Tinubu approves $75m investment in Flutterwave ahead of IPO
President Tinubu Approves $75 Million Investment in Flutterwave Ahead of IPO
By Enitan Abdultawab
President Bola Tinubu has sanctioned a $75 million investment in Flutterwave, advancing preparations for the fintech company’s upcoming initial public offering (IPO).
The federal government announced the investment through a post on the social media platform X on Monday, shared by Dada Olusegun, the president’s special assistant for social media. The announcement highlighted that Tinubu’s approval marks a significant step towards finalizing the deal.
At the current official exchange rate of N1,343.64 to the dollar, the investment amounts to approximately N100.7 billion, representing 0.15 percent of Nigeria’s national budget for 2026.
This funding is part of Flutterwave’s broader strategy to raise a total of $250 million through its IPO. Last year, the company successfully secured $250 million during its Series D fundraising round, achieving a valuation exceeding $3 billion.
In February 2025, Tinubu emphasized Nigeria’s commitment to fostering a business-friendly environment, particularly for fintech companies that enhance payment infrastructure across the nation and the African continent.
To accelerate this agenda, Finance Minister Wale Edun met with Flutterwave executives and representatives from the Ministry of Finance Incorporated (MoFI) on October 10, 2025. The meeting underscored the government’s aim to bolster the digital economy and support young entrepreneurs in Nigeria.
Flutterwave has indicated that the investment will be instrumental in executing its growth strategy, which includes potential mergers and acquisitions, expanding its customer base in existing markets, and developing new products to foster innovation.
The company has also expressed its intentions to list on the Nigerian Exchange (NGX) and is seeking government support to facilitate this goal.
