Business
Wike Calls For Investments In Science Research Institutions
Governor of Rivers State, Chief Nyesom Wike has stated that investments in Science Research Institutions will help in reviving the country’s economy.
Wike made the call when the Minister of Science and Technology, Dr Ogbonnaya Onu paid him a courtesy visit at Government House, Port Harcourt recently.
Noting that a diversified economy would create employment opportunities for the people, the governor stressed the need to sustain the development of technology for the growth of the country.
He said: “I urge that we begin to use research reports from science institutes to attain the desired growth.
“The development of relevant machinery and equipment will help create jobs locally and enhance the economy”.
The Governor lauded the Minister of Science and Technology for establishing the chemical equipment institute in Port Harcourt.
He said that the Minister has exhibited maturity by siting the project in Rivers State, pointing out that other ministers would have been influenced by poltical considerations.
The Governor directed the Administrator of Greater Port Harcourt City Development Authority to liaise with the Ministry of Science and Technology for allocation of land for the institute.
Earlier, the minister said the chemical equipment and machinery development institute is a part of the process to build knowledge based economy that will sustain the country.
Onu said that the over reliance on oil and gas has made it difficult for the country’s economy to grow in view of the emerging realities.
“The decision has been made to make Nigeria an innovation driven economy. We are determined to work hard to ensure this succeeds.
“If there is a problem with oil, we will still strive. For us to do this, we need to build capacity, look inwards and use our nation’s resources in ways that will improve our economy”, he stated.
The Minister noted that the state plays a very important role in the chemical and petrochemical sector of the nation’s economy.
“We want the institute to be a centre of excellence in the chemical and petrochemical sector of the nation’s economy. The results of the research will be available to the private sector. We will be in a position to grow our economy”, he said.
Chris Oluoh
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.
