The Federal Government is considering a $75 million investment in Flutterwave’s planned $250 million Initial Public Offering (IPO), which could become one of Nigeria’s largest technology listings.
Sources revealed that the proposal was presented to the Ministry of Finance Incorporated (MoFI) as part of Flutterwave’s effort to secure sovereign backing ahead of the public offer.
Flutterwave, founded in 2016 by Iyinoluwa Aboyeji, Olugbenga Agboola, and Adeleke Adekoya, provides payment processing solutions for enterprises, startups, and small businesses. The fintech company, valued at over $1 billion, holds a Switching and Processing License from the Central Bank of Nigeria (CBN).
According to insiders, while no final agreement has been reached, the company has already attracted several institutional investors, including those represented on its board. Discussions with MoFI and the Ministry of Finance are ongoing to define the government’s potential stake.
In preparation for the transaction, the government reportedly engaged two of the world’s leading auditing firms to review Flutterwave’s financials, structure, and long-term growth prospects before committing public funds.
The process follows a recent meeting between Flutterwave executives and President Bola Tinubu, during which the President directed the company to work with the Ministry of Finance and MoFI to explore investment opportunities.
Confirming the development, the Ministry of Finance said Minister Wale Edun met with Flutterwave and MoFI representatives to discuss a strategic partnership that aligns with the administration’s digital economy goals.
“Flutterwave showcased how its cross-border payment infrastructure is powering trade and entrepreneurship across more than 30 countries,” the ministry said in a statement, adding that both sides agreed on a roadmap for collaboration.
Industry analysts said the move could strengthen investor confidence in Nigeria’s fintech ecosystem and mark a turning point for technology listings in the local capital market.
If concluded, the partnership would also reinforce the government’s commitment to financial inclusion, innovation, and youth empowerment through private sector collaboration.
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