OPay Claims 57.4% Share of Nigeria’s Digital Loan Disbursements in 2025

Fintech firm says Okash led digital lending apps as it prepares for proposed US IPO

By Henryrich Ojo | Newsworld

OPay has estimated that it accounted for 57.4 per cent of the total value of digital loans disbursed in Nigeria in 2025, highlighting its reported position in the country’s fast-growing digital lending market. The figure was disclosed in a registration statement filed with the United States Securities and Exchange Commission (SEC) ahead of the fintech company’s proposed initial public offering (IPO). According to the filing, the estimate was calculated using OPay’s internal loan disbursement records and an assessment of the overall Nigerian digital lending market provided by research firm Frost & Sullivan.

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The company said its extensive digital payments network, large customer base and transaction data had helped strengthen its lending business by supporting the delivery of additional financial services.

The filing also stated that OPay’s Okash platform ranked first among digital lending applications in Nigeria in the first half of 2026. Citing data from mobile application monitoring platform DataSparkle, the company said Okash’s active users were approximately 1.6 to 6.6 times those of the other four leading digital lending applications.

OPay further reported that it accounted for about 66.1 per cent of monthly active users across the financial applications monitored in Nigeria during the period. The company also described itself as Nigeria’s largest processor of digital payments and transfers by gross transaction value, citing Frost & Sullivan. OPay attributed its competitive position to its technology infrastructure, product innovation and integration of payments, savings and credit services, arguing that transaction data helps it assess credit risk and improve customer retention. However, the market share and rankings cited in the filing are based on company disclosures and third-party estimates, rather than independently verified figures presented in the report.

Despite its reported market position, OPay expects competition in Nigeria’s digital financial services sector to intensify as banks, fintech companies and digital lending platforms expand their services. The company also identified regulatory scrutiny of lending practices, including interest charges, data collection and debt recovery, as issues affecting the sector.

Separately, OPay disclosed that its short-term investment portfolio stood at $532.94 million as of June 30, 2026, up from $410.45 million at the end of 2025 and $131.35 million at the end of 2024. The portfolio represented approximately 27.9 per cent of the company’s reported total assets of $1.91 billion at the end of June 2026. The disclosures offer a snapshot of OPay’s reported lending reach and financial position as it prepares for a proposed US listing, although the IPO plans and market estimates remain subject to the details and qualifications contained in its regulatory filing.