President Tinubu Pledges Support for Fintech Growth as Flutterwave Plans Nigerian Exchange Listing

President Bola Tinubu has pledged his administration's support for financial technology companies, emphasizing the government's commitment to fostering businesses that provide payment infrastructure services across Nigeria and Africa. This assurance was given during a meeting with the leadership of Flutterwave and Alami Capital at the Presidential Villa in Abuja on Saturday afternoon.

Flutterwave, a prominent fintech company founded by young Nigerians and headquartered in Lagos, operates in the U.S., Canada, Nigeria, Kenya, Uganda, Ghana, South Africa, and 29 other African countries. The company's delegation included CEO Olugbenga Agboola, co-founder Adeleke Adekoya, Oluwabankole Falade, and Mitesh Popat. Alami Capital was represented by its CEO, Oluseun Olufemi-White.

The meeting was also attended by Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Managing Director and Chief Executive of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Ume Takang; and Director General/Chief Executive Officer of the National Information Technology Development Agency (NITDA), Dr. Inuwa Kashifu Abdullahi.

President Tinubu highlighted Nigeria's openness to business and expressed his determination to eliminate obstacles hindering corporate growth. He lauded Flutterwave's dedication to enhancing the digital economy, particularly through the efforts of dynamic young Nigerians, stating that their leadership in the digital sector is essential for economic growth and improving the quality of life for the populace.

Minister Wale Edun acknowledged Flutterwave's significant achievements over the past decade, noting its role in job creation and economic diversification through innovative digital platforms and payment services across the continent.

CEO Olugbenga Agboola shared that Flutterwave, valued at over $3 billion and employing more than 1,000 Nigerians, has facilitated seamless payments for global services in Naira and provided platforms for diaspora remittances. He expressed the company's intention to list on the Nigerian Exchange and sought the President's support for this initiative.

Dr. Armstrong Ume Takang emphasized the importance of showcasing Nigerian companies like Flutterwave to affirm the nation's economic strength. He pointed out that Flutterwave spends millions of dollars monthly on hosting services abroad and suggested bolstering local providers, such as Galaxy Backbone, to retain these expenditures within the country.

This engagement underscores the government's commitment to supporting the fintech sector and promoting indigenous enterprises in the global market.