OPay sets aside $1.28 in provisions for every $10 lent in Nigeria

OPay originated $927.6 million in loans in Nigeria in H1 2026 and earned $236.12 million in loan-financing revenue, but booked $118.36 million in expected credit-loss provisions — $1.28 for every $10 lent. Provisions rose 210.3% year-on-year and consumed 50.2% of lending revenue, up from 41% a year earlier.

• Loan originations tripled to $927.6 million from $305.1 million a year earlier
• Loan-financing revenue rose 167.9% to $236.12 million
• Expected credit-loss provisions jumped 210.3% to $118.36 million
• NPL ratio was 4.3% as of June 30, 2026, versus 8.03% for the banking industry