President Bola Tinubu has given the green light for a major $75 million federal government investment in African fintech leader Flutterwave, officials confirmed as the company races toward its initial public offering.
The capital injection marks a fresh vote of confidence in the payments firm at a time when it is finalising plans to raise fresh funds on the public market.
Dada Olusegun, Special Assistant to the President on Social Media, broke the news on X on Monday, stating: “President Bola Ahmed Tinubu has given approval for the investment of $75 million in Flutterwave, as plans for the deal move closer to completion.”
Olusegun’s announcement underlined that the deal is now advancing quickly, with all necessary steps being taken to seal the partnership.
At the prevailing official exchange rate of N1,343.64 to the dollar, the $75 million commitment equals roughly N100.7 billion — about 0.15 percent of the 2026 national budget.
The investment will count toward Flutterwave’s target of raising $250 million through its IPO.
The fintech outfit had earlier raised $250 million in a Series D round in 2022, pushing its valuation above $3 billion at the time.
According to the company, the new resources will power an ambitious expansion drive that includes faster customer growth in existing markets, targeted mergers and acquisitions, and the creation of new products designed to spark fresh innovation.
The president’s backing builds on his February 2025 pledge that his administration would actively support fintech companies building payment infrastructure across Nigeria and the rest of Africa.
He had stressed that the country remains open for business and is determined to clear every barrier to growth.
Tinubu specifically commended Flutterwave’s contribution to strengthening the digital economy, especially the role played by young Nigerians in the company’s success.
Flutterwave had earlier signalled its intention to list on the Nigerian Exchange (NGX) and had asked for government support to make the move a reality.
Persecondnews recalls that on October 10, 2025, Minister of Finance and Coordinating Minister of the Economy Wale Edun had met with Flutterwave executives and officials of the Ministry of Finance Incorporated (MoFI) to discuss a possible strategic partnership.
Edun used the occasion to praise the company’s record in driving innovation and reaffirmed the federal government’s determination to back investments that expand financial inclusion, empower small businesses, and cement Nigeria’s position as a digital transformation hub.
The meeting ended with both sides agreeing on a clear roadmap for collaboration.
Officials said the partnership, once finalised, would lift investor confidence and further strengthen Nigeria’s innovation ecosystem.
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