Federal Government has approved a $75 million investment in Flutterwave’s proposed $250 million initial public offering (IPO), marking the fintech giant’s debut listing on a stock exchange.
President Bola Ahmed Tinubu gave the greenlight for the investment, to be channeled through the Ministry of Finance Incorporated (MoFI), as part of concerted efforts to deepen Nigeria’s participation in the technology sector and bolster confidence in domestic capital markets.
The Nation reported on Monday that the move aligns with Flutterwave’s strategy to raise fresh capital and expand ownership via a public listing, potentially valuing the company at over $3 billion and cementing its status among Africa’s top tech firms.
Sources close to the discussions disclosed that the government undertook rigorous due diligence, including audits by two Big Four accounting firms, before granting approval.
The stake underscores the administration’s commitment to enhancing investor trust in Nigeria’s digital economy and demonstrating the nation’s ability to nurture globally competitive tech enterprises.
A source familiar with the matter said: “The idea is to show that something good can come out of Nigeria and its promise,” noting that sovereign involvement could anchor the IPO and draw more institutional investors.
The investment follows months of talks, including October 2025 engagements between MoFI and Flutterwave on partnerships to fortify Nigeria’s digital economy, promote financial inclusion via payments infrastructure, support SMEs, and ease cross-border trade.
Founded in 2016, Flutterwave has emerged as a pan-African payments leader, serving businesses in over 30 countries. Its IPO is poised to broaden Nigerian investor ownership and amplify local involvement in the tech ecosystem.
