I am honoured to lead a country with such a youthful and resourceful population. The leadership Flutterwave provides in the digital economy is exactly what Nigeria needs to expand its economic opportunities and improve the lives of its citizens, — President Tinubu
By Abdulrahman Aliagan, Abuja
President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to fostering the growth of financial technology (fintech) companies in Nigeria, pledging support for businesses that provide payment infrastructure services for Nigerians and Africans.
The President made this promise in a statement release by his spokesperson, Mr Bayo Onanuga on Saturday in Abuja when he received the leadership of Flutterwave and Alami Capital.
Flutterwave, a Nigerian-founded fintech company with a strong presence in the U.S., Canada, Nigeria, Kenya, Uganda, Ghana, South Africa, and 29 other African nations, is seeking to be listed on the Nigerian Exchange.
The delegation, led by Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, included Flutterwave CEO Olugbenga Agboola, co-founder Adeleke Adekoya, Oluwabankole Falade, and Mitesh Popat. Ms. Oluseun Olufemi-White, CEO of Alami Capital, also attended.
In his remarks, President Tinubu emphasized that Nigeria is open for business and that his government is determined to eliminate barriers to economic growth.
“I am honoured to lead a country with such a youthful and resourceful population. The leadership Flutterwave provides in the digital economy is exactly what Nigeria needs to expand its economic opportunities and improve the lives of its citizens,” the President stated.
Minister Wale Edun praised Flutterwave’s contributions over the past decade, highlighting its role in job creation and economic diversification through innovative digital payment solutions.
Flutterwave CEO, Agboola, underscored the company’s impact, stating that it has enabled Nigerians to pay for international services in Naira and facilitated seamless transactions for Nigerians in the diaspora. He disclosed that Flutterwave, valued at over $3 billion, employs more than 1,000 Nigerians and sought the President’s backing for its Nigerian Exchange listing.
Dr. Armstrong Ume Takang, Managing Director and CEO of the Ministry of Finance Incorporated (MOFI), stressed that as Africa’s largest economy, Nigeria must strategically position its homegrown companies like Flutterwave to dominate the continent’s digital space.
He pointed out that Flutterwave spends millions of dollars monthly on hosting services, with most of the funds going to foreign providers. He suggested supporting Nigeria’s Galaxy Backbone to develop the capacity to handle such large-scale operations domestically.
The meeting signals a renewed push by the Tinubu administration to strengthen Nigeria’s fintech ecosystem, ensuring that indigenous companies like Flutterwave continue to thrive on both local and international fronts.