Business
Food Security: Expert Harps On Improved Cassava Processing
A prominent agricultural economist and researcher, Dr. Adekunle Stephen Toromade, has stated that modern cassava processing would enhance food security and elevate Nigeria to greater economic heights.
Toromade emphasised the need to address occupational hazards and economic challenges faced by cassava processors to improve productivity and tackle global food security issues.
He explained that the cassava processing industry is plagued by occupational hazards that severely affect the health and economic well-being of processors, contributing to widespread poverty.
He stressed that addressing these hazards and challenges is crucial for enhancing productivity and sustainability.
“Cassava processing is crucial for many rural communities in Nigeria, involving tasks such as peeling, grating, fermenting, and drying to produce essential food products like garri, fufu, and tapioca.
“Despite its importance in the agricultural value chain, the industry is burdened by occupational hazards that severely affect the health and economic well-being of processors, contributing to widespread poverty”, Toromade said.
While discussing a comprehensive study to examine these challenges, Toromade noted that his research focused on the difficulties faced by cassava processors in three local government areas known for their high cassava production.
“Food security in Nigeria continues to deteriorate. Studies like this provide valuable insights into how improving conditions for food processors can help tackle food insecurity.
“One of the most striking findings of the study is that cassava processing is predominantly carried out by women. Many of these women, who are the primary breadwinners for their families, face numerous occupational hazards that exacerbate their poverty status.
“The study revealed that 46% of cassava processors are moderately poor, with a significant portion—about 69%—of their income spent on medical treatment and other family expenses, further deepening their poverty.
“Additionally, smoke inhalation during cassava processing ranked as the most prevalent occupational hazard for the processors.
“Studies have shown that smoke inhalation can severely impact both the health and productivity of processors. Chronic exposure to smoke can lead to respiratory issues and other serious health conditions, diminishing workers’ efficiency and livelihoods.
“This health decline results in high medical expenses, further straining the already limited financial resources of these processors. Factors such as larger household sizes and other health issues related to occupational injuries exacerbate their poverty”, Toromade added.
In addition to this technological advancement, Toromade emphasized the pressing need for extensive training programs to educate cassava processors on occupational safety.
Strengthening extension services to offer regular training on best practices and safety precautions can greatly improve workers’ health and productivity.
He said Government and NGO interventions are essential to make automated food processing machines more affordable, as well as providing subsidies to make protective gear more accessible.
Enhancing healthcare access to provide timely treatment for occupational injuries is also crucial for ensuring the well-being of these workers.
In his study, Toromade utilized blockchain, AI, IoT, and big data for real-time monitoring of critical parameters such as temperature, humidity, and location in agricultural systems.
This approach enhanced food supply chain management and optimised conditions in the food supply chain, particularly in cassava processing, reducing both waste and energy loss.
Toromade’s work has significantly contributed to improving the quality of life for cassava processors and potentially reducing their economic losses from excessive medical expenses.
Beyond addressing occupational hazards, implementing these recommendations to protect this essential workforce can significantly contribute to poverty alleviation in rural areas and enhance the economic prosperity of cassava processors.
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Banking/ Finance
Ripple Survey Reveals Appetite for Digital Assets
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.
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