Financial Energy Review
by Ben Ndubuwa……………..
Fidelity Bank Plc, has expressed delight to be associated with the Ajaokuta – Kaduna – Kano (AKK) Gas Pipeline Project and commended Oilserv Limited, contractors to the project and the Nigeria National Petroleum Corporation (NNPC) for their determination to ensure that the project comes to fruition
Speaking at the flag off ceremony of the project at Ajaokuta, Fidelity Bank CEO, Mr. Nnamdi Okonkwo said that the bank was delighted to be associated with the laudable initiative to improve gas supply, enhance power generation and boost the productive capacity of the Nigerian Industrial sector. Okonkwo who was represented by the Executive Director, North, Mr. Hassan Imam pledged Fidelity Bank’s commitment to Oil Serv, the contractor of this project.
“As partner/banker to Oilserv, we are happy to meet all the financial obligations and other funding needs, required to successfully execute this project” he added. Leveraging on its know-how and capacity, Fidelity Bank Energy Desk provides support to businesses in the oil and gas value chain. The bank’s support for local content development, according to Fidelity Bank’s Executive Director, Corporate Bank, Mr. Obaro Odeghe “underscores our support for the key infrastructure initiatives of the Federal Government, and our customer, Oilserv Limited; a market leader in the oil servicing space”.
Oilserv Limited is an indigenous Engineering Procurement, Construction and Installation (EPCI) company. The Company provides EPCI services to Power and Oil & Gas Companies /Industries and have executed several landmark pipeline and gas infrastructure projects including OB-3 Pipeline Contract, OB-OB Project and currently the AKK pipeline project.
Chairman & CEO, Oilserv Limited, Mr. Emeka Okwuosa assured Nigerians that the project would be delivered within the contractual terms, adding that the company has the capacity to handle such a monumental project. “We are ready for it and what we are doing today is the official flag off which is ground breaking. We are already working and laying the lines”, he stated. According to him the company had already employed over 600 employees, stating that this will be increased to 1000 or 15000 in due course.
