BREAKING: President Tinubu Approves $75m Investment in Flutterwave Ahead of IPO
According to a report by Vanguard Newspaper on Monday, April 20, 2026, President Bola Ahmed Tinubu has approved a $75 million investment in Flutterwave as the fintech company moves closer to its planned initial public offering.
Presidential aide Dada Olusegun disclosed the approval in a post shared on X, noting that the transaction is progressing toward completion.
The investment is valued at about N100.7 billion, representing roughly 0.15 percent of Nigeria’s 2026 budget based on the official exchange rate of N1,343.64 per dollar.
It forms part of Flutterwave’s broader capital raising strategy aimed at securing $250 million through an initial public offering while strengthening its market position.
The company previously raised $250 million in its 2022 Series D funding round, which valued it at more than $3 billion.
In February 2025, Tinubu reiterated Nigeria’s readiness for investment inflows, particularly in fintech, and pledged to reduce barriers limiting sector growth.
Subsequently, Finance Minister Wale Edun met Flutterwave executives and officials of the Ministry of Finance Incorporated on October 10, 2025 to advance discussions on collaboration.
The federal government has commended Flutterwave for its role in expanding digital financial services and supporting young entrepreneurs across Africa.
The firm plans to deploy the new capital toward mergers and acquisitions, customer acquisition in existing markets, and development of new products while continuing to explore listing on the Nigerian Exchange.
The federal government said the initiative aligns with government efforts to deepen the digital economy and attract sustainable technology-driven investment into Nigeria’s financial sector.
It is expected to further position Nigeria as a competitive fintech hub in Africa going forward sustainably now
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