<< Back             Poser >> Tinubu approves $75m investment in Flutterwave ahead of IPO By Enitan Abdultawab President Bola Tinubu has approved a $75 million investment into Flutterwave as plans are nearing completion for the company’s initial public offering (IPO). The FG approval of the investment in the fintech company was made public via an X post on Monday by Dada Olusegun, the president’s social media special assistant. “President Bola Ahmed Tinubu has given approval for the investment of $75 million in Flutterwave, as plans for the deal move closer to completion,” the announcement partly read. The investment is approximately N100.7 billion, or 0.15 percent of the national budget for 2026, at the current official exchange rate of N1,343.64 to the dollar. The investment deal is a component of Flutterwave’s larger strategy to raise $250 million through a first public offering. In 2022, the company raised $250 million in Series D fundraising, valued at more than $3 billion. Vanguard recalled that in February 2025, Tinubu reaffirmed that Nigeria is open to business and dedicated to removing obstacles to growth by announcing that his administration would encourage fintech companies that provide payment infrastructure throughout Nigeria and Africa. In order to fulfill the promise of the federal government, Wale Edun, the minister of finance and coordinating minister of the economy, met with the executives of Flutterwave and representatives from the Ministry of Finance Incorporated (MoFI) on October 10, 2025. The federal government also praised Flutterwave’s commitment to bolstering the digital economy, especially that of young Nigerians. The company now admits that the investment would assist its expansion strategy, which includes exploring mergers and acquisitions, increasing client acquisition in current areas, and creating complementary products to spur innovation. Flutterwave had expressed interest in going public on the Nigerian Exchange (NGX), requesting support from the government. Vanguard Business News	Ghana government misses GH¢4.89b Treasury Bill target The Ghana government fell short of its Treasury Bill target, raising GH¢4 billion against a goal of GH¢4.89 billion in the latest auction. Boosted by FTSE Russell Reclassification, MTN, Others’ Market Value Up N93.6trn  Kayode Tokede  Following FTSE Russell reclassification of Nigeria’s from unclassified to Frontier Market status in its interim review, the market valuation of  MTN Nigeria Communications Plc  Plc and 12 others Nigeria’s daily oil production rises 4.2% to 1.54mbpd — NUPRC By Obas Esiedesa The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday said that Nigeria’s oil production rose by 4.2 per cent to 1.546 million barrels per day (mbpd) in March 2026, compared to 1.483 mbpd recorded in February. In its oil production status report released yesterday, the Commission said crude oil production (excluding condensate) increased by […] Dangote Sugar shareholders approve N500bn Rights Issue for strategic expansion By Udeme Akpan Dangote Sugar Refinery Plc has received shareholders’ approval for a N500 billion Rights Issue, thus positioning the company to strengthen its financial standing, expand capital base, accelerate strategic initiatives, and aid its backward integration projects. The approval was given at the company’s 20th Annual General Meeting held yesterday in Lagos during which […] Inflation rise poses significant risks to business sustainability — LCCI The Lagos Chamber of Commerce and Industry (LCCI) has said that the uptick in inflation in the month of March poses significant risks to business sustainability. This is coming at the backdrop of the latest headline inflation figure which shows a rise to 15.38% in March 2026, up from 15.06% in February as reported by the National […] Tinubu approves $75m investment in Flutterwave ahead of IPO President Bola Tinubu has approved a $75 million investment into Flutterwave as plans are nearing completion for the company’s initial public offering (IPO).