Connect with us

News

Senate Calls for Urgent Security Boost in Taraba, Plateau Over Deadly Clashes

editor

Published

on

Nigerian senate

Abuja — The Nigerian Senate has called on security agencies to urgently boost surveillance and establish additional security posts along the borders of Taraba, Plateau, and Bauchi states in response to renewed violence and escalating banditry in the region.

This was stated during a plenary session after a motion of urgent national importance by Senator Isa Shuaibu Lau (Taraba North) because of a violent clash between farmers and herders that happened recently in Munga Lelau and Maigami villages in the Karim Lamido Local Government Area of Taraba.

The violent crisis which erupted on Friday, May 23, 2025., spilled over the weekend, resulting in between 60 to 70 deaths while 47 houses were razed. Over 200 citizens were also displaced. The Senate noted that it considers the violence as a series of connected reprisals and escalations between the farmers’ and herders communities.

The majority of the affected residents fled to makeshift camps in the surrounding areas of Karim Lamido and Lau, making things harder for an already burdened community.

Local lawmakers bemoaned the general worsening insecurity in Karim Lamido as it is close to Plateau and Bauchi states. They argued that due to the extensive lack of security in their area, the bandits had effectively turned Karim Lamido into a launch pad for their nefarious activities.

Senator Lau warned that continued attacks are crippling local economies, displacing communities, and posing a threat to regional peace and stability.

As part of its resolutions, the Senate called on the National Emergency Management Agency (NEMA) and the North-East Development Commission (NEDC) to urgently provide humanitarian relief and essential materials to those affected.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Investors Are Seeking To Refund And Toll President Tinubu’s Legacy Projects – Umahi

info

Published

on

By

IMG 20260515 WA0022.jpg

The Federal Ministry of Works witnessed another major milestone on Wednesday and Thursday, May 13 and 14, as the Federal Government signed Memoranda of Understanding and contract agreements for eight major road projects across the country.

The signing ceremony, which took place at the Ministry’s Headquarters in Mabushi, Abuja, brought together government officials, contractors and stakeholders in what was described as another bold step in President Bola Ahmed Tinubu’s drive to modernize Nigeria’s road infrastructure and strengthen the economy through strategic investments.

This was made known by Francis Nwaze, FIPMD
Senior Special Assistant to the Honourable Minister of Works (Media) .

Speaking during the ceremony, the Minister of Works, Senator Engr. David Umahi, CON, described the projects as part of the growing legacy of President Tinubu’s administration.

“Today is another event that adds to the great work that President Bola Tinubu is doing,” Umahi said.

The Minister revealed that the Federal Government has already procured the first 123 kilometres single carriageway of the Calabar-Ebonyi-Abuja Super Highway, stretching from Calabar through Ebonyi State to the Benue border. According to him, the newly signed section covers another 173 kilometres through Benue, Kogi and Nasarawa States, ending at the Oweto Bridge.

He further disclosed that government would soon procure the second carriageway of about 300 kilometres from Ndibe Beach to Oweto in Nasarawa State.

Umahi said the project would significantly reduce travel time between the South East and Abuja while boosting economic activities in the region.

“I want to say this without any apology the SouthEast People will reciprocate what the President has done for the people. What happened in 2023 was an accident of history and in 2027, we will show our appreciation,” he stated.

“I was a governor, I was a deputy governor and we never witnessed federal government projects in SouthEast but today, we may not be the first, or the second or the third but definitely, we are not the last.”

“So, we are very proud of what the president is doing in the entire SouthEast and I pledge on behalf of the entire SouthEast that we are going to reciprocate because with this project, any part of the SouthEast you are, you will be in Abuja in 3 to 4 hours. And this is a plus to our commercial activities.”

The Minister noted that five companies competed for the project before Infouest emerged successful, adding that the same transparent procurement process was adopted for the Sokoto-Badagry Super Highway project.

Umahi also spoke on the progress of the Lagos-Calabar Coastal Highway, saying the project had moved from skepticism to national admiration.

“When we started the coastal highway, 750km, people did not believe that it would be a reality. And some that knew that it would be a reality, out of envy and jealousy, started to criticize the project,” he said.

“But today, the entire country is waving their flags for President Bola Tinubu because that project is a beauty to behold. It is an economic catalyst for the nation, Nigeria.”

According to him, by November, motorists will be able to travel from Ahmadu Bello Way in Lagos through Sections One, Two and part of Section Four to Ondo State on completed portions of the road.

He added that Sections 3A and 3B in Cross River and Akwa Ibom States are ongoing, while Section Five covering 165.6 kilometres has also commenced.

Describing the coastal highway as more than a road project, Umahi said it was a long-term national investment designed to last for decades.

“This is not just a road project. I have always said that this is an investment that the President is doing, and this is a road that is going to last for another hundred years with no maintenance,” he said.

He commended HITEC Construction Company for what he described as speed, capacity and commitment to delivery, noting that the company has built a reputation for constructing up to one kilometre of road per day.

Umahi also explained that the cost of the projects include extensive drainage systems, reinforced pavement, concrete works and other durable engineering components.

“And for those who are asking us about cost per kilometer, we will be talking now at an average cost per kilometer, which is about N7.5b for a standard carriageway,” he explained.

“But this one is even with a lot of road architecture. You see the concrete poles, the drainage, the culverts, the reinforcement, the pavement. So it is not just a road. This is an investment.”

The Minister further revealed that investors are already showing strong interest in the completed sections of the Lagos-Calabar Coastal Highway.

“Just like in section one that we finished in Lagos, a lot of investors are begging to be given that section for them to toll and then give back our money even before they start tolling,” Umahi disclosed.

“So it is an investment, and it is only a person like President Bola Tinubu that can do this.”

On the Sokoto-Badagry Super Highway, Umahi said Section IV covering the Oyo axis spans 360 kilometres, explaining that the project demonstrates government’s determination to spread development across all geopolitical zones.

“The President is President for the entire country. His four legacy projects are dotted throughout the six geopolitical zones,” he said.

He also highlighted progress on the Akwanga-Jos-Bauchi-Gombe-Biu-Maiduguri Road project, explaining that President Tinubu insisted on changing the original asphalt design to concrete pavement to guarantee durability.

“The President said, ‘No, we want to do concrete road so that when we build it, it will last for a hundred years,’” Umahi stated.

The Minister said the Federal Government would provide 30 percent counterpart funding for the projects, while 70 percent would be sourced through loans. He added that tolling and strategic land acquisition along the roads would ensure long-term returns on investment.

“We neither review timing nor rates. The moment we sign, as we have signed now, that is the end of the matter,”.

The four major legacy project sections signed include:

1. Calabar-Ebonyi-Abuja Superhighway, Section II: Ebonyi State Border – Benue – Kogi – Nasarawa States
2. Sokoto-Badagry Superhighway, Section IV: Oyo State
3. Lagos-Calabar Coastal Highway, Section V: Akwa Ibom State
4. Dualisation of Akwanga-Jos-Bauchi-Gombe-Biu-Maiduguri Road, Section II: Gombe – Biu

Other projects signed on Thursday, May 14, include:

1. Reconstruction of Mando (Kaduna) – Birnin Gwari Road in Kaduna State by Messrs J. Patel and Sons Nigeria Limited
2. Dualisation of Ibadan–Ijebu Ode Road in Oyo and Ogun States by Messrs JRB Construction Company Limited
3. Construction of Osogbo–Ikirun–Akoda Road in Osun State by Messrs Truecrete Solutions Limited
4. Construction of Osogbo–Iwo–Ibadan Road in Osun and Oyo States by Messrs Peculiar Ultimate Concerns Limited

Earlier in his remarks, the Permanent Secretary of the Ministry, Mr. Rafiu Olarinre Adeladan, described the signing ceremony as the successful conclusion of the procurement process and the formal commencement of project implementation.

Responding on behalf of the contractors, the Chief Executive Officer of HITEC Construction Company, Dany Abboud, assured the Federal Government of timely delivery and quality execution.

“Our commitment is always on the table. We are committed to delivering those jobs before the thirty-six months that were awarded.

“We commit to delivering a standard even better than what we have done on Coastal Highway Section One.” Abboud said.

Continue Reading

Business

NEM Insurance declares N7.52bn dividend as shareholders applaud strong 2025 performance

info

Published

on

By

D2f408b8 bbdd 4a40 9581 8cb7e9d989cf.jpeg

From left:  Idowu Semowo, Executive Director, Finance and Investment, NEM Insurance Plc; Ifunanya Iwuagwu, Company Secretary/Legal Adviser; Andrew Ikekhua, Managing Director/CEO, NEM Insurance Plc; Tope Smart, Group Chairman; Daphne Dafinone, Director, and Kelechi Okoro, Non-Executive Director, during the 56th annual general meeting of NEM Insurance Plc held in Lagos on Thursday 14-5-2026.

The Board of Directors of NEM Insurance Plc has recommended a dividend payout of ₦7.52 billion to shareholders for the 2025 financial year, following strong growth recorded across key financial indicators.

The Board disclosed this during its 56th Annual General Meeting held in Lagos yesterday, where the Group Chairman, Tope Smart, presented the Annual Report and Financial Statements for the year ended December 31, 2025.

The dividend payout of N1.50 per ordinary share, amounting to N7.52 billion, subject to shareholders’ approval and applicable withholding tax deductions.

At the meeting, shareholders commended the board and expressed satisfaction with the company’s steady returns and strong performance, despite a tough business environment, noting that the proposed dividend reflects management’s commitment to rewarding investors.

Speaking on the company’s performance, Smart disclosed that insurance revenue grew by 56 per cent from N97.9 billion in 2024 to N152.3 billion in 2025, while Investment income also rose significantly by 70 per cent to N12.9 billion from N7.6 billion recorded in the previous year.

He added that the company’s subsidiaries, NEM Asset Management Company Limited and NEM Health Limited, did quite well and made positive contributions to the Group’s earnings during the year under review.

On claims settlement, Smart stated that claims expenses increased to N49.8 billion in 2025 from N31.3 billion in 2024, reflecting the company’s commitment to meeting obligations to policyholders promptly.

According to him, the Group recorded a profit before tax of N27.9 billion. He, added that the company maintained a strong financial position as financial assets increased by 38 per cent, while total assets and total equity rose by 49.8 per cent and 29 per cent respectively.

As part of its expansion drive, Smart revealed that plans to establish a life assurance company were at an advanced stage and would soon be unveiled.

Also speaking at the AGM, the Managing Director of NEM Insurance Plc, Andrew Ikekhua, said the company’s balance sheet remained robust, reflecting strong capitalisation and preparedness to operate effectively under the new regulatory capital regime introduced by the Nigerian Insurance Industry Reform Act 2025.

He noted that the company also received several awards and recognitions in 2025, including Best General Insurance Company of the Year; Outstanding Performance in Claims Settlement Award by Risk Analyst; and the Pearl Award in the Financial Services ( Insurance Sector) for the year 2025.

The post NEM Insurance declares N7.52bn dividend as shareholders applaud strong 2025 performance appeared first on Business Today NG.

Continue Reading

Trending