Oxygen X takes loans to Lagos traders

Oxygen X Finance Company has taken its credit access campaign to traders and small business owners in Lagos, seeking to make loans more accessible to people who need funds to run and expand their businesses.

The company, in its “Right Where You Are” campaign, engaged traders and other business owners at the CMS and Obalende markets, discussing their financial needs, including restocking, cash-flow management and business expansion.

Brand Manager, Oxygen X, Emmanuella Awogu, said the campaign was aimed at helping to close the gap in access to formal credit.

Awogu said many small business owners, including neighbourhood shop owners, food sellers and market traders, often lacked the paperwork or banking history required to obtain loans from conventional lenders despite running viable businesses.

“We need to close the gap in access to formal credit,” she said, adding that Oxygen X was using digital channels and its agent network to bring financing closer to customers.

According to her, the approach would enable customers to apply for loans without leaving their businesses or enduring lengthy processes.

Backed by Access Holdings, Oxygen X provides personal, Small and Medium-sized Enterprise (SME), business and working capital loans to individuals and businesses.

Customers can apply through the Oxygen X mobile application or website, while its agent network provides access to its services in more communities and markets.

The company is also expanding its Buy Now, Pay Later (BNPL) service through OxygenNow, allowing customers to buy products and pay for them over an agreed period.

Its BNPL partners include Thermocool, Orca Mall, Konga, Redington and Izifin Technologies.

Oxygen X said the CMS and Obalende activation was part of its broader campaign to take credit services beyond digital platforms and directly into communities where Nigerians live, work and trade.

The company said the initiative was designed to support traders needing funds to restock, small businesses requiring working capital and individuals seeking personal loans.