FIDELITY BANK FACILITIES MILESTONE ACHIEVEMENT IN NIGERIA GAS SECTOR: SUPPORTS TEMILE DEVELOPMENT COMPANY ULTRAMODERN LPG CARRIER

Fidelity Bank Facilitates Milestone Achievement in Nigeria's Gas Sector: Supports Temile Development Company's Ultramodern LPG Carrier

A move to advance Nigeria's domestic gas industry and boost gas revenues, Temile Development Company Ltd, a key player in the oil and gas sector, has successfully commissioned a state-of-the-art 23,000 cubic meters Ultramodern Liquefied Petroleum Gas (LPG) Carrier named ‘Alfred Temile 10’. Notably, this significant endeavor was part-financed by Fidelity Bank Plc, a leading Nigerian financial institution.

Fidelity Bank 

The vessel, commissioned at the Hyundai Mipo Dockyard in Ulsan, South Korea, marks a groundbreaking development for Nigeria's energy landscape. Dignitaries present at the event included Mallam Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd (NNPC); Dr Nneka Onyeali-Ikpe, the Managing Director/Chief Executive Officer of Fidelity Bank Plc; Hon. Ekperikpe Luke Ekpo, Minister of State for Petroleum Resources (Gas); Ambassador Ferdinand Nwonye, the Charge D’Affairs Ad Interim of the Embassy of Nigeria in South Korea; and Engr. Felix Omatsola Ogbe, Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), among others.

Commending Temile Development Company for this commendable achievement, Mallam Mele Kyari highlighted the global shift towards cleaner energy and acknowledged the positive impact of such efforts on Nigeria's energy landscape. Dr Nneka Onyeali-Ikpe expressed Fidelity Bank's delight in facilitating the transaction, emphasizing the bank's commitment to supporting initiatives that contribute to cleaner energy sources.

Mr. Alfred Temile, the CEO of Temile Development Company, expressed gratitude for the collaboration and strong support received from NNPC Ltd and other stakeholders during the project's journey. This marks the second such project part-financed by Fidelity Bank, underscoring the bank's unwavering support for the oil and gas industry.

The commissioning of 'Alfred Temile 10' is expected to enhance local participation in the maritime sector, streamline LPG supply logistics, and increase availability for last-mile users in Nigeria. Fidelity Bank's continued support for initiatives like these demonstrates its commitment to fostering growth in Nigeria's domestic gas industry.

It's worth noting that Fidelity Bank Plc also played a role in financing the recently launched Pinnacle Oil and Gas Terminal in Lagos, aligning with efforts to improve energy security in the country.

As one of Nigeria's top banks, Fidelity Bank has consistently earned accolades both locally and internationally, showcasing its dedication to excellence in the financial sector. The bank's involvement in transformative projects underscores its pivotal role in driving positive change within the Nigerian economy.