Lagos State Governor, Babajide Sanwo-Olu, has commended African fintech company Flutterwave for processing over $50 billion in transactions across 36 countries, describing the milestone as a major achievement for Nigeria’s technology and innovation ecosystem.
The governor praised the company’s growth trajectory and its role in strengthening digital payments infrastructure across Africa and beyond. He noted that the achievement demonstrates the capacity of Nigerian-founded technology firms to compete on a global scale and drive financial inclusion through innovation.
Sanwo-Olu highlighted Lagos State’s position as a hub for startups and fintech companies, emphasizing that the state government remains committed to creating an enabling environment for technology-driven businesses. He stated that investments in digital infrastructure, regulatory collaboration, and talent development are central to sustaining the growth of companies like Flutterwave.
Flutterwave, which provides payment processing solutions for businesses and financial institutions, has expanded its operations across multiple markets, enabling seamless cross-border transactions and supporting merchants with digital payment tools. The company’s platform facilitates payments in various currencies and integrates with global financial systems to simplify commerce for businesses of all sizes.
Industry analysts have described the $50 billion transaction milestone as a reflection of rising adoption of digital payments in emerging markets. They noted that fintech innovation continues to play a significant role in bridging financial gaps, particularly in regions where traditional banking access is limited.
Sanwo-Olu encouraged more young entrepreneurs to explore opportunities in technology and digital services, adding that the success of Flutterwave serves as inspiration for Nigeria’s growing startup ecosystem. He reiterated the government’s commitment to fostering partnerships that will position Lagos as a leading technology and financial innovation center in Africa.