President Bola Ahmed Ahmed Tinubu has reaffirmed his administration’s commitment to supporting businesses in the financial technology sector, particularly those providing payment infrastructure services for Nigerians and Africans.
The President made this pledge on Saturday, February 22, 2025, when he received the leadership of Flutterwave and Alami Capital at the Presidential Villa in Abuja.
According to a press statement signed by Bayo Onauga, the Special Adviser Information and Strategy to President Tinubu the delegation was led by Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
Flutterwave, a leading Nigerian fintech company, was represented by its CEO, Olugbenga Agboola; co-founder, Adeleke Adekoya; as well as senior executives Oluwabankole Falade and Mitesh Popat. The CEO of Alami Capital, Ms. Oluseun Olufemi-White, also attended the meeting.
Also present were Dr. Armstrong Ume Takang, Managing Director and Chief Executive of the Ministry of Finance Incorporated (MOFI), and Dr. Inuwa Kashifu Abdullahi, Director General of the National Information Technology Development Agency (NITDA).
Tinubu emphasised that his government is determined to remove obstacles hindering businesses, allowing them to thrive in Nigeria’s evolving digital economy.
He highlighted Flutterwave’s leadership in the fintech sector and commended its contributions to the country’s economic growth adding, “Nigeria is genuinely open for business, and as President, I am committed to ensuring that businesses—especially those driven by young, energetic Nigerians—have the support they need to grow and expand.”
The President acknowledged Flutterwave’s achievements in digital payments, which have made financial transactions easier for Nigerians and Africans.
He expressed pride in the country’s resourceful and innovative youth, describing them as a key driver of Nigeria’s digital transformation.
Speaking on the company’s impact, CEO Olugbenga Agboola noted that Flutterwave has revolutionised digital payments, allowing Nigerians to seamlessly pay for global services in Naira and facilitating remittances for Nigerians in the diaspora.
The fintech giant, valued at over $3 billion, operates in multiple countries, including the United States, Canada, Kenya, Ghana, Uganda, South Africa, and 29 other African nations. It currently employs over 1,000 Nigerians.
Agboola also expressed Flutterwave’s interest in being listed on the Nigerian Exchange and sought the President’s support in achieving this goal.
During the meeting, Dr. Armstrong Ume Takang of MOFI emphasised the importance of strengthening Nigeria’s digital infrastructure.
He pointed out that Flutterwave spends millions of dollars monthly on hosting services, with the majority of those funds going to foreign providers.
He suggested that supporting Nigeria’s state-owned Galaxy Backbone could help retain such investments within the country, fostering local technological development and reducing dependence on foreign hosting services.
Minister of Finance Wale Edun lauded Flutterwave’s contributions over the past decade, stating that the company has played a crucial role in job creation and economic diversification through its innovative digital payment solutions.
The meeting underscored the government’s recognition of fintech as a vital sector in Nigeria’s economic future and signaled stronger collaboration between the public and private sectors to drive technological growth and financial inclusion.
