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In a high-profile meeting at the Presidential Villa in Abuja, President Bola Tinubu reaffirmed his administration’s unwavering commitment to Nigeria’s fintech sector. This is as fintech powerhouse Flutterwave gears up for a landmark listing on the Nigerian Exchange (NGX).
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The meeting, held on Saturday, brought together top executives from Flutterwave—including CEO Olugbenga Agboola, co-founder Adeleke Adekoya, Oluwabankole Falade, and Mitesh Popat—along with representatives from Alami Capital, led by CEO Oluseun Olufemi-White. High-ranking government officials, including Finance Minister Wale Edun, Dr. Armstrong Takang, Managing Director/CEO of the Ministry of Finance Incorporated, and Kashifu Inuwa Abdullahi, Director General/CEO of the National Information Technology Development Agency (NITDA), were also in attendance.
Fintech innovation is driving economic growth —Tinubu
President Tinubu emphasized the critical role of fintech innovation in driving economic growth during his address. “Yesterday, I met with the leadership of Flutterwave and Alami Capital to discuss how we can boost our digital economy. Together, we’re committed to removing obstacles that impede business growth and innovation. With the strong leadership of Minister Wale Edun, Dr. Armstrong Takang, and Mr. Kashifu Inuwa Abdullahi, we are taking bold steps to position Nigeria as a global fintech leader. Nigeria is open for business,” he tweeted shortly after the meeting.
Expanding on his remarks, the president added, “By supporting home-grown digital platforms like Flutterwave, we are driving job creation, diversifying our economy, and solidifying our position as Africa’s largest economy.
“To all fintech innovators: Nigeria is ready to back your vision. Our goal is to see Nigerian products and services in every home across Africa.”
Flutterwave: A major player in Africa’s digital payments landscape
Founded by visionary young Nigerians and headquartered in Lagos, Flutterwave has rapidly emerged as a major player in Africa’s digital payments landscape. Operating in over 30 countries—including the United States, Canada, Nigeria, Kenya, Uganda, Ghana, and South Africa—the company boasts a brand valuation exceeding $3 billion and employs over 1,000 Nigerians. The upcoming NGX listing is a strategic move to expand Flutterwave’s global footprint and reinforce investor confidence in Nigeria’s fintech innovation.
During the meeting, President Tinubu reiterated his administration’s determination to create a business-friendly environment that fosters innovation and sustainable growth. “Nigeria is genuinely open to business, and as President, I am determined to remove all obstacles that hinder our companies from thriving,” he declared. He commended Flutterwave for its pivotal role in driving the digital economy and highlighted the significant contributions of young Nigerian entrepreneurs in propelling the firm’s success.
Strengthening regulations to support Nigeria’s fintech ecosystem
The discussions also centered on strengthening regulatory frameworks and improving investment conditions to further support Nigeria’s burgeoning fintech ecosystem. Industry leaders believe that Flutterwave’s NGX listing will signal a new era of fintech growth, attract substantial investments, stimulate job creation, and enhance Nigeria’s reputation as a digital hub in Africa.
With a strong focus on digital innovation and economic diversification, President Tinubu’s support for fintech initiatives like Flutterwave’s NGX listing is set to transform Nigeria’s financial technology landscape. As the government prioritizes technology-driven economic development, this strategic collaboration is expected to unlock significant opportunities for local and international investors, ultimately paving the way for a more inclusive and robust digital economy in Nigeria.
