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Fidelity Bank Partners with Temile Development Company to Boost Nigeria’s Gas Revenue Growth.

Temile Development Company Ltd, a prominent indigenous player in Nigeria’s oil and gas industry, recently marked a significant achievement by commissioning a state-of-the-art 23,000 cubic meters Liquefied Petroleum Gas (LPG) Carrier. Named ‘Alfred Temile 10’, the vessel was partly financed by Fidelity Bank Plc, a leading Nigerian bank. The commissioning took place at the Hyundai Mipo Dockyard in Ulsan, South Korea, and witnessed the presence of distinguished guests, including the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd (NNPC), Mallam Mele Kyari,OFR; Managing Director/Chief Executive Officer, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe,OON; Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Luke Ekpo, among others.

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Mallam Mele Kyari praised the achievement, highlighting the global shift towards cleaner energy sources. Dr. Nneka Onyeali-Ikpe,OON emphasized the significance of the vessel in supporting Nigeria’s transition to cleaner energy and commended Fidelity Bank’s role in facilitating the transaction. Notably, this marks Fidelity Bank’s second venture of this kind, showcasing its commitment to the industry.

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Alfred Temile, the CEO of Temile Development Company, expressed gratitude for the collaboration and support received from NNPC Ltd and other stakeholders. The commissioned vessel is poised to enhance the involvement of indigenous maritime players, streamline LPG supply logistics, and increase availability for last-mile users in Nigeria. This move contributes to the growth of the domestic gas industry, showcasing the expanding capabilities of Nigerian companies in the oil and gas sector.

It is worth noting that Fidelity Bank Plc previously contributed to the development of the Pinnacle Oil and Gas Terminal in Lagos, aligning with efforts to enhance energy security in Nigeria. Recognized as one of the top banks in the country, Fidelity Bank serves over 8 million customers across its 251 business offices in Nigeria and the United Kingdom, along with digital banking channels. The bank has earned numerous accolades, including Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, among others.

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