So this thing now is what the average Nigerian is facing.

@drgideonvalor

3.3K followers · usually 299 views a post

Views

18.4K

Likes

329

Comments

31

Shares

9

SoundTikTok sound · original sound - drgideonvalor

Why it worked

The video addresses a highly relatable and emotionally charged financial struggle for the target audience, using a shocking visual example to validate the creator's commentary.

Summary

The creator discusses the predatory nature of high-interest loan apps in Nigeria, using a screenshot of an app called EaseMoni as an example of extreme debt accumulation. He argues that it is unrealistic to blame borrowers for defaulting when the interest rates are so high.

Structure

1Introduction of the issue with loan apps
2Example of a loan growing from 1.2M to 9M
3Critique of the predatory interest rates
4Story of a working mother struggling with repayment
5Closing statement on the situation

Product placement

EaseMoni is shown as a screenshot to illustrate the predatory loan practices being discussed.

On-screen text

EaseMoni You have been overdue for N9,608,017 due on 19 Nov 2024 Repay to clear debt Seriously overdue would affect your credit score. Fraud Alert Q & A Get to know EaseMoni in one minute

Original caption

While we do not justify loan defaulting, the insane interest rates from loan sharks are the height of wickedness in an already economically struggling nation. #loan #fyp #lagostiktok #nigeriatiktok #blowthisup

More from @drgideonvalor

More breakout videos from this creator.

Transcript

So this thing now is what the average Nigerian is facing. Somebody borrows a loan of 1.2 million in November 2024 and less than 18 months, person don dey see over 9 million, getting to 10 million. That is almost 10x of what you borrowed. Look, it's unrealistic to pour the anger of people who default on loans on innocent people. I've heard of a working mother who just tried to borrow from a loan app at the middle of the month, that mid-month sapa, to get rid of a few things, only for how to come back when salary has come to find 2x what she borrowed. How do you expect them to pay back? All will be fine sha.