Abuja, Nigeria– President Bola Ahmed Tinubu commended Flutterwave, a leading financial technology company, for significantly enhancing Nigeria’s digital economy.
During a meeting with Flutterwave executives at the Presidential Villa on Saturday, Tinubu emphasized that innovative companies drive economic growth and development.
He acknowledged their critical role in making life easier for citizens across the nation.
The President also met with several key figures, including CEO Olugbenga Agboola and co-founder Adeleke Adekoya.
Moreover, other attendees included Oluwabankole Falade and Mitesh Popat, representing Flutterwave, alongside Ms. Oluseun Olufemi-White, CEO of Alami Capital. Meanwhile, the delegation was led by Finance Minister Mr. Wale Edun, who highlighted the importance of collaboration.
Additionally, Dr. Armstrong Ume Takang, MOFI’s Managing Director, and Dr. Inuwa Kashifu Abdullahi, Director General of NITDA, joined the meeting. President Tinubu expressed pride in Nigeria’s youthful and resourceful population, emphasizing their significant role in driving innovation.
In his remarks, he stated, “The leadership that Flutterwave provides in the digital world is precisely what Nigeria needs to grow its economy.”
Furthermore, he added, “As President, I am committed to removing obstacles that hinder businesses from thriving.”
Tinubu reiterated his administration’s unwavering support for businesses in the financial technology sector, particularly those offering payment infrastructure services for Nigerians and Africans.
Flutterwave’s Contributions to Economic Growth
Minister Wale Edun commended Flutterwave’s accomplishments over the past decade, emphasizing that the company has actively created jobs and diversified Nigeria’s economy.
Specifically, he noted that Flutterwave achieved this by launching innovative digital platforms and payment solutions across Africa.
“Flutterwave represents a shining example of how Nigerian companies can lead in the global digital economy,” Edun remarked.
Olugbenga Agboola, Flutterwave’s CEO, elaborated on the company’s transformative role in Nigeria’s financial ecosystem.
He explained that Flutterwave has empowered Nigerians to pay for global services using local currency while facilitating diaspora remittances.
“Flutterwave is valued at over $3 billion and employs over 1,000 Nigerians,” Agboola revealed.
Additionally, he shared the company’s goal to list on the Nigerian Exchange and requested the President’s support to realize this ambition.
Furthermore, Agboola underscored Flutterwave’s significance as a Nigerian export and brand. He stressed that the company exemplifies the country’s technological capabilities on a global scale, showcasing Nigeria’s innovation and expertise.
Call for Strategic Investments in Local Hosting Services
Dr. Armstrong Ume Takang of MOFI stressed the importance of positioning Nigerian companies like Flutterwave as leaders in Africa’s economic landscape. He pointed out that despite its success, Flutterwave spends millions of dollars monthly on hosting services outside Nigeria. He proposed that the government support local hosting providers such as Galaxy Backbone to enable them to handle the needs of major companies like Flutterwave.
“As Africa’s largest economy, Nigeria must demonstrate its economic strength by ensuring that homegrown products and services are present in every African household,” Dr. Takang said.
A Vision for a Thriving Digital Economy
The meeting underscored President Tinubu’s vision for a thriving digital economy driven by innovative Nigerian companies.
By fostering an enabling environment for businesses like Flutterwave, the administration aims to position Nigeria as a hub for technological advancement and economic growth in Africa.
Flutterwave continues to be a trailblazer in financial technology, offering solutions that connect individuals and businesses across borders while reinforcing Nigeria’s position as a leader in Africa’s digital transformation.
