Fidelity Bank Plc has restated its commitment to advancing Nigeria’s oil and gas industry, with a strong focus on supporting indigenous operators. This was highlighted by the bank’s Managing Director and Chief Executive Officer, Dr. Nneka Onyeali-Ikpe,OON, during a first oil presentation event for Emadeb Energy at Fidelity Place, the bank’s corporate headquarters in Lagos.

At the event, Emadeb Energy’s Group Managing Director and Chief Executive Officer, Mr. Adebowale Olujimi, expressed appreciation for the bank’s role in enabling the company’s progress.

“What makes Fidelity Bank unique is its willingness to take calculated risks. Many banks prefer to work with companies only after they have achieved first oil because they want already-established customers. Fidelity Bank reviewed our proposal thoroughly, including legal, technical, financial and character assessments. We met these requirements and that is why they supported us,” Olujimi said.

Dr. Onyeali-Ikpe congratulated Emadeb Energy on its milestone and reaffirmed Fidelity Bank’s commitment to strengthening Nigeria’s energy sector.

“At Fidelity Bank, we are dedicated to supporting indigenous companies in developing oil and gas assets that enhance energy security and promote sustainable growth. Our interventions include financing Nigeria’s first privately built and operated onshore crude export terminal in over fifty years at the Otakikpo Marginal Field in Rivers State.

“We also led funding for the Pinnacle Oil and Gas Terminal in Lekki, Lagos, which improves petroleum product distribution and reduces costs. In addition, we part-financed the production of a 23,000-cubic-meter Liquefied Petroleum Gas carrier for Temile Development Company Limited, which supports cleaner energy use and strengthens local maritime participation,” she said.

Emadeb Petroleum Exploration and Production Company Limited, operator of Petroleum Prospecting License (PPL) 236, recently achieved first oil from the Ibom Field, a milestone regarded as a significant breakthrough in Nigeria’s upstream sector.

“Our next phase will be exciting. We plan to drill two additional wells and increase production to 12,000 barrels per day by the end of 2026. After that, we aim to expand our gas business and raise oil output to 30,000 barrels per day,” Olujimi added.

L – R: Executive Director -South, Mrs. Pamela Shodipo; Managing Director/Chief Executive Officer, Dr. Nneka Onyeali-Ikpe,OON (both of Fidelity Bank Plc); Group Managing Director/Chief Executive Officer, Mr. Adebowale Olujimi; Group Executive Director, Mrs. Olugbesoye Olujimi (both of Emadeb Energy); Executive Director -Lagos and South West, Fidelity Bank Plc, Dr. Ken Opara; and Group Executive Director, Finance/Strategy, Emadeb Energy, Mr. Tosin Adewuyi; at the First Oil presentation event by Emadeb Energy at the Fidelity Bank headoffice in Lagos recently.

Fidelity Bank Plc, a leading financial institution, has released its unaudited financial statements for the third quarter ended September 30, 2025. The results show impressive performance across key income lines and operational metrics.

According to the statements published on the Nigerian Exchange Group (NGX) portal on November 21, 2025, the Bank reported Gross Earnings of ₦366.1 billion for Q3 2025. This represents an 8 percent increase from the ₦338.9 billion recorded in Q3 2024. The growth was driven by strong interest income and sustained momentum in fee-based revenues.

Interest Income, calculated using the effective interest rate method, rose by 33 percent to ₦285.6 billion in Q3 2025, compared to ₦214.7 billion in Q3 2024. Other Interest Income more than doubled, rising from ₦13.0 billion in the corresponding period of 2024 to ₦34.2 billion. This underscores significantly improved returns from non-core lending activities.

Year-to-date, the Bank achieved a major milestone with Gross Earnings surpassing ₦1.1 trillion, the highest in its history. This is an increase from ₦772.5 billion in Q3 2024. The Bank’s total assets also crossed the ₦10 trillion mark, driven by robust growth in cash, customer loans, and investment securities; this compares to ₦8.8 trillion in Q3 2024. Net Interest Income for the nine-month period reached ₦565.3 billion, while fee and commission income totaled ₦84.5 billion. The respective figures for Q3 2024 were ₦470.5 billion and ₦56.3 billion.

Credit Loss Expenses moved to ₦900 million from ₦32.8 billion in Q3 2024; however, Net Interest Income remained flat at ₦144.8 billion, compared to ₦143.7 billion in Q3 2024. This reflects improved asset quality and effective risk management practices. Fee and Commission Income grew by 47.2 percent to ₦31.1 billion, up from ₦21.1 billion in Q3 2024, driven by increased transaction volumes and digital banking adoption. Foreign currency revaluation gains contributed ₦14.1 billion to Non-Interest Revenue, while other Operating Income rose to ₦1.1 billion from ₦447 million in Q3 2024.

A milestone moment awaits on November 21, 2025, as Development Bank of Nigeria (DBN), with support from Agence Française de Développement (AFD), and Sterling One Foundation host the Women Investment Readiness Accelerator (WIRA) Demo Day to showcase the innovation and growth potential of women-led enterprises in Nigeria.

The Demo Day will serve as the final stage of the WIRA program, providing women

entrepreneurs who have undergone weeks of hands-on business development training,

mentorship, and investment readiness coaching the opportunity to pitch their businesses to a room of targeted investors, development finance institutions, and strategic ecosystem partners.

WIRA was launched to bridge the long-standing capacity and financing gap faced by women-led businesses in Nigeria.

Many women entrepreneurs continue to face capital, quality advisory services, market opportunities, and networks needed to scale their enterprises, despite playing a significant role in driving economic productivity and job creation.

The programme directly responds to these gaps by equipping participants with the tools, resources, and confidence to expand and sustain their businesses in competitive markets.

investing in women-led enterprises: “

Speaking ahead of the Demo Day, Dr. Tony Okpanachi, Managing Director/CEO of Development Bank of Nigeria Plc, emphasized the importance of The WIRA program represents a strong step toward unlocking the potential of women entrepreneurs who, for too long, have been underserved. At DBN, we recognize that empowering women-led MSMEs is essential for achieving inclusive economic growth.

The upcoming Demo Day is an opportunity to showcase the innovation and resilience that these women bring to the Nigerian economy, and to connect them to partners who can help bring their ideas to scale.”

Similarly, Olapeju Ibekwe, CEO of Sterling One Foundation, noted that the Demo Day reflects the Foundation’s commitment to long-term women economic empowerment: “Our goal with WIRA has been to not only build business capacity, but to expand the pathways to funding and visibility for women entrepreneurs. The Demo Day is more than a pitch event, it is a platform that elevates women’s voices, celebrates their innovation, and links them with opportunities to grow their impact. We look forward to showcasing the remarkable progress these entrepreneurs have made.”

The event will be attended by impact investors, commercial and development finance institutions, private sector partners, and stakeholders in the women entrepreneurship ecosystem.

About the Development Bank of Nigeria

Development Bank of Nigeria was set up by the Federal Government of Nigeria (FGN) in

collaboration with global development partners to address the major financing challenges facing Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria. Its objective is to alleviate financing constraints faced by MSMEs and small Corporates in Nigeria through the provision of financing and partial credit guarantees to eligible financial intermediaries on a market-conforming and fully financially sustainable basis.

For more informationvisithttps://www.devbankng.com/

About the Sterling One Foundation

Sterling One Foundation (SOF) is a registered non-profit focused on tackling the root causes of poverty in Nigeria, and Africa through interventions and social impact programmes across three critical sectors namely: health, education and climate action & food security.

Gender Equality and women empowerment are integrated as a cross-cutting priority across all our programming areas. The Foundation’s programmes adopt a central theme of prioritizing partnerships for the achievement of the Sustainable Development Goals (SDGs).

For more information visit onefoundation.ng

Chiwendu Isaiah

Public Relations, Sterling One Foundation.