President Bola Ahmed Tinubu has pledged his administration’s unwavering support for the growth and development of Nigeria’s fintech sector, highlighting its potential to drive economic diversification and job creation. His comments came on the heels of Flutterwave’s announcement that it is seeking a listing on the Nigerian Exchange, marking a significant milestone in the evolution of the country’s technology-driven financial services industry.
In a statement released by the presidency, President Tinubu emphasized that fintech companies such as Flutterwave are integral to the Nigerian economy’s digital transformation. “Our government is committed to creating an enabling environment for innovation, particularly in sectors like fintech, which have shown remarkable potential in transforming the financial landscape and improving access to essential services for millions of Nigerians,” Tinubu said.
Flutterwave, a leading African payment technology company, made headlines earlier this week with its formal application to be listed on the Nigerian Exchange (NGX). This move is expected to not only bolster Flutterwave’s growth but also enhance the visibility of Nigeria’s burgeoning fintech ecosystem on the global stage. The company’s CEO, Olugbenga Agboola, expressed optimism about the listing, calling it a testament to the company’s commitment to creating a more inclusive and efficient digital economy.
“This is a pivotal moment for Flutterwave, and we are excited to take this next step in our journey. By listing on the Nigerian Exchange, we aim to further strengthen our position in the market, support local innovation, and contribute to the broader financial inclusion agenda in Nigeria,” Agboola stated.
Industry experts have lauded Flutterwave’s listing move as a positive signal for other Nigerian tech startups, particularly in the fintech space. According to Dr. Ifeoma Adedayo, an economist and technology analyst, the listing of Flutterwave is a clear indication of the growing confidence in Nigeria’s digital economy. “This could inspire other fintech companies to follow suit, encouraging investments and helping to position Nigeria as a regional leader in fintech innovation,” Adedayo said.
The Nigerian government has made strides in supporting the fintech industry, with initiatives aimed at improving access to venture capital, regulatory clarity, and digital infrastructure. President Tinubu’s administration has also shown interest in advancing policies that foster collaboration between traditional financial institutions and fintech companies to enhance overall financial inclusion.
Flutterwave’s application to list on the Nigerian Exchange comes after a series of successful funding rounds that saw the company raise over $200 million from global investors. The listing is anticipated to drive further investment into Nigeria’s fintech sector, which has already become one of the fastest-growing industries in the country.
As the Nigerian government continues to prioritize the development of its digital economy, President Tinubu’s support signals a promising future for fintech startups, with Flutterwave poised to lead the charge toward greater market integration and innovation.
The full details of Flutterwave’s listing proposal are expected to be reviewed by the Nigerian Exchange over the coming months, with a decision anticipated before the end of the second quarter of 2025.
source: statehouse.gov.ng
