Business
Buhari Lauds China For Addressing Nigeria’s Infrastructural Deficits
President Muhammadu Buhari has applauded the Chinese government for addressing Nigeria’s infrastructural deficits in the area of roads, rails and power.
The President gave the commendation when he received the Board of Directors of the Nigerian Economic Summit Group at the State House, Abuja, on Monday.
According to him, since the nation’s independence, no country, such as China, has exhibited commitment towards Nigeria’s infrastructural development.
He, therefore, commended the Chinese government for its support in improving infrastructure in Nigeria.
“We send our gratitude to the Chinese for all their support to Nigeria. Since Independence, no country has helped our country on infrastructural development like the Chinese.
“In some projects, the Chinese help us with 85 per cent payment, and soft loans that span 20 years.
“No country has done that for us as far as I can remember,’’ he said.
According to him, his administration remains resolute and focused on delivering on the three-pronged promises to the people.
The focus are securing the lives and properties of Nigerians, halting the pillage of the economy by corrupt public officials and creating employment opportunities for the youths.
He said the initial economic challenge posed by recession was already dwindling, with the economy smarting out and posting better results on falling inflation rates, higher foreign reserve and better ranking on ease of doing business.
“If you look critically into the 2018 budget, we have already taken into account key issues of more stable electricity, construction of roads and rails, and the airport concession,’’ he said.
The President said the government would work more to accelerate and increase momentum in agriculture, power, gas, manufacturing and processing.
He assured Nigerians that the rising attacks on communities by herdsmen would soon be brought under control by security forces deployed to the vulnerable areas across the country.
He said the unfortunate incident of attacks, which had resulted in loss of lives and properties, had already brought sorrow and hardship on many Nigerians.
Buhari said the government would continue to strengthen its relationship with the NESG, especially in integrating its recommendations into policies for improving the livelihood of all Nigerians.
In his remark, the chairman of the NESG Board of Directors, Mr Kyari Bukar, commended the government for the “pragmatic approach’’ in engaging with citizens of Niger Delta region which had translated into steady rise in oil production.
“Your Excellency, we salute your courage in providing support to the states that have had fiscal challenges.
“We recognise that without the intervention of the Presidency, many state governments would have been unable to pay salaries last year,’’ he said.
Bukar said the outlook on the economy remained upwardly positive, projecting a 3.5 per cent GDP growth.
He urged the President to pay more attention on the herdsmen attacks, which could reverse the gains recorded in the agricultural sector.
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.
