Key Points
- Shettima says Tinubu’s reforms are helping indigenous companies expand internationally.
- He cites Flutterwave, Moniepoint and Andela as beneficiaries of the reforms.
- Flutterwave says it aims to strengthen its position in Africa and globally.
Main Story
Vice President Kashim Shettima says economic reforms introduced by President Bola Tinubu’s administration are helping Nigerian companies scale their operations and compete internationally.
Shettima made the statement on Monday in Abuja when he received a delegation from Flutterwave, led by its Chief Executive Officer and Co-Founder, Olugbenga Agboola.
The vice president said the growth of indigenous companies was an important part of Nigeria’s economic transformation, citing Flutterwave, Moniepoint and Andela among firms expanding their businesses as the reforms take effect.
He assured the Flutterwave delegation of the Federal Government’s continued support for the company both within Nigeria and in its international operations.
“We have to support and promote our own. We have to make our companies stronger,” Shettima said.
He commended Flutterwave for developing what he described as one of Africa’s notable technology stories from Nigeria, attributing the company’s progress to committed leadership and expertise.
Shettima also highlighted the company’s focus on addressing African challenges through locally developed solutions, particularly in digital payments for products and services.
Flutterwave is an indigenous fintech company that provides payment infrastructure for global merchants and payment service providers.
Agboola told the vice president that Flutterwave’s goal was to achieve significant growth over the next few years and strengthen its position in payments and banking across Africa and globally.
He thanked President Tinubu, Shettima and the Federal Government for their confidence in the company, describing the engagement as an important milestone for Flutterwave.
Agboola said the company wanted to work with the administration to identify further ways of advancing its economic agenda.
He stressed Flutterwave’s Nigerian identity and its commitment to contributing to the country’s development.
The Issues
The meeting highlights the role of indigenous technology and financial-services companies in Nigeria’s broader economic strategy.
For companies such as Flutterwave, expansion beyond Nigeria also places greater importance on access to supportive policies and an operating environment that enables local businesses to compete across African and international markets.
What’s Being Said
“We have to support and promote our own. We have to make our companies stronger.”
Kashim Shettima, Vice President
“It is a strategic signal of how Nigeria is supporting Nigeria.”
Olugbenga Agboola, Flutterwave CEO and Co-Founder
“We are very much a Nigerian company. I’m very much Nigerian. Nigeria is our home.”
Olugbenga Agboola, Flutterwave CEO and Co-Founder
What’s Next
Flutterwave says it plans to pursue significant growth over the next few years as it seeks to strengthen its position in payments and banking across Africa and globally.
The company also indicated its willingness to work with the Federal Government on ways to advance the administration’s economic agenda.
Bottom Line
Shettima says Nigeria’s economic reforms are creating conditions for indigenous companies such as Flutterwave to expand beyond the domestic market. Flutterwave, in turn, says it intends to play a greater role in Africa’s payments and banking landscape.
