reported that the Dangote oil refinery could end a decades-long petrol trade from Europe to Africa, worth $17 billion a year.

Reuters, quoting analysts and traders, said the Dangote refinery was heaping pressure on European refineries already at risk of closure from heightened competition, adding that the refinery would be the largest in Africa and Europe when it reaches full capacity.

About a third of Europe’s 1.33mbpd average petrol exports in 2023 went to West Africa, a bigger chunk than any other region, with most of those exports ending up in Nigeria, Reuters said, quoting Kpler data.

Dangote Refinery has begun selling diesel into the Nigerian market, crashing the pump price from N1,600 to N940 in less than a month.

Business

FG grants Air Peace approval to commence Abuja-London flights

Published

12 hours ago

April 26, 2024 8:32 am

BodexNG

The federal government (FG) says it has approved the commencement of flight services from Abuja to London by Air Peace.

Festus Keyamo, minister of aviation and aerospace development, spoke on Channels television on Thursday.

Keyamo said he gave the approval for Air Peace to add Abuja to its London route on April 24.

“Just yesterday (Wednesday), I approved Air Peace for the Abuja-London route, not only Lagos-London route,” the minister said.

“British Airways also come to Abuja.

“So, let Air Peace block that path and start a war. It’s all for the good of Nigerians.”

Speaking on the British government’s refusal to grant operation access to Heathrow Airport, Keyamo said the federal government agreed to operate the Gatwick Airport.

He said Air Peace or any interested local airline should be operating to Heathrow Airport and not Gatwick.

The minister said the Gatwick Airport is only a low-hanging fruit and a starting point.

Keyamo said he has been reviewing the bilateral air service agreement (BASA) between the United Kingdom (UK) and Nigeria and some decisions would be made after the exercise.

On March 30, 2024, Air Peace began direct flight operations from Lagos to Gatwick Airport in London.

Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others