First in line to congratulate the co-founder and CEO of Flutterwave, Olugbenga ‘GB’ Agboola was Lagos State Governor, Babajide Sanwoolu. The Africa-focused payment technology company, recently raised $170 million in a Series C round, taking its valuation to $1 billion. Mr Sanwoolu got plenty of criticism for what is perceived as apparent hypocrisy.
The governor had tweeted his congratulations to GB’s thread announcing the Series C round, committing his government to deeper interaction with the company.
“Huge congratulations to Gbenga and the entire team of
@theflutterwave for this landmark achievement. Stories of how they are enabling SMEs are everywhere around us and as a government, we are committed to supporting deeper interaction,” he tweeted.
Huge congratulations to Gbenga and the entire team of @theflutterwave for this landmark achievement. Stories of how they are enabling SMEs are everywhere around us and as a government, we are committed to supporting deeper interaction. https://t.co/7srJog6rZa
— Babajide Sanwo-Olu (@jidesanwoolu) March 11, 2021
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For many replying to the tweet, this is familiar territory. In July 2019, Lagos State Government (LASG) met with the players in the then commercial motorcycle sector in Lagos as part of its “deeper interaction” with the sector. It also drew up a proposal between itself, NURTW, and the startups in that space by November of the same year. The proposal imposed a ₦500($1.37)/bike fee daily to operate across Lagos, with no returning benefit for the start-ups.
By January 2020, the government decided to ban all activities of players in that sector, citing road accidents. Its solution was to roll out buses, which more than a year later, has not adequately catered for the deficiency. As a result, thousands lost gainful employment, millions more returned to difficult transportation challenges, and the government again losing out on several millions in Naira it could have been realised in revenue.
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This is simply why people think Flutterwave should be wary of Sanwoolu and LASG’s congratulations; LASG seems to have developed a habit of recognising success stories, congratulating them, killing them via oppressive policies before launching its cloned versions. It did with Gokada, it’s trying to do the same with Bolt, Uber and also who knows who is next?
Remember to over tax them ooo
Moreover Gokada Says hi..
— Eze Udene Umunri (@AdannaPapa) March 11, 2021
Remember to over tax them ooo
Moreover Gokada Says hi..
— Eze Udene Umunri (@AdannaPapa) March 11, 2021
Remember to over tax them ooo
Moreover Gokada Says hi..
— Eze Udene Umunri (@AdannaPapa) March 11, 2021
One person even tweeted their message as titled by a popular Ric Hassani song
— eronsmathew (@ehizerons) March 11, 2021
So yeah, you can’t blame how people choose to react to ‘congratulations’ especially when it’s coming from a quarter we’ve learned to be wary of its every move. Thank you Governor Babajide Sanwoolu for your congratulations, but we are watching your every move as regards Flutterwave.
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