Business
Lekki Port: Firm Signs Pact With NPA, LASG
The Lekki Port Investment Holding Incorporated – the lead promoters of Lekki Port LFTZ Enterprise, has signed a shareholders agreement with the Nigerian Ports Authority and Lagos State Government.
A statement from LPIHI said the signing ceremony was held at the office of the Governor of Lagos State recently. It noted that the agreement paved the way for equity participation in Lekki Port by NPA, which will hold 20 per cent in the project, and LASG, which will hold 18.15 per cent. Foreign investors, led by the Tolaram Group, Singapore through LPIHI, will take up the balance of 61.85 per cent.
According to the statement, the Managing Director, NPA, Mr. Habib Abdullahi, recognised that Lekki Port would contribute greatly to the Nigerian economy. After the signing of the agreement, he was quoted as saying, “The project will enhance the country’s economy because the Federal Government has identified the maritime sector as one that has a great potential of boosting the country’s revenue.”
The Commissioner for Commerce and Industry, Mrs. Olusola Oworu, who represented Lagos State at the occasion, said the existing ports in the country were full and the port facilities no longer had sufficient capacity. She said the project was conceived out of the need to have a modern and truly deep-sea port that could accomodate large vessels.
The Managing Director, Tolaram Group in Nigeria, Mr. Haresh Aswani, said the signing of the agreement demonstrated how the public and private sectors could collaborate to create a world-class infrastructure for Nigeria. He said, “The development of Lekki Port through this partnership exemplifies Nigeria’s readiness for Foreign Direct Investment.”
The statement noted that the Lekki Port would be the single largest private infrastructure investment in Nigeria. The port will be a world-class multi-purpose facility that will serve the West African region. It will be equipped with modern infrastructure, equipment and terminal services to attract and serve large shipping lines.
It said, “Facilities at the port would include a 1.5km long breakwater, 6km long and 14m deep approach channel, 670m diameter turning circle and 1.5km long quay wall. The port will accommodate three container berths, four liquid bulk berths and one dry bulk berth.
“In addition, two other significant milestones were achieved in the third quarter of 2012. First, LPLE awarded the engineering, procurement and construction contract to China Harbour Engineering Company, the world’s largest marine contractor. CHEC will be responsible for the design and construction of the port on a lumpsum turnkey basis.”
It added, “Secondly, the container terminal sub-concession was awarded to International Container Terminal Services Incorporated. ICTSI is a leading global container terminal operator, who will equip and manage Lekki International Container Terminal in line with international standards. They were both awarded their respective contracts after a rigorous international bidding process.”
Cornerstone of Financial Services
A survey of more than 1 000 global finance leaders undertaken by digital payment network Ripple shows that 72% of respondents believe they need to offer a digital asset solution to remain competitive.
According to Ripple, leaders from the banking, fintech, corporate and asset management sector have made it clear that the “digital asset revolution is happening now”.
“Digital assets are quickly becoming a cornerstone of financial services, underpinned by progressive regulation, growing interest from Tier-1 banks, a steady consumer shift from banks to fintech providers, and booming stablecoin adoption,” Ripple says.
The survey was conducted in early 2026 and the findings released in March.
Stablecoin Boon or Bane?
Ripple has experienced significant success in the stablecoin sector since launching its Ripple USD (RLUSD) stablecoin in 2024.
With a market cap of $1.56 billion, it is considered a major regulated player in the market.
No doubt the platform was pleased to learn through its own survey that financial leaders were most bullish about stablecoins.
Roughly three-quarters of respondents believed they could boost cash-flow efficiency and unlock trapped working capital.
Ripple noted that finance leaders were thinking about stablecoins as more than “just a new way to execute payments”; instead, they viewed them as effective tools for treasury management.
In March 2026, Ripple began testing a new trade finance model built around RLUSD in a bid to increase the speed of cross-border payments.
The pilot initiative, developed alongside supply chain finance company Unloq [https://unloq.com], is running on the XRP Ledger inside a testing framework developed by the Monetary Authority of Singapore.
The Asian city-state is one of the platform’s biggest growth markets.
The idea behind the project is to see whether stablecoin-based settlement can streamline trade finance, too often hampered by reliance on intermediaries and slow reconciliation.
The only potential drawback is that if the initiative takes off, the Ripple to USD price could be negatively affected.
Ripple has always championed its native XRP token as a bridge asset, the “middleman” in the process of a financial institution turning dollars in the US into pounds in the UK, for example.
Ripple converts dollars into XRP and then back into pounds.
If RLUSD can do exactly the same thing, questions will be asked about XRP’s relevance.
That is a bridge Ripple will have to cross if it gets to that point.
Tokenisation Partners
Another interesting finding from Ripple’s survey is that most banks and asset managers are seeking tokenisation partners to help execute their strategies.
Some 89% of respondents said digital asset storage and custody were top priority. “Token servicing/lifecycle management also ranks highly for banks at 82%, while asset managers place greater emphasis on primary distribution at 80%,” Ripple found.
The survey also revealed that just more than half of fintechs and financial institutions want an infrastructure provider that can offer a “one-stop-shop solution”. This rose to 71% among corporate financial leaders.
Ripple attributes this to institutions and firms wanting uncomplicated, cohesive systems.
Infrastructure Rules
In its final analysis, Ripple says companies across the board are looking for partners and solutions that are “secure, compliant, battle-tested and that enable growth and execution”.
“The message is clear: infrastructure decisions made today will shape competitive positioning tomorrow.”
No surprise that this is precisely where Ripple is placing much of its focus.
