The Federal Government has reportedly approved a $75 million investment in Flutterwave, as the company’s initial public offer (IPO) plans near completion.
“President Bola Ahmed Tinubu has given approval for the investment of $75 million in Flutterwave, as plans for the deal move closer to completion,” a post by the special assistant to the president on social media, Dada Olusegun, announced that the federal government’s capital injection approval in a post on X on Monday, 29th of April, 2026.
The investment forms part of Flutterwave’s attempts to raise $250 million through an IPO. According to the fintech company, the new funding will support its expansion strategy, including accelerating customer acquisition in existing markets, pursuing mergers and acquisitions, and developing complementary products to drive innovation.
At the current official Foreign Exchange Rate of N1,343.64, the $75 million investment amounts to N100.7 billion which is about 0.15 percent of the 2026 budget.
In February 2025, Tinubu stated that his administration would support fintech companies providing payment infrastructure across Nigeria and Africa, reiterating that the country is open to business and committed to removing barriers to growth.