Fidelity Bank Supports Temile Development Company To Boost Nigeria’s Gas Revenues

Fidelity Bank Supports Temile Development Company To Boost Nigeria’s Gas Revenues

Newzurban reports that, Temile Development Company Ltd., a major indigenous player in the oil and gas industry, recently commissioned a 23,000 cubic meters ultramodern Liquefied Petroleum Gas (LPG) Carrier. This has been hailed as a significant milestone in the advancement of Nigeria's domestic gas industry and the generation of gas revenues.

The vessel, dubbed "Alfred Temile 10," was put into service at the Hyundai Mipo Dockyard in Ulsan, South Korea, and was partly sponsored by Fidelity Bank Plc, a renowned Nigerian bank.

The Nigerian National Petroleum Company Ltd. (NNPC) Group Chief Executive Officer, 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; Ambassador Ferdinand Nwonye, Charge d'Affaires Ad Interim, Nigerian Embassy in South Korea; Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, were among the dignitaries present at the event.

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.”

The fact that this was the second of its kind to receive part financing from the Bank was noted, emphasizing its continued support of the sector.

Mr. Alfred Temile, the CEO of Temile Development Company, was elated as he expressed his sincere gratitude for NNPC Ltd.'s and other stakeholders' significant support and cooperation during the project.

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