“PayPal we don’t need you anymore. What brings you now after years of marginalisation (limited access, high fees)?” That’s been one of the loudest reactions from Nigerians on X since news broke that PayPal is properly returning to the country, this time through a partnership with Paga. Some see it as poetic justice. Others see it as something else entirely: a strategic turning point that could cautiously redraw power lines in Nigerian fintech. So let’s ask the real question beneath the noise: in this deal, who actually stands to benefit more? PayPal or Paga? This is a product‑strategy teardown, not to force an answer down your throat. I’ll lay out the structure of the deal, what each side gains, and the risks for everyone else. You decide where you land. What actually changed with the ...