Niger Delta

Anchor Insurance Declares Dividend To Shareholders

Published

12 years ago

March 10, 2014

Akwa Ibom State-owned
Anchor Insurance Limited has declared a dividend of N2.5k per share for shareholders for the year ended December 31, 2012.
This is an increase of 25 per cent over the dividend paid in the previous year.
Its Chairman, Board of Directors, Mr Senas Ukpanah, made the declaration during the company’s 23rd Annual General Meeting last Thursday in Uyo.
Ukpanah said that the increase in dividend payment was in fulfillment of the promise made earlier by the board to its shareholders.
He said that the board and management would work hard to remain profitable and make the company a rewarding institution to investors.
”I am indeed pleased to inform you that the board of directors is recommending a dividend of N2.5K per share, being an increase of 25 per cent dividend.
“This is an indication that the board kept to the promise made at this gathering last year to improve on the dividend payment,” he said.
The chairman also said that in spite of challenges in the industry, the company recorded growth in some key areas.
He said that gross premium increased by 60 per cent from N1.144 billion in 2011 to N1.825 billion in 2012.
Ukpanah said that the total claims which the company paid amounted to N230.52 million against N164.61 million paid in 2011.
“Total underwriting income stood at N1.15 billion in 2012 against N687 million in 2011, an increase of 68 per cent in the period.
“Investment income increased by 95 per cent from N60 million in 2011 to N117 million in 2012,” Ukpanah said.
He said that inflation averaging 12.24 per cent in 2012 was another major challenge facing the insurance industry in the country.

Akwa Ibom Commissioner for Health, Dr Ememabasi Bassey (left), presenting keys of a tricycle to a focal person of the World Bank malarial control programme, Mr Monday Ikon in Uyo, recently. Photo:NAN

Niger Delta

Warri Delineation: Ekpemupolo Seeks Peaceful Impasse Resolution

Published

1 day ago

June 12, 2026

The Tide

Dr. Government Ekpemupolo, also known as Tompolo, has called for calm and a peaceful resolution of the ongoing impasse in the Warri Federal Constituency.

Ekpemupolo, a High Chief in Ijaw land, who made the call in a statement in Warri, noted that the ongoing impasse arose from the failure of the Independent National Electoral Commission (INEC) to complete the delineation of wards in the constituency.

He appealed that the situation must not be allowed to be hijacked or degenerate into violence of any sort.

“I join all well-meaning Nigerians to call for a peaceful resolution. The Ijaw nation has from time immemorial been known for their peaceful ways and we cannot deviate from our history.

“The current political situation arising from the failure of INEC to complete the delineation of wards in the Warri Federal Constituency and mass action must not be allowed to be hijacked or degenerate into violence of any sort.

“Therefore, I am calling for calm, no matter the situation. We must all join hands in seeking a peaceful resolution to this impasse”, he said.

Ekpemupolo, who is also the Chairman, Tantita Security Services Nigeria Limited (TSSNL), while urging INEC to do the right thing and restore the peace in Warri and environ, called for an urgent meeting of community leaders to device a way forward.

“We call on the people of Warri (whether Ijaw, Itsekiri or Urhobo) to be calm and wait patiently for INEC to do the right thing”, he said.

He recalled that since on Monday, there had been mass action by peaceful women and youths from the various Ijaw communities in Delta, occupying oil and gas installations in the Escravos and Warri river areas.

He added that the peaceful action had led to calls from various quarters, particularly from well-meaning Nigerians, seeking for a peaceful resolution of the imbroglio.

Niger Delta

Progress In 21-Km Nembe-Brass Road Project Impresses Diri … As Contractor Pledges December Delivery Date

Published

1 day ago

June 12, 2026

The Tide

Bayelsa State Governor, Senator Douye Diri, has expressed fulfillment with the ongoing construction of the 21km phase one of the Nembe-Brass road projects in the state’s eastern senatorial district.

The Governor described the project as a dream come true for him and the people of Nembe and Brass Local Government Areas.

Senator Diri, who inspected the expansive construction work on Tuesday, said the road, which cuts through the mangrove forest and rivers, was a testament to his administration’s determination to connect hitherto unreachable riverine communities by road despite the difficult terrain.

Led by the Commissioner for Works and Infrastructure, ESV Moses Teibowei, Diri first inspected the asphalted 10km portion of the road with about three bridges, before crossing the river on a barge to see the extent of work on another 10km that had been stabilised.

Diri in astatement by his spokesperson, Mr. Daniel Alabrah, was quoted as noting that it was one thing to have a vision and another to have the will to execute it.

Alabrah also quoted the Governor as saying that the project had been well funded since it commenced and assured that his administration will complete it on the date stated by the contractors.

On the second phase of the project undertaken by the federal government, the State Chief Execution appreciated President Bola Tinubu for awarding the contract and for ensuring that it is running simultaneously with the phase one being done by the state government.

“I feel accomplished. It is one thing to have the vision and another thing to have the will to do it. Being a Bayelsan, the importance of this road cannot be over-emphasised. This is what the people have been yearning for and I’m satisfied that the people are happy about the project.

“On funding, we have never disappointed the contractor and I believe they will not disappoint us. By the time the road is completed, it will reduce cases of sea piracy.

“Let me sieze this opportunity to thank President Bola Tinubu. There was another President when we proposed this road. We wrote, nobody answered us then. But this President did not only answer us, he awarded the contract for the second phase”, Diri said.

Also speaking, the Commissioner for Works and Infrastructure, Mr. Teibowei, expressed satisfaction with the level of work so far done, stressing that the most difficult aspect of the job had been done.

He said the fifth bridge being constructed will be completed in three months while assuring that the road will be finished within the stipulated time.

The Setraco Construction Company South-South Area Manager (Bayelsa and Rivers), Mr. Jose Cosme, said phase one of the road will be completed in December 2026.

Ariwera Ibibo-Howells, Yenagoa

Niger Delta

NDDC Clears Compensation Hurdle, Accelerates 3.7Km Okrika-Borikiri Bridge Project

Published

1 day ago

June 12, 2026

The Tide

The Niger Delta Development Commission (NDDC) has said construction work on the 3.75-kilometre Okrika-Borikiri Road and bridge project in Rivers State will gather momentum following the payment of compensation to affected property owners at the Borikiri axis of the project.

Speaking during an inspection of the project site in Okrika, the NDDC Assistant Director, Utilities, Infrastructure Development and Waterways (UIDW), Martins Isichei, disclosed that compensation issues that had stalled progress on the Borikiri alignment had been resolved.

According to him, the Commission has settled compensation claims for property owners affected by the project corridor and is awaiting the evacuation of residents before commencing demolition of structures within the right of way.

“The NDDC has paid compensation to property owners along the Borikiri alignment, and we are expecting the evacuation of residents there before we commence demolition of structures in the right of way”, he said.

Isichei noted that work on the Okrika section of the project had recorded significant progress despite challenges encountered on the waterways.

He explained that shortly after work resumed, a vessel collided with an existing pile, forcing engineers to redesign part of the bridge structure.

“When we resumed work on the site, a vessel collided with an existing pile. We had to re-profile the bridge and develop a new design to circumvent the damaged pile”, he said.

The NDDC official expressed optimism that the project would ease traffic congestion along the refinery road corridor and significantly reduce travel time between Okrika and Port Harcourt upon completion.

He explained that the project comprises three major bridge structures: the 180-metre Kolabi Bridge at Etche Waterfront, the 1,120-metre Abotoru Bridge, and the 490-metre Okpoka Bridge.

While acknowledging that progress on the Borikiri alignment had lagged because of compensation-related issues, Isichei said construction activities would commence there shortly.

Also speaking, the Project Consultant, Azu Chukwuma, said the scope of the project was reviewed following its revival to align with present realities and engineering requirements.

He noted that efforts were underway to accelerate construction, particularly the launching of bridge beams, despite the high cost of marine logistics associated with the project.

“Our intention is to determine how quickly we can proceed with launching the first sets of beams. The work is mainly on the river, and much of the marine logistics involved is costly. I am in touch with the appropriate officials of the NDDC to determine the best way forward”, Chukwuma stated.

He commended host communities for their cooperation, noting that the absence of major disputes had contributed to the project’s steady progress.

A representative of the construction company, Maroun Kassouf, said fabrication of bridge beams had advanced considerably and that installation would begin soon.

“The project is progressing well. Once people evacuate at the Borikiri end, we will demolish the structures there and move to that site immediately. That end would be much easier, as the river is shallower than the Okrika end”, he said.

The Vice Chairman of the Okrika Community Development Committee, Minengibi Ferdinand, lauded the NDDC for undertaking the project, describing it as a critical infrastructure that would improve connectivity and stimulate economic growth.

He said the road and bridge network would provide an alternative route to Okrika, ease pressure on the East-West Road and open up communities for greater socio-economic development.

“This is a laudable project that will ease traffic on the East-West Road and provide an alternate route to Okrika. We are hopeful that once it is completed, it will attract socio-economic development to our community”, Ferdinand said.