Business
Trans-Saharan Gas Pipeline Project To Gulp $400m
The Federal Government has earmarked $400 million in the 2013 budget to fast track the Trans-Saharan Gas Project. The Acting Director-General, Infrastructure Concession Regulatory Commission, Dr Ghaji Bello, made the disclosure yesterday in Abuja.
He spoke at the opening of a two-day technical workshop on Presidential Infrastructure Championship Initiative (PICI). Bello said the project would foster and transform the economy of African countries and impact on the lives of the citizens.
The workshop organised by The New Partnership For Africa`s Development (NEPAD) has as its theme, “PICI: A Panacea for Sustainable Growth and Development for Africa”.
“As a sign of its commitment, the Nigerian Government has made a provision of $400 million in the 2013 budget in order to move the project up to the next stage. “We are not just doing project for the sake of doing project. We are doing it to advance development, progress and to impact on the lives of the citizens of our continent,” he said.
He stated that three countries, Nigeria, Niger Republic and Algeria, were involved in the project, adding that the project would also involve the running of gas pipelines from Calabar to Niger Republic into Algeria and then to Spain.
He said the project was critical to the economic transformation of the countries adding that “Africa needs to drive its development”.
Bello, however, urged African countries to make infrastructure a priority, “until the challenge is tackled the trajectory of Africa’s growth will remain slow”.
In his remarks, the Chief Executive Officer, NEPAD Planning and Coordinating Agency (NPCA), South Africa, Dr Ibrahim Mayaki, said PICI was a continental infrastructure aimed to develop the continent and would drive regional development for the next 27 years (up till 2040).
PICI is a project to act as a catalyst for the rapid and sustainable development of the region and to spur continental infrastructure development as initiated in 2011.
The Trans-Saharan gas pipeline, which is also known as NIGAL pipeline and Trans-African gas pipeline, is planned to transfer natural gas from Nigeria to Algeria and to Spain. Seen as an opportunity to diversify the European Union’s gas supplies, the idea of the Trans-Saharan pipeline was first proposed in the 1970s.
On January 14, 2002, the Nigerian National Petroleum Corporation (NNPC) and Algeria national oil and gas company (Sonatrach), signed a memorandum of understanding for preparations of the project.
The Minister of State for Works, Amb Bashir Yuguda, has restated Federal Government’s commitment to the actualisation of the Trans-Saharan Road Projects (TRP) to enhance socio-economic activities among the states. He gave the assurance yesterday in Abuja when he received a delegation from the Algerian Embassy, led by the Secretary General of Trans-Saharan Road Liaison Committee, Mr Ayadi Mohammed.
Yuguda said that Nigeria was aware of the value of the road which passes through six nations. “Trans-Saharan Highway with a total length of 4,680 kilometre traverses six countries in the Sub-Saharan region, namely Nigeria, Niger Republic, Chad, Mali, Algeria and Tunisia. “The main axis of the project starts from Lagos on the West Atlantic Coast and terminates at Algiers on the Mediterranean Coast of North Africa.
“The construction of the roads would further promote trade, unity and facilitate easy transportation of Goods and services across the nations,” he said.
Yuguda assured the team of the Federal Government’s support to the nation for the actualisation of the road. He also said that Government had done feasibility studies on the road and had put into consideration the concessions for the trans-Saharan roads to enhance speedy completion.
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.