Former Minister of Communications and Digital Economy, Prof. Isa Ali Pantami, has called for increased investment in Nigeria’s fintech sector. He cited the rapid growth of OPay as proof of what the right policies can achieve.
Pantami said OPay, which launched in 2018, has become one of Nigeria’s leading fintech platforms. The company now provides millions of users with access to digital financial services.
Pantami stressed that this growth did not happen by chance. He said deliberate government policies made it possible.
According to him, the ministry focused on building an enabling environment between 2020 and 2021. He highlighted improved regulation, better digital infrastructure, and stronger security support.
These efforts helped fintech startups scale quickly and attract both local and international investors.
He also pointed to key reforms that boosted the ecosystem. These include increased broadband penetration, digital literacy programs, and data-driven policymaking.
Pantami said these initiatives allowed companies like OPay to expand operations and improve service delivery nationwide.
Pantami noted that several Nigerian startups have now reached “unicorn” status, with valuations above $1 billion. Some, he added, are approaching $2 billion.
He described this as a major milestone for Nigeria’s digital economy.
Reflecting on past efforts, Pantami referenced key policy engagements around October 2020 under the administration of Muhammadu Buhari.
By 2023, he said, the impact had become clear. Fintech companies expanded, user adoption increased, and the sector contributed more to economic growth.
He urged both the government and private sector to sustain this progress. He called for more investment, stronger infrastructure, and continued support for innovation.
Pantami concluded that fintech remains a key driver of Nigeria’s future economy.
