President Bola Ahmed Tinubu has approved a $75 million investment by the Federal Government of Nigeria in the upcoming initial public offering (IPO) of fintech company Flutterwave.
The investment will be executed through the Ministry of Finance Incorporated (MoFI) as part of the government’s participation in Flutterwave’s planned $250 million IPO.
According to the announcement, the move reflects the administration’s strategy to support high-growth Nigerian technology firms and deepen local participation in capital markets. Flutterwave, one of Africa’s leading digital payments companies, has attracted global attention for its role in facilitating cross-border transactions and financial inclusion.
Analysts say the government’s stake could signal confidence in Nigeria’s fintech sector and potentially encourage further institutional investment in homegrown technology companies.
However, the decision may also draw scrutiny regarding the use of public funds for equity investments, particularly in private-sector ventures.
As of the time of reporting, further details on the structure and timing of the IPO have not been disclosed.
