President Bola Ahmed Tinubu has reiterated his commitment to supporting businesses in Nigeria’s financial technology sector, aiming to enhance payment infrastructure services for Nigerians and Africans. He made this pledge while hosting the leadership of Flutterwave and Alami Capital in Abuja.
President Tinubu assured the delegation that Nigeria is genuinely open for business and emphasized his determination to eliminate obstacles that hinder the growth of companies. He commended Flutterwave for its contributions to the digital economy, particularly in leveraging young Nigerian talent to drive innovation.
“The leadership Flutterwave provides in the digital world is what Nigeria needs today to grow its economy and make life easier for most of its population,” the President stated.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, highlighted Flutterwave’s achievements over the past decade, praising its role in job creation and economic diversification. He noted that the company’s innovative payment solutions have expanded access to financial services across Nigeria and Africa.
Flutterwave CEO Olugbenga Agboola emphasized the company’s impact, stating that it has facilitated seamless global transactions for Nigerians, including remittances from the diaspora. He revealed that Flutterwave, valued at over $3 billion, is a homegrown fintech leader employing more than 1,000 Nigerians. Agboola also expressed the company’s desire to be listed on the Nigerian Exchange and sought the President’s support.
Dr. Armstrong Ume Takang, Managing Director of the Ministry of Finance Incorporated (MOFI), underscored Nigeria’s need to position its fintech products and services strategically across Africa. He noted that Flutterwave spends millions of dollars monthly on foreign hosting services and suggested investing in local hosting infrastructure, such as Galaxy Backbone, to retain this revenue within Nigeria.
Flutterwave, founded by young Nigerian entrepreneurs, operates in over 30 African countries, as well as in the U.S. and Canada. The delegation at the meeting included co-founder Adeleke Adekoya, Oluwabankole Falade, and Mitesh Popat. Alami Capital was represented by CEO Oluseun Olufemi-White.
Also present at the meeting were Dr. Inuwa Kashifu Abdullahi, Director General/CEO of the National Information Technology Development Agency (NITDA), alongside other top government officials.