In a strategic move to boost economic development, President Bola Ahmed Tinubu met with the leadership of Flutterwave, Africa’s top payments technology company, to discuss expanding Nigeria’s digital economy, supporting small and medium-sized enterprises (SMEs), and empowering young entrepreneurs.
This meeting builds on a recent Memorandum of Understanding (MoU) between Flutterwave and the Federal Ministry of Youth Development, aimed at mentorship programs, start-up funding, and skill development for Nigerian youth. The initiative aligns with President Tinubu’s Renewed Hope Agenda, which focuses on job creation, economic diversification, and youth empowerment.
Strengthening SMEs Through Digital Innovation
As part of this collaboration, young entrepreneurs and SMEs across Nigeria will gain access to business funding, mentorship, and leadership training through key government agencies, including the National Youth Service Corps (NYSC) and the Citizenship and Leadership Training Centre (CLTC). By leveraging digital technology, this initiative aims to create jobs, foster youth-led businesses, and build a thriving entrepreneurial ecosystem.
Hon. Ayodele Olawande, Minister for Youth Development, emphasized the significance of this initiative in realizing the Renewed Hope Agenda. He highlighted the role of the NYSC and CLTC in providing mentorship and training programs that equip young Nigerians with essential business skills.
To further support small businesses, Flutterwave has partnered with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to provide digital payment solutions, financial services, and capacity-building programs for micro, small, and medium-sized enterprises (MSMEs). This partnership will enable businesses to accept mobile wallets, card payments, and bank transfers while also gaining access to working capital loans and credit facilities to enhance business sustainability.
Charles Odii, Director-General and CEO of SMEDAN, stated that this collaboration strengthens the agency’s mission to help Nigerian businesses compete globally.
Accelerating Nigeria’s Digital Economy
To drive digital transformation, the National Information Technology Development Agency (NITDA) has partnered with Flutterwave to lead various digital adoption initiatives for SMEs. Kashifu Inuwa Abdullahi, Director-General and CEO of NITDA, highlighted the importance of expanding digital infrastructure to accelerate economic growth and modernize business operations.
Olugbenga Agboola, Founder and CEO of Flutterwave, reaffirmed the company’s commitment to supporting Nigerian youth and SMEs through technology-driven solutions that have a lasting economic impact. He stressed the importance of public-private partnerships in fostering innovation and sustainable development.
President Tinubu’s Commitment to Growth and Innovation
Closing the meeting, President Tinubu underscored the vital role of collaborative efforts in empowering Nigerian youth and businesses. He reaffirmed his administration’s dedication to equipping the next generation with the tools needed to succeed in a competitive global economy.