Tayo Oviosu, the Chief Executive Officer and Founder of Paga, has expressed confidence in the resilience of his company amid increasing competition in Nigeria's financial technology landscape. Speaking at the Moonshot 2026 conference held at the National Theatre in Lagos, Oviosu emphasized that competition is not a threat but rather a sign of a flourishing market.

During his address, Oviosu noted that the rise in fintech companies is indicative of the vast opportunities available in Nigeria's financial sector. He stated, "Competition is great. It keeps us on our toes. But it’s also showing that the market is expanding. And the Nigeria market is a very big market." This perspective highlights a shift in how fintech firms can view one another, suggesting that they can coexist by addressing diverse needs within the industry rather than solely competing against each other.

Paga, a pioneer in the Nigerian fintech space, currently supports over 400 fintech and technology companies by providing essential infrastructure that enables these businesses to launch their services efficiently. The platform is processing an impressive $1.5 billion in transactions each month, showcasing its significant role in the ecosystem. Oviosu remarked, "Over 400 fintechs or tech companies are using our infrastructure today. And processing over 1.5 billion dollars of transactions every month."

Despite the positive outlook, Oviosu acknowledged that access to capital remains a critical challenge for businesses aiming to scale. He pointed to the deepening of Nigeria’s capital markets as a hopeful development, stating, "The biggest challenge is raising capital to be able to help you scale. And the capital markets in Nigeria are deepening. So that’s good. But that’s the biggest challenge."

The conference also featured insights from other industry leaders, including Odunayo Eweniyi, co-founder and Chief Operating Officer of PiggyVest. Eweniyi discussed the opportunities and challenges for Nigerian businesses looking to expand into international markets, particularly in the UK. She highlighted the growing Nigerian community in the UK as a valuable resource for networking and support, helping founders navigate new environments while emphasizing that business decisions should remain paramount.

Moonshot 2026 aims to foster discussions around innovation and technology's role in addressing challenges in Africa. The conference is structured to create a platform for various stakeholders, including startups, entrepreneurs, and industry experts, to share insights and collaborate on solutions that can drive progress in the continent's technology sector.

As the fintech landscape continues to evolve, events like Moonshot play a crucial role in shaping the future of technology and business in Nigeria, encouraging collaboration and innovation among emerging players in the market.