Connect with us

Business

Fidelity Bank to Showcase the Best of Nigeria’s Non-Oil Exports to International Markets

Published

on

In continuation of its bid to help Nigerian businesses compete favourably in international markets, leading financial institution, Fidelity Bank Plc, has announced plans to host the maiden edition of the Fidelity International Trade and Creative Connect (FITCC).

Scheduled to hold on Tuesday, 15 and Wednesday, 16 November 2022 in London, United Kingdom, FITCC will host leading businesses, entrepreneurs, investors and regulators operating in the commodity, service, creative, fashion and fintech sectors in Nigeria, the United Kingdom and the wider European market, to promote Nigeria’s Non-Oil Exports and facilitate integrations to global supply-chain networks via partnerships, co-creation opportunities and foreign direct investments.

In a chat with journalists on the initiative, Managing Director/Chief Executive Officer, Fidelity Bank Plc, Nneka Onyeali-Ikpe stated, “FITCC is the next step in a series of activities we organized over the years to promote exportation in Nigeria.

As a Bank, we started out by investing heavily in growing local capacity and providing funding options for exporters.

Over the years, we have remained committed to promoting non-oil exports from Nigeria, and through the FITCC, we are opening new opportunities in the international markets for Nigerian exporters and contributing positively to the growth of our economy.

Leveraging this platform, we will connect local businesses to importers and investors in the United Kingdom and Europe.”

Besides product exhibitions, FITCC will feature keynotes/plenaries, syndicate rooms for closed-door engagements with industry leaders, deal/meeting rooms, art exhibitions, themed theatrical performances, networking cocktails and side fashion shows.

“Beyond our contributions in the non-oil export sector, the creative sector remains a key focus for us to help drive economic growth.

Whether through music, art, tech, fashion or food, we are shifting the narrative in the global community and to help the sector, we would be showcasing the best brands in these sectors alongside our commodity exports.

We, therefore, invite as many of them as can join us to come along to FITCC to explore partnership, expansion, market diversification and investment opportunities”, explained Onyeali-Ikpe.

Interested businesses and participants are encouraged to register for the conference at www.fidelitybank.ng/fitcc .

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 7 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards.

The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

Business

Naira depreciates to N1,770/$ in parallel market

Published

on

By

The Naira yesterday depreciated to N1,770 per dollar in the parallel market from N1,750 per dollar last weekend.

Similarly, the Naira depreciated to N1,675.62 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,675.62 per dollar from N1,652.62 per dollar last weekend, indicating N23 depreciation for the naira.

The volume of dollars traded (turnover) fell by 55.2 percent to $108.79 million from $243.05 million traded last week Friday.

Consequently, the margin between the parallel market and NAFEM rate widened to N117.38 per dollar from N97.38 per dollar last weekend.

Continue Reading

Business

Port Harcourt Refinery begins crude oil processing

Published

on

By

The Nigeria National Petroleum Company Limited (NNPCL) has confirmed that the Port Harcourt Refinery in Rivers State has commenced crude oil processing.

The Chief Corporate Communications Officer of the compaanyy, Femi Soneye, broke the news on Tuesday.

Soneye revealed that the refinery will operate at 60 percent capacity and process 60,000bpd.

https://twitter.com/FM_Soneye/status/1861330633831620917?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1861330633831620917%7Ctwgr%5E776845f88f6fa6dd3c70082f4da1ee2632656999%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.vanguardngr.com%2F2024%2F11%2Fbreaking-port-harcourt-refinery-begins-crude-oil-processing%2F

“Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing. This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation,” Soneye said on Tuesday.

“Hearty congratulations to President Bola Ahmed Tinubu, the NNPC Board, and the exceptional leadership of GCEO Mele Kyari for their unwavering commitment to this transformative project. Together, we are reshaping Nigeria’s energy future!”

Soneye added that truck loading will commence on Tuesday (today), adding that the NNPCL is also “working tirelessly to bring the Warri Refinery back online soon”.

Continue Reading

Business

Nigeria’s GDP rate grew by 3.46% in Q3 2024, says NBS

Published

on

By

The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.

The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.

Continue Reading

Most Read...