President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to supporting financial technology companies, as he welcomed plans by Flutterwave to list on the Nigerian Exchange. Meeting with Flutterwave’s leadership and Alami Capital in Abuja, President Tinubu emphasized Nigeria’s openness to business and his determination to eliminate barriers that hinder corporate growth.
The President praised Flutterwave’s role in expanding digital payment infrastructure across Africa, noting that the company, founded by young Nigerians, is a testament to the nation’s innovative capacity. With operations in over 30 African countries and a valuation exceeding $3 billion, Flutterwave has become a global brand and a vital player in Nigeria’s digital economy.
Minister of Finance, Wale Edun, highlighted Flutterwave’s decade-long journey, its job creation impact, and its role in diversifying the economy through seamless payment solutions. CEO Olugbenga Agboola further stressed the company’s contributions, including facilitating Naira payments for global services and enabling seamless diaspora remittances.
In a strategic push for local technological self-reliance, MOFI’s Managing Director, Dr. Armstrong Ume Takang, advocated for utilizing Nigeria’s Galaxy Backbone hosting services rather than spending millions on offshore infrastructure. The call aligns with the broader goal of strengthening Nigeria’s digital economy and positioning local enterprises for continental leadership.
Flutterwave’s proposed listing on the Nigerian Exchange signals confidence in Nigeria’s financial markets, aligning with the government’s economic vision. With President Tinubu’s backing, the move could bolster investor confidence and accelerate fintech growth in Nigeria and beyond.
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