President Bola 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.
He made this pledge during a meeting with the leadership of Flutterwave and Alami Capital in Abuja on Saturday.
Flutterwave, a leading Nigerian fintech company, operates in multiple countries, including the U.S., Canada, Nigeria, Kenya, Uganda, Ghana, and South Africa. The company’s delegation included CEO Olugbenga Agboola, co-founder Adeleke Adekoya, Oluwabankole Falade, and Mitesh Popat, while Alami Capital was represented by its CEO, Oluseun Olufemi-White.
Also present at the meeting were Finance Minister Wale Edun, Dr. Armstrong Ume Takang, CEO of the Ministry of Finance Incorporated (MOFI), and Dr. Inuwa Kashifu Abdullahi, Director General of the National Information Technology Development Agency (NITDA).
President Tinubu emphasized Nigeria’s openness to business and his determination to eliminate barriers hindering corporate growth. He praised Flutterwave’s role in the digital economy, highlighting the company’s contribution to financial inclusion and economic expansion.
Finance Minister Wale Edun commended Flutterwave for its decade-long impact, noting its job creation and role in diversifying Nigeria’s economy through digital payment solutions
Flutterwave CEO Olugbenga Agboola revealed that the company, valued at over $3 billion, has enabled Nigerians to make global payments in Naira and facilitated remittances for the diaspora. He expressed interest in listing Flutterwave on the Nigerian Exchange and sought the President’s backing.
Dr. Armstrong Ume Takang of MOFI emphasized the need for Nigeria to assert its economic influence by positioning companies like Flutterwave as key players across Africa. He also proposed leveraging local hosting services like Galaxy Backbone to retain the millions of dollars spent monthly on foreign hosting platforms.