President Tinubu endorses Flutterwave’s digital economy expansion, SME growth, youth development in Nigeria

In a significant move to drive economic growth and development, President Bola Ahmed Tinubu held a strategic meeting with the leadership of Flutterwave, Africa’s leading payments technology company. The discussions focused on fostering youth empowerment, small and medium-sized enterprise (SME) development, and the expansion of Nigeria’s digital economy.

The meeting builds on the Federal Ministry of Youth Development’s recent Memorandum of Understanding (MoU) with Flutterwave, aimed at enhancing mentorship programs, providing access to start-up funding, and promoting skill development for young Nigerians. The partnership aligns with President Tinubu’s Renewed Hope Agenda, which prioritizes job creation, youth empowerment, and economic diversification.

Young entrepreneurs and SMEs across Nigeria will have increased access to business funding, mentorship programs, and technical and leadership training provided through key agencies such as the National Youth Service Corps (NYSC) and the Citizenship and Leadership Training Centre (CLTC). By leveraging digital innovation, the partnership aims to promote sustainable employment, foster the growth of youth-led businesses, and strengthen Nigeria’s entrepreneurial ecosystem.

Minister for Youth Development, Hon. Ayodele Olawande, emphasized the importance of this initiative in fulfilling the Renewed Hope Agenda and highlighted the roles of the NYSC and CLTC in delivering training and mentorship opportunities that will equip young Nigerians with essential entrepreneurial skills.

Further supporting the development of small businesses, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has partnered with Flutterwave to provide micro, small, and medium-sized enterprises (MSMEs) with advanced digital payment solutions, improved access to financial services, and capacity-building programs.

This partnership will enable MSMEs to accept various payment methods, including mobile wallets, card payments, and bank transfers, while gaining access to working capital loans and credit facilities to foster business sustainability. Charles Odii, Director-General and CEO of SMEDAN, noted that the collaboration strengthens the agency’s mission to help Nigerian businesses compete more effectively in the global market.

To further enhance Nigeria’s digital economy, the National Information Technology Development Agency (NITDA) has engaged Flutterwave to lead several digital transformation initiatives. Kashifu Inuwa Abdullahi, Director-General and CEO of NITDA, underscored the importance of accelerating digital adoption among SMEs, recognizing that increased access to digital infrastructure is critical for economic growth.

Olugbenga Agboola, Founder and CEO of Flutterwave, reaffirmed the company’s commitment to supporting Nigerian youth and SMEs through technology-driven solutions that drive long-term economic impact. He emphasized the significance of public-private partnerships in fostering innovation and sustainable growth.

President Tinubu concluded the meeting by highlighting the vital role of collaborative efforts in empowering Nigeria’s youth and business community. He reiterated his administration’s dedication to equipping the next generation with the necessary tools to succeed in a competitive and rapidly evolving global economy.