In a pivotal move aimed at fostering Nigeria’s digital transformation, Honourable Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, held a crucial discussion with Interswitch, a leading Nigerian digital payments platform, to explore how the private sector can play a central role in advancing the nation’s economic reforms and digital infrastructure.
The meeting, which took place on Wednesday, focused on the potential for collaboration between the government and private companies to drive digital innovation, improve financial inclusion, and promote economic diversification. Edun, in his address, emphasized the strategic importance of digital infrastructure as a critical driver for Nigeria’s future economic prosperity.
“Digital infrastructure is no longer optional; it is the backbone of modern economies. For Nigeria to maintain its trajectory towards economic growth and sustainable development, we must invest in and leverage digital solutions that can drive efficiency, enhance financial inclusion, and open new avenues for business and innovation,” Edun said.
Interswitch, a pioneer in the Nigerian fintech sector known for its flagship services such as Quickteller and Verve cards, expressed its readiness to collaborate with the government in facilitating these reforms. Mitchell Elegbe, CEO of Interswitch, reaffirmed the company’s commitment to supporting Nigeria’s vision of a digital economy that is inclusive, secure, and efficient.
“We are fully committed to working with the government to build a resilient digital economy that benefits every Nigerian. The role of technology in the global economy cannot be overstated, and we believe that the partnership between the government and private sector players like Interswitch will be critical in achieving Nigeria’s long-term development goals,” Elegbe stated.
The discussion also highlighted the need to streamline regulatory frameworks to ensure they support innovation while safeguarding consumer interests and ensuring financial stability. Both parties agreed that creating an enabling environment for fintech innovations will not only spur job creation but also elevate Nigeria’s standing as a leader in the African digital economy.
The collaboration between the federal government and private companies such as Interswitch is seen as a crucial step in advancing Nigeria’s economic reforms. Stakeholders are optimistic that this partnership will accelerate the country’s digital transformation, enhance financial services, and ultimately contribute to Nigeria’s overall economic resilience and global competitiveness.
