News

Plateau earmarks N700m for construction of Speaker’s resident in 2023 budget

Published

3 years ago

April 7, 2023

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The Plateau State government has earmarked N700 million for the construction of the residents of the Speaker and Deputy Speaker of the State House of Assembly located at St Pirans in Jos North Local Government Area of the state.

The Commissioner, Ministry of Budget and Economic Planning, Plateau State, Mr Dan-Philip Hirkop, disclosed this on Thursday during the 2023 budget breakdown, held at the Joseph Gomwalk Secretariat, Jos, the Plateau State capital.

He said N700 million was also set aside for the renovation of the Speaker’s Guest House, Hwolshe in Jos South Local Government Area of the state.

“N700,000 has been earmarks for the construction of Speaker and d Deputy Speaker resident at old Bukuru road, St. Pirans, while another N700,000,000 renovation of 6N0 and speaker Guest House, Hwolshe.

“Tourism, culture and hospitality as one of the revenue generation sub-sector, the rescue administration earmarked N100,000,000 of the total capital estimate for projects.”

He explained that the administration sub-sector Gulf N13 billion where N250 million would be used for procurement of 1N0 Armored Personnel Carrier while N150 million would be used for procurement of security gadgets among several other items.

Hirkop explained that ranches under the National Livestock Transformation under Federal Government programme was excluded in the 2023 budget not because the state in no longer interested but the programme would be determine by Federal Government.

He noted that Governor Simon Lalong has secured the concern of President Muhammadu Buhari to commission some projects in the state at the end of April, 2023.

Hirkop explained that among the project billed for commissioning includes, the Plateau State High Court complex, British American fly over and dualisation to Lamingon road junction among others which have reached state.

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News

Osun poll: ‘IGP ordered our party member’s detention’ — Accord Party alleges

Published

2 hours ago

August 4, 2026

Preport

The spokesperson for the Accord Party Governorship Campaign Council in Osun State, Pelumi Olajengbesi, has alleged that the Inspector-General of Police, IGP, Mr Olatunji Disu ordered the continued detention of a party member, Popoola Alaba, despite investigators allegedly finding no evidence linking him to any offence.

Olajengbesi made the allegation during an interview on ARISE News while reacting to Alaba’s arrest amid political tensions ahead of the Osun governorship election.

According to him, the allegations levelled against Alaba, particularly claims that he was arrested with firearms, were not supported by investigators handling the case.

“Those allegations are embarrassing to the knowledge of the Nigerian Police. The man that was arrested was arrested with nothing. He was arrested at the point where he was sensitising his supporters,” Olajengbesi said.

He argued that if the police genuinely recovered firearms or any incriminating items from the suspect, such evidence should have been made public.

“The Nigerian Police should have ordinarily come out and shown to the public the evidence or whatever material they had relating to possession of firearms,” he added.

Olajengbesi further claimed that members of the campaign council met with officers handling the investigation, who allegedly informed them that there was no petition against Alaba and that nothing incriminating was recovered from him.

“We’ve met with the officers in charge of the investigation and they have said to us that there’s no petition against the man and nothing was found on him, but it is just very unfortunate that they have instructions from the Inspector-General of Police to detain him until further notice,” he alleged.

Describing the development as troubling, the Accord Party spokesman called on the Nigeria Police Force and the media to publicly disclose any evidence supporting the allegations against Alaba.

“That’s a sad experience we have today in Osun State and I challenge the Nigerian Police, and I challenge the press, to investigate or come out and show to the public the firearms or the unlawful possession they claimed they found with him,” he said.

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Business

Rex Insurance Meets NAICOM Minimum Capital Requirement Under NIIRA 2025

Published

3 hours ago

August 4, 2026

Preport

BY NKECHI NAECHE-ESEZOBOR—Rex Insurance Limited has successfully met the new Minimum Capital Requirement (MCR) prescribed by the National Insurance Commission (NAICOM) under the Nigerian Insurance Industry Reform Act, (NIIRA) 2025, reinforcing its financial strength, enhancing its underwriting capacity and reaffirming its unwavering commitment to policyholders and stakeholders.

The announcement follows NAICOM’s publication of insurance companies confirmed to have complied with the new capital requirement.

A statement released today by the company, said the achievement reflects the disciplined financial management, strong corporate governance, and strategic vision that have positioned Rex Insurance Limited as a resilient organization committed to delivering greater value to customers while supporting national economic growth.

“It also marks the beginning of a new phase in the Company’s journey, one focused on sustaining capital strength, accelerating profitable growth, enhancing operational excellence, and delivering superior customer value.

Commenting on the milestone, the Managing Director/Chief Executive Officer of Rex Insurance Limited, Mrs. Ebelechukwu Nwachukwu, said: “Meeting the new Minimum Capital Requirement is a significant milestone in our journey and demonstrates the resilience of our business as well as the confidence of our shareholders in our long-term vision. It also reinforces our ability to honour our commitments to policyholders while positioning us for sustainable growth in an evolving insurance landscape.”

She further emphasized “Our recapitalization marks the beginning of an exciting new chapter for Rex Insurance. It is not an end, but a strategic foundation for sustainable growth and long-term value creation. With a stronger capitalbase, we are well equipped to increase our underwriting capacity, elevate customer experience, and deepen our investment in technology, innovation, and operational excellence.

“This enhanced financial strength enables us to provide smarter insurance solutions that respond to the evolving needs of our customers, deliver greater value to our stakeholders, support the advancement of Nigeria’s insurance industry, and maintain our unwavering commitment to prompt claims settlement to our policyholders”

Rex Insurance commended NAICOM for its leadership in strengthening the insurance sector through the recapitalization exercise and remains committed to supporting initiatives that promote a more resilient, competitive, and inclusive insurance market.

The insurer expressed its appreciation to its shareholders, Board of Directors, employees, customers, brokers, and business partners for their unwavering support and confidence, which have contributed to this important achievement .

“As the industry enters a new phase of growth, Rex Insurance’s focus now shifts from achieving capital adequacy to sustaining capital strength through disciplined execution, profitable growth, continuous innovation, and exceptional customer experience.”

The Company remains committed to delivering reliable insurance solutions, honouring its promises to policyholders, and creating sustainable value for all stakeholders while strengthening its position as a trusted insurance partner

About Rex Insurance Limited
Rex Insurance Limited (Rex) is licensed by the National Insurance Commission (NAICOM) to offer the full range of general and special risks insurance products to the insuring public. With decades of experience in the Nigerian market, Rex Insurance has an enviable reputation for technical competence and financial strength.
With a vision of being the “Preferred Nigerian Insurance Company”, our strategic direction within the next 5 years is to focus on growth and profitability with the aim of growing the company’s gross premium written and be amongst the Top-Top-Tier general insurance companies in the market.

Operating from twelve (12) business locations nationwide to ensure maximum outreach and
accessibility, we have an unwavering dedication to our core values of Resilience, Efficiency,
eXellence, Integrity & Teamwork (REXIT).

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