President Bola Tinubu has reaffirmed his administration’s commitment to supporting financial technology (fintech) firms that provide digital payment infrastructure for Nigerians and Africans.
The President made this pledge on Saturday in Abuja while receiving the leadership teams of Flutterwave and Alami Capital. The meeting was attended by key stakeholders, including Flutterwave CEO Olugbenga Agboola, Adeleke Adekoya, Oluwabankole Falade, and Mitesh Popat. Representing Alami Capital was its CEO, Oluseun Olufemi-White.
The delegation was led by Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and included Dr. Armstrong Ume Takang, Managing Director of the Ministry of Finance Incorporated (MOFI), and Dr. Inuwa Kashifu Abdullahi, Director-General of the National Information Technology Development Agency (NITDA).
Nigeria Open for Business
President Tinubu emphasized his commitment to eliminating barriers that hinder business growth in Nigeria. He praised Flutterwave’s contributions to the digital economy, highlighting its role in fostering innovation, job creation, and economic diversification.
“The leadership Flutterwave provides in the digital world is what Nigeria needs today to grow its economy and make life easier for millions,” he stated.
Flutterwave’s Impact and Future Prospects
Minister Edun acknowledged Flutterwave’s significant progress since its inception a decade ago. The company has been instrumental in revolutionizing digital payments, creating employment opportunities, and enhancing financial inclusion across Africa.
Flutterwave CEO Agboola highlighted the company’s role in facilitating cross-border payments and enabling Nigerians to access global services using the Naira. The fintech giant, currently valued at over $3 billion, employs more than 1,000 Nigerians and continues to expand its reach across the continent.
Agboola also disclosed Flutterwave’s ambition to list on the Nigerian Exchange (NGX) and solicited the President’s backing for this strategic move.
Fintech and Nigeria’s Digital Economy
As fintech companies like Flutterwave continue to redefine the financial landscape, President Tinubu’s endorsement signals a supportive regulatory environment for tech-driven economic growth. The administration’s focus on digital innovation aligns with Nigeria’s broader vision of becoming a global hub for financial technology.
The fintech sector remains a crucial driver of economic transformation, fostering financial inclusion, empowering businesses, and attracting foreign investment. With government backing, companies like Flutterwave are well-positioned to lead Nigeria’s digital economy into a new era of prosperity.
Conclusion
Flutterwave’s potential listing on the NGX marks a significant milestone for Nigeria’s fintech ecosystem. As regulatory frameworks evolve to accommodate digital innovation, fintech firms will play an increasingly vital role in shaping the country’s economic future.