President Bola Tinubu has approved a $75 million investment in Flutterwave, as the company’s initial public offer (IPO) plans near completion.
Special assistant to the president on social media, Dada Olusegun, disclosed this in a post on X on Monday.
He wrote: “President Bola Ahmed Tinubu has given approval for the investment of $75 million in Flutterwave, as plans for the deal move closer to completion.”
At the current official foreign exchange rate of N1,343.64, the $75 million amounts to N100.7 billion. This is about 0.15 per cent of the 2026 budget.
The investment forms part of Flutterwave’s efforts to raise $250 million through an IPO.
The financial technology (fintech) firm had previously raised $250 million in Series D funding in 2022, valuing the company at over $3 billion.
Flutterwave said the new funding will support its expansion strategy, including accelerating customer acquisition in existing markets, pursuing mergers and acquisitions, and developing complementary products to drive innovation.
In February 2025, Tinubu said his administration would support fintech companies providing payment infrastructure across Nigeria and Africa, reiterating that the country is open to business and committed to removing barriers to growth.
The president commended Flutterwave’s role in strengthening the digital economy, particularly through the contributions of young Nigerians.
The company had also indicated interest in listing on the Nigerian Exchange (NGX), seeking government backing for the move.
On October 10, 2025, Wale Edun, the minister of finance and coordinating minister of the economy, met with Flutterwave executives and officials of the Ministry of Finance Incorporated (MoFI) to explore a strategic partnership.
Edun commended Flutterwave’s role in driving innovation and reaffirmed the federal government’s commitment to investments that promote financial inclusion, empower small businesses, and position Nigeria as a hub for digital transformation.
The engagement reportedly concluded with an agreement on a roadmap for collaboration, with officials noting that the partnership would boost investor confidence and strengthen Nigeria’s innovation ecosystem once finalised.
