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BREAKING: Governor Simon Bako Lalong loses senatorial bid to PDP

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Simon Bako Lalong, Plateau State Governor and Director General of the APC Presidential Campaign Council has lost his bid to be voted into the senate.

AVM Rtd Napoleon Bali of the PDP defeated the incumbent governor of Plateau State and Campaign DG of the APC Tinubu Shetima ticket Simon Lalong

Napoleon Bali of the Peoples Democratic Party Polled 148, 844 to defeat his closest rival Gov. Simon Lalong of the All Progressive Congress Who Polled 91, 674.

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2027: Our projects already campaigning for us – Wike

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Minister of the Federal Capital Territory, Nyesom Wike, has said the ongoing delivery of infrastructure projects across Abuja serves as the strongest campaign message ahead of the 2027 general elections.

Speaking while inspecting the Arterial Road N16 and the Tunga Madaki–Zuba road projects on Wednesday, Wike maintained that political activities would not distract his administration from completing key development projects in the territory.

According to him, the administration’s achievements provide a clear record of performance that can be presented to Nigerians.

He said, “voters are more interested in tangible results than political rhetoric, stressing that the government has fulfilled many of its promises through ongoing infrastructure development”.

The minister expressed satisfaction with the progress of the Arterial Road N16 project, a major route linking Jahi, Gwarimpa and Karsana.

He noted that the contractor, CBC Global, had assured the government that the road would be completed by January, adding that adequate funding would be provided to ensure the target is met.

Wike also commended the work being carried out on the 7.3-kilometre Tunga Madaki–Zuba road by China Civil Engineering Construction Corporation.

He said the company had demonstrated commitment despite weather-related challenges and remained on track to complete the project by December.

The FCT minister disclosed that approval had been granted for the relocation of electricity poles along the route to pave the way for the installation of streetlights.

He further praised Chinese construction firms handling projects in the territory, noting that many begin work without waiting for mobilisation funds because of their confidence in the government’s ability to meet contractual obligations.

He assured residents that funding would continue to be made available for critical projects and urged contractors to maintain high standards and meet agreed deadlines.

Wike added that regular inspections by the FCT Administration are aimed at ensuring timely completion of projects under the Renewed Hope Agenda of President Bola Ahmed Tinubu.

The inspections, he said, form part of efforts to accelerate infrastructure development across the Federal Capital Territory ahead of future electoral cycles.

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Sovereign Trust Insurance Boost Asset Base by 43% to ₦40.47 billion in H1 2026

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BY NKECHI NAECHE-ESEZOBORSovereign Trust Insurance Plc has released its unaudited financial results for the half-year ended June 30, 2026, showcasing significant balance sheet expansion alongside a contraction in core underwriting revenues.

According to notice filed by the company on the floor of Nigerian Exchange Plc, to all  dealing members and stockbrokers, Sovereign Trust the group’s total assets grew by 43% surging from ₦28.31 billion in June 2025 to ₦40.47 billion in June 2026.

The insurer equity base also went up from ₦12.49 billion to ₦23.20 billion expanding by 86%, signaling robust capital adequacy and underlying balance sheet strength.

Insurance service expenses for the period under review dropped by 51% from  ₦19.55 billion to ₦9.50 billion while net expenses from reinsurance contracts appreciated to ₦11.01 billion, impacting overall operational margins.

Investment returns rose sharply from 1.03 billion in H1 2025 to  ₦2.96 billion in same time of 2026, indicating 188 percent increase, demonstrating effective asset management in a high-yield environment.

While Earnings Per Share stood at 5 kobo for the group (6 kobo at the company level.

Overall, the H1 2026 performance highlights Sovereign Trust Insurance’s resilience in fortifying its capital position and leveraging investment returns to buffer operational shifts in a dynamic macroeconomic environment.

The post Sovereign Trust Insurance Boost Asset Base by 43% to ₦40.47 billion in H1 2026 appeared first on Business Today NG.

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