FG to invest $75m in Flutterwave IPO

The federal government is set to invest $75m in Flutterwave’s proposed $250m initial public offering, in a move aimed at deepening its participation in Nigeria’s fast-growing technology sector.

The planned investment, approved by President Bola Tinubu and to be executed through the ministry of finance incorporated, is part of wider efforts to strengthen confidence in the domestic capital market and support leading African tech firms.

Flutterwave’s IPO, expected to value the company at over $3bn, will mark its first listing on a stock exchange and is designed to broaden ownership while raising fresh capital for expansion.

Officials familiar with the process said the government carried out extensive due diligence before signing off on the deal, including assessments by two of the Big Four accounting firms.

A source close to the arrangement said the investment is intended to signal confidence in Nigeria’s digital economy. “The idea is to show that something good can come out of Nigeria and its promise,” the source said, noting that sovereign backing could attract further institutional investors.

The transaction follows months of engagement between both parties, including discussions in late 2025 between the ministry of finance, the Ministry of Finance Incorporated (MoFI), and Flutterwave on broader cooperation to expand financial inclusion, payment infrastructure, and cross-border trade.

Founded in 2016, Flutterwave has grown into one of Africa’s leading payments companies, operating across more than 30 countries.

Its planned listing is expected to deepen local participation in the tech sector while positioning Nigeria more prominently in global fintech markets.