Fidelity Bank has partnered with Temile Development Company Ltd, a prominent indigenous player in the oil and gas industry, to enhance Nigeria’s gas revenues. This collaboration marks a significant milestone in the advancement of Nigeria’s domestic gas sector.
Recently, Temile Development Company commissioned a state-of-the-art 23,000 cubic meters Liquefied Petroleum Gas (LPG) Carrier named ‘Alfred Temile 10’. The vessel, financed in part by Fidelity Bank Plc, was commissioned at the Hyundai Mipo Dockyard in Ulsan, South Korea.
Distinguished guests at the event included Mallam Mele Kyari,OFR, Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd (NNPC); Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc; Hon. Ekperikpe Luke Ekpo, Minister of State for Petroleum Resources (Gas); Ambassador Ferdinand Nwonye, Charge D’Affairs Ad Interim of the Embassy of Nigeria in South Korea; Engr. Felix Omatsola Ogbe, Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), among others.
Commending the company on the laudable development, Mallam Mele Kyari said, “I want to congratulate Mr. Alfred for the great feat you have achieved on behalf of our country and we understand that today clean energy is everything because the whole world is transiting to cleaner fuel. In our country, biomass is the major source of energy, and I know that the efforts we are making collectively and with this effort by Temile Group will enhance that ability to produce cleaner energy in our country.”
On her own part, Dr Nneka Onyeali-Ikpe,OON said, “This commissioning is a landmark achievement for Nigeria as the vessel would further support the nation’s drive to utilize cleaner energy sources especially as the world transitions to environmental-friendly energy options. Fidelity Bank is delighted to facilitate this transaction and we congratulate our amiable customer -Mr. Alfred Temile- as well as the good people of Nigeria on this feat.” It was noted that this was the second of its kind being part-financed by the Bank and further underscores its support for the industry.
Mr. Alfred Temile, the CEO of Temile Development Company, expressed profound gratitude for the collaboration and unwavering support received from NNPC Ltd and other stakeholders throughout the project’s journey.
The commissioning of the vessel marks a significant milestone in bolstering the local participation of indigenous maritime players, enhancing LPG supply logistics, and increasing the availability of LPG for Nigerian last-mile users. This will not only contribute to the growth of Nigeria’s domestic gas industry but also underscores the commitment and growing capabilities of indigenous Nigerian companies in the oil and gas sector.
It is noteworthy that Fidelity Bank Plc also provided partial financing for the development of the recently launched Pinnacle Oil and Gas Terminal in Lagos, demonstrating its commitment to improving energy security in the country.
Ranked among the top banks in Nigeria, Fidelity Bank is a fully-fledged customer commercial bank serving over 8 million customers through its 251 business offices in Nigeria and the United Kingdom, as well as digital banking channels. The bank has received numerous local and international awards, including Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, Best Payment Solution Provider Nigeria 2023, and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards, among others.
