President Bola Ahmed Tinubu has approved a $75 million government-backed investment in Flutterwave, signaling a major step toward the company’s planned Initial Public Offering (IPO) and reinforcing confidence in Nigeria’s tech ecosystem.
The investment will be executed through the Ministry of Finance Incorporated (MoFI) and forms part of Flutterwave’s broader effort to raise $250 million from the public market. The fintech firm, currently valued at over $3 billion, had approached the Federal Government in 2025 to participate in the offering.
Before granting approval, the government commissioned two of the “Big Four” global accounting firms to conduct a comprehensive review of Flutterwave’s financial records and operations. The move was aimed at ensuring transparency, strengthening due diligence, and boosting investor confidence ahead of the IPO.
Sources familiar with the deal said Flutterwave’s request for government participation was strategic, designed to secure sovereign backing and elevate Nigeria’s image as a hub for innovation.
“The idea is to show that something good can come out of Nigeria and its promise,” a source said, adding that the IPO would also broaden ownership and allow Nigerians to invest directly in the company’s growth.
Investor appetite for the offering appears strong. Existing shareholders are reportedly considering increasing their stakes, while new institutional investors are positioning to buy in. Market insiders suggest the IPO could be oversubscribed, citing Flutterwave’s rapid expansion and growth potential.
Meanwhile, the Federal Government is also weighing an expansion of the Mortgage Refinancing and Equity Investment Fund (MREIF) following its strong performance in the housing sector.
Officials at the Ministry of Finance revealed that the fund has generated over N25 billion in profit from the N250 billion raised, with returns already distributed to investors. Since Q2 2025, more than N105.06 billion has been disbursed to 1,501 beneficiaries, while over 2,000 applications remain under review.
The MREIF digital platform is now fully operational, hosting more than 4,770 housing units and attracting over 60,000 expressions of interest. Additionally, more than 2,000 developers have registered, providing access to over 122,000 workers across 178 cooperatives.
To improve affordability, authorities have reduced mortgage interest rates from 12 percent to 9.75 percent and lowered the minimum equity contribution from 20 percent to 10 percent. These adjustments are expected to expand access to housing finance and deepen participation in Nigeria’s property market.
With parallel moves in fintech investment and housing finance reform, the government appears to be positioning key sectors for growth while seeking to boost investor confidence both locally and internationally.
