President Tinubu Backs Flutterwave’s Plans For NGX Listing 

President Bola Tinubu has pledged his administration’s support for financial technology firms that provide payment infrastructure services for Nigerians and Africans.

He made this commitment recently when he met with the leadership of Flutterwave and Alami Capital at the Presidential Villa in Abuja.

Flutterwave, a Nigerian fintech giant valued at over $3 billion, is currently working towards listing on the Nigerian Exchange Limited (NGX). The company, which employs over 1,000 Nigerians, sought the federal government’s backing to ensure a successful listing.

In response, President Tinubu assured the delegation of his support, emphasising his administration’s commitment to removing obstacles that hinder business growth.

Founded by young Nigerians and headquartered in Lagos, Flutterwave operates in over 30 African countries, including Nigeria, Kenya, Ghana, South Africa, and Uganda, as well as in the United States and Canada.

At the meeting, Flutterwave was represented by its Chief Executive Officer (CEO), Mr. Olugbenga Agboola, co-founder Mr. Adeleke Adekoya, and executives Mr. Oluwabankole Falade and Mr.  Mitesh Popat.

Alami Capital’s CEO, Mr. Oluseun Olufemi-White, was also present. Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, led the delegation, which included Mr. Armstrong Takang, Managing Director of the Ministry of Finance Incorporated (MOFI), and Mr.  Inuwa Abdullahi, Director-General of the National Information Technology Development Agency (NITDA).

President Tinubu reaffirmed Nigeria’s openness to business and commeded Flutterwave’s contributions to the digital economy. He also lauded the company’s role in showcasing the potential of young Nigerians, describing them as a driving force for economic growth.

Meanwhile Mr.  Edun highlighted Flutterwave’s achievements since its establishment a decade ago, noting that the company has created jobs and helped diversify Nigeria’s economy through innovative digital payment solutions.  s

Mr. Agboola, Flutterwave’s CEO, stated that the company has simplified digital transactions for Nigerians, including enabling payments for global services in Naira and facilitating remittances for Nigerians in the diaspora. He emphasied the significance of the company’s NGX listing and sought the president’s endorsement.

Mr. Takang, stressed the importance of positioning Nigerian companies such as Flutterwave as key players across Africa. He pointed out that Flutterwave spends millions of dollars monthly on foreign hosting services and suggested supporting Galaxy Backbone, a Nigerian government-owned ICT company, to handle such infrastructure locally.

In another development, NITDA partnered with Flutterwave and Alami to accelerate Nigeria’s digital economy by equipping small and medium-sized enterprises (SMEs) with essential digital tools.

Announced recently, the collaboration aims to bridge the digital divide by promoting digital literacy, fintech innovation, and secure financial solutions for businesses.

Mr. Inuwa emphasised that public-private partnerships are vital to achieving Nigeria’s digital transformation goals.

“Flutterwave’s innovative fintech solutions align with our vision for a thriving digital economy. The slow adoption of digital tools among SMEs has been a major impediment to economic growth. Through this collaboration, we aim to provide businesses with the resources and infrastructure necessary to transition seamlessly into the digital age,” Mr.  Inuwa stated.

This initiative supports Nigeria’s National Digital Economy Policy and Strategy, reinforcing President Tinubu’s Renewed Hope Agenda to expand opportunities for businesses in the technology sector.

According to Mr. Agboola, the partnership will help small businesses overcome digital adoption challenges.

“Many SMEs in Nigeria struggle to fully embrace digital solutions. In providing seamless and secure payment technologies, we can help them scale with confidence. Our collaboration with NITDA reaffirms our dedication to fostering a truly inclusive digital economy,” he said.