FG to Invest $75M in Flutterwave's IPO Initiative

The Federal Government of Nigeria, under President Bola Tinubu, is set to invest $75 million in Flutterwave's proposed $250 million initial public offering (IPO). This investment is part of a broader strategy to deepen participation in the country's technology sector and bolster confidence in the domestic capital market.

Flutterwave, founded in 2016, is recognized as one of Africa's leading payment companies, providing cross-border payment solutions across 30 countries. The IPO is expected to broaden ownership among Nigerian investors and enhance participation in the tech sector.

The government has conducted extensive due diligence, including reviews by two of the Big Four accounting firms, to approve this investment. This move is also aimed at showcasing Nigeria's capacity to support global competitive technology companies and is part of a broader partnership with Flutterwave to strengthen Nigeria's digital economy, expand financial inclusion, and support small and medium enterprises (SMEs) and cross-border trade.