President Bola Ahmed Tinubu has endorsed a United States dollar 75 million participation by the Federal Government in fintech company Flutterwave, in a move seen as a boost for Nigeria’s digital economy space.
The funding will be channelled via the Ministry of Finance Incorporated (MOFI) and forms part of Flutterwave’s plan to secure about $250 million through a public share sale.
The African payments company, currently estimated to be worth over $3 billion, reportedly approached the Federal Government in 2025 to take part in the capital-raising exercise as part of efforts to build investor trust and attract state-level confidence.
Prior to approval, authorities commissioned two of the globally recognised “Big Four” audit and advisory firms to scrutinise the company’s books and operations, ensuring full compliance and transparency in the proposed arrangement.
Officials familiar with the development said the decision is aimed at highlighting Nigeria’s tech innovation capacity internationally while opening additional funding channels into the digital sector.
They also noted that the share offering is expected to widen participation, allowing Nigerian investors greater access to ownership in one of Africa’s prominent financial technology firms.
Interest in the deal is already reported to be high, with current shareholders seeking to expand their holdings while new institutional investors position themselves for entry. Market observers believe the offer could attract demand far above expectations, given the company’s expansion trajectory.
