Business
Minister Tasks Contractors On Effective Project Handling
The minister of Works, Housing and Urban Development, Hassan Muhammed Lawal, has called on contractors handling federal highway projects to ensure that they execute their jobs effectively.
This call came even as the minister has set up machinery that will carry out proper supervision of ongoing works.
Muhammed Lawal who made the call at the signing of contract agreement for the newly approved road contracts in Abuja, disclosed that a total of N92.28 billion had been accessed and that several requests for payment were being processed for payment to contractors.
“In the roads design, construction and rehabilitation works, N92.28 billion have been accessed and that several requests for payment were being processed” he said.
The minister reiterated the importance of supervision on road contract as it motivates the contractors, using the opportunity to appeal to the consultants, field engineers and controllers of works to be on their toes.
According to him, it will ensure that projects are effectively supervised and monitored.
“In our own administrative level, we do intervene by periodically going out to supervise these projects. The field engineers and the consultants are in a better position to ensure that contractors are doing the jobs within specification, and also effectively” he said.
He also appealed to Nigerians worried about the condition of the highways to appreciate the fact that the terrible condition of the highways predated this administration, saying that it dates back to 20 to 30 years and as we all know, it is easier to spoil than to repair.
With the effort of the present administration, all hinds will be on deck, as the ministry will leave no stone unturned in ensuring that these roads are fixed in perfect condition.
Responding, the minister of state in the ministry, Grace Ekpiwhue, warned that standards would not be compromised and encouraged contractors to ensure highest standard to guarantee long life support to these roads.
“A lot of money is being committed to these projects and we expect that when the road is done, it should be able to serve us as long as possible before there is need for maintenance”, she said.
Speaking on behalf of the contractors, managing director, Impress Bakolori Nigeria Plc, Carlo Pepe, promised that they would be committed to the completion of the projects in terms of quality and relationship with community and Nigerians in general.
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.