President Bola Tinubu has approved a $75 million investment in Nigerian fintech company Flutterwave as it moves closer to launching an initial public offering (IPO).
The approval was disclosed on Monday by the president’s Special Assistant on Social Media, Dada Olusegun, in a post on X. According to the statement, the investment signals the federal government’s commitment to supporting innovative financial technology firms and strengthening Nigeria’s digital economy.
At the current official exchange rate of N1,343.64 to the dollar, the investment amounts to approximately N100.7 billion. This represents about 0.15 percent of Nigeria’s projected national budget for 2026.
The funding forms part of Flutterwave’s broader plan to raise $250 million through its anticipated IPO. The company previously secured $250 million during its Series D funding round in 2022, achieving a valuation exceeding $3 billion and cementing its position as one of Africa’s leading fintech firms.
Earlier in February 2025, President Tinubu reiterated his administration’s commitment to making Nigeria an attractive destination for investors. He emphasized efforts to remove barriers to growth, particularly in the fintech sector, which plays a crucial role in providing payment infrastructure across Nigeria and the wider African market.
As part of these efforts, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, held discussions with Flutterwave executives and representatives from the Ministry of Finance Incorporated (MoFI) on October 10, 2025. The meeting focused on strategies to align government support with private sector innovation.
The federal government has also commended Flutterwave for its role in advancing the digital economy, especially in creating opportunities for young Nigerians through technology-driven financial services.
Flutterwave, in response, noted that the investment would support its expansion plans, including exploring mergers and acquisitions, scaling customer acquisition in existing markets, and developing new products to drive innovation.
The company has previously expressed interest in listing on the Nigerian Exchange (NGX) and sought government backing as it prepares for its public debut.
