Digital Payments in Nigeria: Empowering Financial Inclusion in the Modern Era

In the modern era, financial inclusion is no longer a luxury but a necessity. Access to financial services, especially in emerging economies like Nigeria, plays a pivotal role in improving the livelihoods of the underprivileged and driving economic growth. As a result, digital payments have emerged as a potent tool in achieving these goals. 

Digital Payments methods

Understanding Financial Inclusion

To begin with, financial inclusion is the process of ensuring that individuals and businesses have access to affordable, convenient, and secure financial services. These services can range from simple savings and payment accounts to more complex financial products like loans and insurance. In the context of Nigeria, achieving financial inclusion is crucial due to the significant portion of the population that remains unbanked or underbanked.

To demonstrate this, the World Bank’s Global Findex Database reported that, as of 2017, only 40% of adults in Nigeria had access to formal financial services. The government and various stakeholders recognized this as an issue that needed to be addressed. Digital payments are seen as a means to bridge this gap.

The Rise of Digital Payments in Nigeria

  • MOBILE PHONE PENETRATION

First and foremost, Nigeria has one of the highest mobile phone penetration rates in Africa. According to the Nigerian Communications Commission (NCC), there were over 196 million mobile subscribers in Nigeria as of 2020. This widespread use of mobile phones serves as the foundation for digital payment systems.

  • GOVERNMENT INITIATIVES

Moreover, the Central Bank of Nigeria (CBN) has actively promoted financial inclusion through various policies and initiatives. The “Cashless Nigeria” policy and the “National Financial Inclusion Strategy” have played crucial roles in encouraging the adoption of digital payments.

  • FINTECH INNOVATION

Furthermore, the rise of fintech companies in Nigeria has introduced a wave of innovative financial products and services. These companies have leveraged technology to provide digital payment solutions that cater to the needs of a wide range of customers, including those in underserved and rural areas.

Key Digital Payment Methods in Nigeria

Digital payments have had a transformative impact on financial inclusion in Nigeria. Here are some of the ways in which they have empowered individuals and businesses:

  • ACCESSIBILITY:

In particular, digital payment methods are accessible to individuals regardless of their location. Rural and underserved areas have seen a significant improvement in access to financial services through mobile apps and USSD banking.

  • AFFORDABILITY:

Also, digital payments are often more cost-effective than traditional banking. There are fewer fees associated with maintaining digital wallets or conducting transactions through mobile phones.

  • SECURITY:

Digital payments provide a secure way to store and transfer money, reducing the risks associated with carrying cash.

  • INCLUSION OF INFORMAL SECTOR

Many individuals engaged in the informal sector, such as small traders and artisans, now have access to financial services, enabling them to save and grow their businesses.

  • FINANCIAL LITERACY

The use of digital payments has contributed to an increase in financial literacy among Nigerians. Users become more familiar with banking concepts and practices through regular use.

Challenges and Opportunities

While digital payments have made significant strides in Nigeria, several challenges and opportunities remain:

  • INFRASTRUCTURE AND CONNECTIVITY

Limited access to the internet and mobile network coverage in some rural areas can hinder the growth of digital payments. Investments in infrastructure are needed to address this issue.

  • CYBER-SECURITY

With the growth of digital payments, the risk of cybercrimes and fraud has also increased. There is a need for robust cybersecurity measures and awareness campaigns to protect users.

  • FINANCIAL LITERACY

Despite the increase in financial literacy due to digital payments, there is still a need for educational campaigns to enhance users’ understanding of digital financial services.

  • PARTNERSHIP

Collaboration between financial institutions, fintech companies like Vtpass, and telecom operators can foster the development of innovative solutions and improve financial inclusion.

  • CROSS-BORDER TRANSACTION

Enhancing the capabilities for cross-border digital transactions can facilitate international trade and the influx of remittances.

CONCLUSION

Digital payments in Nigeria have emerged as a powerful tool in advancing financial inclusion. The widespread adoption of mobile phones, coupled with government initiatives and fintech innovation, has enabled millions to access affordable and secure financial services. While challenges remain, the future looks promising as the digital payments landscape continues to evolve, making strides in improving the financial well-being of Nigerians and propelling the nation towards greater economic growth. Financial inclusion is not just a buzzword but a tangible goal within reach, thanks to the modern era of digital payments.

To conclude, as Nigeria continues to develop its digital payments ecosystem, it is imperative that all stakeholders – government, financial institutions, fintech companies, and consumers – work together to overcome challenges and seize opportunities to ensure that financial inclusion becomes a reality for all. The journey has begun, and the destination is a more prosperous and financially inclusive Nigeria.

HAPPY CUSTOMER SERVICE WEEK FROM VTPASS

Guess what time it is? It’s that wonderful week of the year when we put on our celebration hats, crank up the confetti cannons, and dance to the rhythm of gratitude. That’s right – it’s Customer Service Week, and we’re here to party with you! 🎈

At Vtpass, we believe that every week should be Customer Service Week. But hey, dedicating a whole week to celebrate our rockstar support team and, of course, our incredible customers? That’s just icing on the cake.

At VTpass, we strongly believe that customer service is not merely a department within our organisation; it’s a deeply ingrained culture that permeates every facet of our operations. Each interaction, every innovation, and every upgrade is meticulously designed not just to meet, but also to consistently exceed the expectations of our cherished customers.

While we acknowledge that we’re not flawless, we are committed to the path of continuous improvement. As we navigate this journey from where we are to where we aspire to be, we extend our heartfelt gratitude to you, our invaluable customers, for standing by us every step of the way. While Customer Service Week is a designated time for celebration, please know that we celebrate you every day for being the driving force that keeps our lights on.

CUSTOMER APPRECIATION

In this extended exploration of our commitment to customer service, we intend to delve deeper into the essence of VTpass’s customer-centric philosophy. With over a decade of serving you, we reaffirm our dedication to delivering the highest level of service excellence. This includes our unwavering pledge to continually refine and optimise your VTpass experience, as well as our tireless efforts to brainstorm and innovate, all in the pursuit of answering the question, “What more can we give you?”

Our Journey Together: Reflecting on Progress

As we traverse the path of steady growth and evolution, one thing remains immutable. That our customers are, have always been, and will forever be our numero uno priority. Our customer-first ethos serves as our North Star, guiding us through every decision, every strategy, and every interaction.

It’s only fitting that we take a moment to reflect on our journey together. VTpass has evolved from its inception, and this evolution is a direct result of our commitment to listening, learning, and adapting based on your valuable feedback.

From the very beginning, we have strived to offer a seamless platform for your various needs, whether it’s bill payments, mobile top-ups, insurance, or other essential services. We’ve worked diligently to ensure that our platform remains user-friendly, secure, and efficient.

The VTpass Experience: An Ongoing Upgrade

One of our core principles is never settling for the status quo. We acknowledge that technology and customer expectations are in constant flux. Therefore, we have made it our mission to evolve with these changes, ensuring that VTpass consistently offers a best-in-class experience.

Our development and tech teams work tirelessly behind the scenes to bring you regular updates, enhancements, and optimizations. We’ve embraced the feedback loop with open arms, using your insights to inform our platform’s evolution.

What’s in the Pipeline: “What More Can We Give to You?”

The question of “What more can we give to you?” is more than just a rhetorical one. It’s a mantra that drives our innovation.

We’re expanding our services to cater to a wider spectrum of your needs. From new billers and insurers to enhanced security measures and a sleeker user interface, we’re pulling out all the stops to ensure that VTpass remains your preferred one-stop solution.

You: Our North Star

In closing, we want to express our deepest appreciation to each and every one of you. Your unwavering trust, your invaluable feedback, and your continued patronage fuel our drive to excel. Customer Service Week may have an official start and end date, but rest assured, our celebration of you knows no bounds and has no time constraints.

Thank you for being the heartbeat of VTpass. Here’s to many more years of partnership, innovation, and celebration. Together, we’ll continue to illuminate the path forward. Whenever you experience any issues, rest assured that we will help resolve them. You can always send an email to support@vtpass.com, call our active support line on 09087482377, use the live chat feature on the website, or contact us via our social media channels (FacebookInstagram, and Twitter.) 

Mastering Your Utility Bills Payment with VTPass

Hey there, savvy bill-payers! Are you tired of managing utility bills? Say hello to convenience and control with VTPass! In this post, we’ll help you master your utility bills payment with VTpass like a pro. Let’s dive in! Don’t just manage your utility bills, make them work for you! With VTPass, you’ll be able to take control of your payments and finally have peace of mind. Let’s get started and learn how to master your utility bill payments!

Understanding the Basics: 💡📋

First things first, let’s break it down. Utility bills can be complex, but VTPass simplifies it all. Whether it’s electricity, water, internet, or any other essential service – you name it, we’ve got you covered. VTPass allows you to view and manage all of your utility bills in one place, making it easier to understand and keep track of your spending.

Easy Sign-Up & Navigation: 📱👆

Getting started with VTPass is easy. With our user-friendly platform, you can complete the sign-up process in just a few clicks. It’s intuitive and hassle-free, ensuring a seamless experience for everyone. You can complete the sign-up and sign-in process in just a few clicks. Once you sign up, you’ll gain access to all our products and services.

Real-time Payments: ⚡️🔄

Remember the frustration of waiting for hours or even days for your payments to reflect? That’s a thing of the past with VTPass. Experience the magical realm of real-time payments and relish the peace of mind that accompanies prompt settlement of your bills.

Safe & Secure Transactions: 🔒🛡️

Security is paramount, especially when it comes to your hard-earned money. At VTPass, we take your security seriously. We design our platform with advanced security measures to ensure the safety of your data and secure transactions. Your peace of mind is our top priority, always.

utility bills payment with VTpass is easy and intuitive

24/7 Customer Support: 📞🤝

We understand that questions can arise at any time. That’s why our friendly customer support team is here for you, 24/7. Whether you have a query or need assistance with any aspect of your bill payments, we’re just a phone call away. With VTPass, you’re never alone on your smart paying journey.

And there you have it, folks! Mastering your utility bills payment with VTpass has never been this easy. Say goodbye to stress and hello to convenience with VTPass. Ready to take control of your bill payments and simplify your life? Start your smart paying journey today and experience the difference for yourself! 🏠💡💳

SHOULD I LEAVE MY MONEY IN A BANK?

Most people have learned the benefits of setting money aside for unexpected expenses. Want to hear something absurd, though? The majority of deposits today result in losses.

But, surprisingly, even with these losses, people still insist on saving money for future use.

How is that possible? The reality is that your money will actually be WORTH LESS in the future than it is now. This is if interest rates, which the bank pays you in exchange for deposits, are lower than inflation. Saving money is still how we accumulate funds for significant life events like weddings, a first home, or a family emergency. This doesn’t mean saving is bad. And it is obvious without saying that depositing money in a bank is much safer than hiding it under a mattress.

It is also noteworthy that current accounts in Nigeria accrue no interest irrespective of the tenor the money is kept.  

Your money in a bank account can only yield 3% per annum. Instead of keeping your funds in a savings account with a commercial bank, here are 3 ways to use your money well.

OPEN A FIXED DEPOSITT:

The majority of people don’t know about fixed deposit accounts. Investment deposit accounts are different from savings and current accounts because they are investment accounts. By investing your money at an agreed rate within a specified period of time, you’re reinvesting your money at a fixed rate. Depending on the institution, accrued interest rates may differ.

Fixed deposit accounts are attractive because they provide a guaranteed return on your investment, as long as you leave your money in the account for the entire duration of the fixed period. This means that you can be sure that your money will be safe and that you will make a profit at the end of the period.

In certain conditions, you can terminate your tour account before the due date, known as tenor. 

CONSIDER INVESTING IN BUSINESS OR START –UPS

You can utilize your capital in running a side business, or work streams that bring passive income. You can take part in a start-up if you have enough capital. With this you have the opportunity to invest in high growth companies for the future. 

This can be a great way to increase your income without having to put in the same amount of time as a full-time job. And, if you are investing in start-ups, you can potentially get a great return on your investment and benefit from the growth of the company.

INVEST IN STOCKS AND BONDS

Diversify your portfolio in your investment journey. Having all your money in one investment increases risk. If that single investment fails, all your money could be lost. Investment is a long term strategy for building wealth The most successful investor invests early, then allows the money to grow for many years before using it. Invest in diverse forms, and you will know what to do next. 

Diversification helps to spread out the risk of your investments. By investing in a variety of different assets, you can mitigate the risk of any single investment failing drastically. This allows you to create a more stable portfolio that can handle market fluctuations over time, while still allowing you to benefit from the growth of your investments.

No matter what you are saving or investing in, have a specific set of goals. Know what you are working towards, as this will focus your spending and motivate you.

If you are looking for a strong motivation to propel you into doing more, then it would be good news to know that vtpass.com can provide the incentive for you to work faster and more convenient. At vtpass.com, we make for quick and convenient means of paying all pending bills. Just by logging in to ppp.vtpass.com, you can pay for your phone airtime- Etisalat, AirtelMTNGLO; your TV subscriptionelectricity billsdata subscription and so on.

HOW TO MANAGE YOUR MOBILE DATA BETTER

Data is life, or so you have heard from the famous Airtel television adverts. I often wonder how people cope without internet access due to the lack of data plan or not being able to manage your mobile data. The internet has become an integral part of our lives. As it provides us with access to information that was previously inaccessible. It’s also a powerful tool for connecting with people, for entertainment and for sharing ideas. Without internet access, many feel like they are missing out on so much.

And they are, they are missing out on so much. The Super Bowl was yesterday. Champions League continues this week, China accused the U.S. of flying a balloon over its (China) airspace. A lot of events have happened and are happening around the world that one should be aware of.

This blogpost intend to emphasise the importance of having mobile data on your smartphone at all times. These days, mobile data is money. If you don’t optimise your phone to handle it intelligently, you’re throwing dollars down the drain.

So, here are some insightful ways that can help you manage your mobile data:

Understand your data usage: To solve a problem, you need to understand the origin of that problem. What happens here is totally dependent on the model and type of phone you currently use. Basically, whatever model of Android phone you use, you can check your data usage from the settings. When you click on settings, find mobile data usage or app data usage. When you click on the icon, you will get a detailed overview of what actions, applications have been consuming your mobile data.

In addition, you will see the rate of increase over the past 30 days. In most cases, apps that consume a large amount of data are apps that involve streaming audio and videos. Social media applications fall into this category. Make a mental note of these apps. You will know what to do with them soon. Look closely at the graph. It gives you a breakdown of the data usage of all applications installed on your smartphone. This includes those that run in the background without you needing to open the app.

Reviewing mobile data usage to manage your data usaga

Remove all auto-play and ‘auto-download’:

This is a notorious culprit in the data hoovering business. To curb this, open all your social media platforms, locate their settings, and turn off the ‘auto-play’ and ‘auto-download’ menus. Videos are among the most voracious consumers of data, and social media sites play them without your permission. But guess what? It doesn’t take much effort to change that.In the Facebook Android app, if you open the main menu, tap “Settings & Privacy,” then tap “Settings” followed by “Media,” you’ll find a series of controls that’ll reduce the size of images and videos and keep videos from playing on their own. On Twitter, you’ll find similar options in the “Data Usage” section of the app’s settings.Most social apps have similar settings, even if they require a bit of digging.

Compress your mobile web experience:

Next up is an easy fix: making your browser less of a data hog. It can save a significant amount of data — as much as 60%, according to Google’s estimates — and actually make your browsing noticeably faster as a result. (Note, however, that it doesn’t work with Chrome’s Incognito Mode). To try it out, go into Chrome’s settings and look for the line labeled “Lite Mode.” Tap it, then make sure the toggle there is activated.If you want even more data-saving tools, try Opera Mini. The browser offers its own form of remote page compression and provides a variety of settings to control how much optimisation occurs.

Optimise your music apps: You use Spotify or Youtube music? Turn down the audio quality to low. This will assist you manage your mobile data better. Make sure your music app consumes as little data as possible. Try setting it to “Low” and then see if the more data-friendly audio quality is good enough for your ears.While you’re in the settings, take a moment to confirm that the “Limit mobile data usage” and “Don’t play music videos” options are activated. Be sure to look through the settings of any such apps on your phone to make certain they’re configured in the most data-efficient manner possible.

Try the light versions of apps and websites:

A growing number of services now offer scaled-down versions of apps — apps designed explicitly to use less data while still delivering reasonably enjoyable experiences. Even if you aren’t overly worried about your mobile data usage, you might find some of them to be preferable to the regular alternatives.Google has an entire suite of “Go”-branded apps for this very purpose, and as of this writing, four of them are broadly available: Google Go, Google Maps Go, Navigation for Google Maps Go, and Gallery Go.

(The others — including Gmail Go, Google Assistant Go, and YouTube Go — are currently available only for Android Go devices.) Facebook also offers light versions of its main Facebook app and Facebook Messenger app. Instagram has launched Instagram Lite. These apps are specifically designed to take up less storage space and data than their full versions. This makes them more accessible to people with limited phone storage or data plans. This will help you manage your mobile data.

Put the Play Store on notice:

App updates are a breeze! They’re also, however, often large — and if you aren’t careful, they can use a lot of your mobile data allotment. Make sure that isn’t happening by opening up the Play Store on your phone, tapping your profile in the upper-right corner, then selecting “Settings” followed by “Network preferences”. There, you can ensure that the “Auto-update apps” option is set to “Over Wi-Fi only” and also that “Auto-play videos” is set to “Over Wi-Fi only.” If you really want to go all out, you can also change “App download preference” to either “Over Wi-Fi only” or “Ask me every time” and then avoid downloading any apps on mobile data unless it’s absolutely necessary.

Download media in advance: The most effective way to cut back on mobile data streaming is to avoid it — and many multimedia apps make that easy to do. The trick is simply to download the content you want in advance, while you’re connected to Wi-Fi. So it’ll be locally stored and available whenever you’re relying on mobile data. And don’t forget that if you subscribe to YouTube Premium or YouTube Music Premium, you also have the ability to download videos from YouTube for on-the-go viewing (and that applies on your Chromebook, too, if you’re crafty).

Look in the “Background & downloads” section of the YouTube app’s settings to adjust your offline watching settings. Then tap the three-line menu icon next to any video on the YouTube home screen to find the download option (or open the video and then look for the Download button directly beneath its title). Spotify and other audio streaming services also offer similar options.

Optimise Account Sync Settings:

Your account sync settings are set to auto-sync by default. Keep auto-sync disabled for data-hungry apps like Facebook and Google+, which use sync services to sync files like photos and videos. Google constantly sync’s your data when a change is made. Most of these sync services might not be required. This background sync service affects both your data consumption and battery life.To adjust your sync setting, go to Settings>>Accounts. There you can fine-tune sync settings for different apps. To optimise Google sync, tap on Google, and turn off the options you don’t require.

If the steps are followed, it is believed that you will be able to manage your mobile data better. Meanwhile,  bills payment with ppp.vtpass.com is superfast, easy and very convenient. In addition, you get 24/7 access to our support team to help you through any glitch you might have. Why don’t you try us today?

BUDGETING FOR BEGINNERS

a picture showing budgeting as a means to success

INTRODUCTION TO BUDGETING

Budgeting is the first step to financial success. Oftentimes, we’ve heard people talk about how a certain commodity isn’t in their budget, and so they can’t afford to buy it. This drives the quest to fully grasp the concept of this economic terminology. Every individual’s goal is to be able to afford whatever he wants. In understanding people’s attitudes toward financial goals, the following assumptions about humans are true. This general attitude guides their approach to making and spending money.

ASSUMPTIONS THAT AFFECTS BUDGETING

  1. That man is a rational and social being. This indicates that humans possess the mental capacity to reason and think, which enables us to perform a variety of cognitive tasks such as concept formulation, assessment of ideas, and reasoning. 
  2. A need is a requirement for functioning and existing. Wants are anything that enhances the quality of your life.
  3. A person’s income must be greater than his expenses. If the reverse is the case, it is highly detrimental to the financial well-being of the individual.   
  4. A person must instill healthy habits to get the best out of budgeting.

PERSONAL INCOME VS EXPENSES IN BUDGETING

This concept of personal income can be defined as all the earnings an individual makes over a period of time. Personal income comes from salaries, investments, and other assets the individual has acquired over time. Income generally refers to the value or sum an individual and business earn in exchange for their labor and goods.

There are basic expenses that an individual must pay at all times, and these are called cost of living expenses. The cost of living expenses might differ from person to person depending on lifestyle, choices, and family size. The common cost of living expenses includes feeding, rent, clothing, taxes, education, transportation, etc. 

To further break these two concepts into bits, income is money coming in, and expenses are money going out. Every individual’s goal should therefore be to maximize income while minimizing expenditure. Understanding these two concepts helps individuals project their financial standing and plan toward their goals.

WHY DO I NEED TO PLAN MY   FINANCE? 

Personal finance is mostly relative to the individual’s mindset, choices, and lifestyle. Certain individuals have no financial projections, nor do they have goals.  Having a financial plan is just like intending to have a fit body, and then taking steps to cut down on unnecessary junk food and registering at the local gym. In the same way, you plan for your social lifestyle, and physical body, this same energy should be directed toward your finances. 

Financial planning is a methodical process whereby a person makes the most of their financial resources by managing their money wisely to best meet their financial goals and objectives. We all know the health implications of eating too much, so we pay attention to what we eat and how we eat it. Likewise, you should also pay attention to the implications of spending more than you earn. A financial heart attack, including debt, bankruptcy, and a lifetime of bad credit, may result from continuously spending more than you make. A personal financial plan functions as a financial diet plan.

WHAT THEN IS BUDGETING?

A budget is an economic concept; governments, companies, and individuals use budgets to estimate their income and outlays for a given period. Budgets are essentially plans for a specific period and are known to increase the success of any financial endeavor significantly. 

The objective of a personal budget is to minimize expenses and maximize savings. You can use the additional money you save by reducing your less-needed expenditure and raising your savings rate toward significant long-term financial objectives. Budgeting is essential if you want to control your spending, be ready for unforeseen circumstances, and be able to afford your needs without falling into debt. It doesn’t have to be tedious, you don’t have to be brilliant at arithmetic, and keeping track of your income and expenses doesn’t mean you can’t buy items that you want. It simply means that you will be more aware of where your money is going and that you will be more in control of your finances. 

The concept of budgeting is not to make you feel bad after spending. The goal of budgeting is to ensure you can save some money each month, ideally at least 10% of your total income, or at the very least, to ensure you are not spending more than you bring in.

. To successfully create a personal budget, you must first meticulously track your income and expenses. Making a budget is simple once you keep track of your money. Your expenditure is far more difficult to identify or track. You may start the crucial process of classifying all your income and spending once you have a complete list of all your bank deposits, outgoing checks, and transfers.

Having the right attitude toward money is the backbone of having a budget. 

CREATING A BUDGET

The following steps will take you to a healthy financial budget   

  • FIGURE OUT YOUR NET INCOME:

Your net income serves as the cornerstone of an efficient budget. Your take-home pay is the sum of your income less tax, including other benefits. Focusing on your gross pay instead of your net pay may cause you to overspend because you will believe you have more money accessible than you have. Keep thorough records of your contracts, and compensations if you are a contractor or a freelancer to manage erratic revenue. 

  • ANALYSE YOUR SPENDINGS

Finding out where your money is going comes after determining how much money you make. This will help you cut costs by keeping track of and classifying your expenses. List your fixed expenses first. These are typical monthly expenses like utility bills, rent, and so forth. Next, make a list of your variable expenses, which include things like groceries, transportation, and feeding, among others, and could differ from month to month.

  • SET SENSIBLE OBJECTIVES: 

Make a list of short-term and long-term financial goals. Short-term goals which can be completed in one to three years might include actions like creating an emergency fund or reducing debts. Long-term goals take years to accomplish. Although your goals don’t have to be unchangeable, knowing what they are can inspire you to keep to your budget. For instance, if you know you are saving for a vacation, it might be simpler to reduce spending.    

Plan

The difference between what you spend and what you wish to spend is where everything comes together. To estimate your spending over the next few months, use the list of variable and fixed expenses that you have established. Contrast it with your net income.  Consider creating direct and clear spending limits on each category.

You could decide to further segment your spending by dividing it into wants and needs. For example, petrol is considered a need if you will commute to work in your car every day. On the other hand, an online movie subscription might be considered a want. When you’re looking for strategies to reroute money toward your financial goals. This distinction becomes crucial.   

  • REVIEW YOUR BUDGET FROM TIME TO TIME:

All items in your budget may not be certain. For example, your expenses might change, you might get a salary increment, and you might reach a goal and want to set a new goal. Whatever the reason is, establish the practice of routinely reviewing your budget by using the preceding procedures. 

Conclusion

Knowing your monthly income and expenses will help you to endure that your money is being used for the best. A budget can help people who have a good salary and enough money left over after paying all expenses to maximize their savings and investments.

Any budget should concentrate on identifying and categorizing all expenses that happen during the month, quarter, and year if one’s monthly expenses normally absorb the majority of net income.

To end this, bill payment with ppp.vtpass.com is superfast, easy and very convenient. Just a few clicks and you’re done. In addition, you get 24/7 access to our support team to help you through any glitch you might have. Why don’t you try us today?

A Productive Rant About Electricity Bills

When do rants get productive? Well, this is a productive rant about electricity in Nigeria. Electricity shortages are a reality in Nigeria, and this rant has highlighted the need for sustainable and reliable power solutions.

I AM SCREAMINGGGGGGG!!!!

“How did I spend this much on electricity in January?” I have other bills to pay too. “How did this happen?”

Okay, let’s stop here for a while and smile a bit. That is the agony of every adult Nigerian at some point in their life. You can’t imagine how much you spend on bills, the most important one being electricity. 

Electricity bills are hefty. They tend to run the pocket dry when they are not regulated. Against all the other bills we pay as adults, the electricity bill is perhaps the biggest. We heard of people who spend over 35% of their monthly income on electricity bills alone. This is not surprising considering the rate of inflation in the country.

As a Nigerian, having a monthly budget is often laughable because we tend to overspend that budget at some point. If we don’t overspend on transportation, the tariff on electricity will increase at some point. The prices of commodities and utilities are never fixed. This severely cripples the effects of budgeting. Back to our rant, guys. 

Major blackout,

One major event that kept recurring in 2022 was the power grid that kept collapsing. The government blamed the repeated grid outages on poor management and insufficient gas supplies. The grid collapsed approximately seven times last year, causing total blackouts every time. The government’s explanations for the grid outages were backed up by reports from energy experts who found that the outages were caused by a combination of insufficient gas supplies and issues with the way the grid was being managed. Poor maintenance, aging infrastructure, and inadequate staffing were all identified as contributing factors.

Electricity bills increment,

The steady rise in the bill is very uncomfortable in a country where the rate of inflation rises without a commensurate rise in income.  This is the backbone of our rant today. The electricity tariff went up by 18.5% in the last quarter of 2022. The implications of this are by no means minuscule. Its impact was harder than that of the Titanic against the iceberg that sank it. Monthly financial plan in the mud. . Just sit tight, and let’s unravel what works and what does not work in this Nigerian context. Since it isn’t possible to change tariffs, we can change what we can. To continue this productive rant about electricity in Nigeria,

We all started with post-paid meters. That sorta type where ‘NEPA” (we don’t call them that anymore) officials bring a bill to show how much electricity you have spent and how much you had to pay. Those bills were outrageous. If you couldn’t afford them, your power would be disconnected. The prepaid meters came along many years after. This has its own advantages and disadvantages. Ask an average Nigerian, and they will tell you their preferred choice.

Remember when you would stand outside begging NEPA officials not to disconnect you while someone ran to the nearest NEPA office to help you pay your bill? Those are stories now. Just like with Prepaid Meters, disconnection is unnecessary, with VTpass, going out to pay bills is unnecessary. Simply log on to ppp.vtpass.com or download the mobile app to buy airtime or data, pay electricity or education bills, Pay DStv, GOtv, or Startimes subscription, or buy insurance cover.

Experience seamless payments and get immediate value when you pay your electricity bills and more with VTpass.


Common Questions About International Airtime Answered

In this resource, we have common questions about International Airtime answered. That’s right. There are so many questions. We approached them and gave adequate answers. Yes. That’s exactly what we do. So lets get started.

Firstly, What is International Airtime?

International airtime is also called foreign airtime. It is simply airtime for countries other than yours. In this case, Nigeria. For example, Ghanaian airtime qualifies as international airtime. UK, United States, China, etc.

Secondly, Who Can Use It?

Anybody and everybody. Contrary to what you may have heard, anyone can use this product. You do not have to be traveling to buy International Airtime. Neither do you need to be vacationing. You simply need to have someone overseas. That’s all. An uncle, aunt, sibling. Maybe even a friend. You can simply buy International Airtime for them.

Thirdly, Why Would I Use It?

I know right? Why would I need to buy International Airtime for anyone overseas? I thought so too. The answer would surprise you. You might want to buy for a family member who is schooling. You could buy for a friend who recently relocated and is just trying to adjust to life. Possibly, you could be in a financial fix during your vacation and use it to settle some bills. There’s more here.

Where Can I Get It?

Subsequently, the most trusted platform to get International Airtime inn Nigeria is on VTpass. VTpass is the fastest and most reliable bills payment platform in Nigeria. It offers you superfast payment and immediate value on transactions. What more? You can get International Airtime on VTpass.

What Countries Can I Buy International Airtime For?

Consequently, you can buy International Airtime for almost all countries in the world on VTpass. That’s right. As a matter of fact, there are over 100 countries available on VTpass. You can see all available countries here.

How Do I Pay?

In the same vein, this is simple. For instance, lets say you buy airtime for UK on VTpass. Firstly, you select the country. Secondly, you select the operator. Next, you select the operator type/value amount you want to buy. Our system then helps you convert that amount to its Naira equivalent. That means, you get to pay in Naira.

Similarly, the process repeats itself for any country you are buying for. Our system will automatically convert it to its Naira equivalent. This means you get to pay in Naira.

In conclusion, you should get International airtime on VTpass for easy payment and immediate delivery of value. In the same vein, you can also buy airtime and data, pay other TV subscriptions and electricity bills, buy insurance covers and pay education bills on VTpass.

That’s it about common questions about International Airtime answered. Did we leave out any? Do let us know by dropping a comment. We’ll be glad to answer that also.

New Year, New Growth

It’s our first blog post for the new year so, happy new year, new growth yeah? Yes! We made it to 2022. The new year always heralds a new beginning, the start of something fresh, and an opportunity to start with a clean slate. Well, one thing for certain, it’s a new year!

However, the results you’ll get this year will be determined by the actions you take or do not take now. Growth is expedient to progress. You probably have plans for the year 2022, but have you planned to grow also?

When you grow, you make room for more. Do you want to increase your income this year? Grow! Need to upscale that business? Grow! Want to increase your earnings as a partner? Grow! Whatever you desire to attain this year, you need to grow in order to accommodate the desired increase.

This growth starts first in your mind. You need to grow root inward first before you begin to see fruits outward. You can not achieve new goals with last year’s mindset. The circumstances are different now. It’s a different playing field. This is the time to not just make plans but also set the execution wheels in motion.

It’s a new year but it is also time for you to grow. Learn something new. Develop a new skill. Add value to yourself. Get new contacts and networks. Collaborate. Start early, start now, because it’ll be 2023 in a bit.

At VTpass, we are dedicated to offering you the best and continually improving on our services, and so we also have a lot in the works for your benefit this year. Get ready, because we’ll be taking you on quite the ride!

Trust VTpass to help you start the year well with airtime or data to congratulate your loved ones, or gift them a quality insurance cover. Electricity bills and cable TV subscriptions are also available at the click of a button. Take this piece of free advice. Don’t pile up your bills. It’s too early to be owing!