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IWD: Fidelity Bank signs MoU with Partners, launches ‘Give Her Power’ Initiative to empower Nigerian Women

Fidelity Bank Plc has reaffirmed its commitment to advancing women’s economic empowerment with the signing of strategic Memoranda of Understanding (MoU) with partner organisations at the launch of the bank’s “Give Her Power” initiative, a programme designed to equip Nigerian women with practical skills, tools, mentorship, and financial knowledge.

The partnerships, formalised as part of activities commemorating the 2026 International Women’s Day, bring together a diverse network of stakeholders: LUSH Hair, Barbergirl Academy School of Barbering, Dee ‘n’ Ell the Shoe Architect, Inter-Bau Foundation, IVM Innoson, National Credit Guarantee Company (NCGC) and One Universe.

The collaboration is anchored on the Bank’s HerFidelity Apprenticeship Programme, a structured platform created to provide vocational training, business support, and sustainable enterprise opportunities for women across multiple sectors.

Speaking during the event, Managing Director and Chief Executive Officer, Fidelity Bank Plc, Nneka Onyeali-Ikpe, highlighted that the bank’s ‘HerFidelity’ initiative reflects Fidelity Bank’s continued commitment to creating opportunities that empower women to achieve financial independence and build sustainable businesses.

“At Fidelity Bank, we strongly believe that empowering women is not only a social responsibility but also a powerful economic strategy. Through the ‘Give Her Power’ initiative and the HerFidelity Apprenticeship Programme, we are providing women with practical tools, vocational skills and financial knowledge that will enable them to move from effort to earnings and from hustle to sustainable enterprise.”

She explained that the programme will deliver a range of interventions throughout the month of March, including the distribution of 1,000 sewing and grinding machines to support women-led microbusinesses, as well as vocational training in automobile mechanics, interior decoration, barbing, hair making, and shoe making.

Other components of the initiative include professional headshot sessions to strengthen women’s personal and professional brands, mentorship engagements with leading female entrepreneurs, and hands-on skill acquisition training in areas such as makeup artistry, nail care, and traditional headgear tying.

Onyeali-Ikpe also noted that empowering women economically has ripple effects that extend beyond individual beneficiaries.
 
“When women are empowered economically, the impact extends far beyond individuals. It strengthens families, grows businesses, and uplifts entire communities. Research suggests that advancing women could add up to $12 trillion to global GDP. This reinforces the need to deliberately create platforms that support women to build sustainable businesses and strengthen their economic independence,” she added.

Applauding the bank’s initiative, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem, commended Fidelity Bank for its leadership in promoting entrepreneurship and supporting women across the nation.

“This initiative strongly aligns with the Lagos State Government’s commitment to building an inclusive economy where women have access to skills, mentorship and financial opportunities they need to thrive”, Ambrose-Medebem stated.

Her words, “Women remain key drivers of commerce and enterprise across Lagos, from traditional markets to emerging digital sectors. This initiative by Fidelity Bank has ensured that we stayed true to the promoting and supporting women”.

Also speaking at the event, the Lagos State Commissioner for Women Affairs and Poverty Alleviation, Mrs. Bolaji Cecilia Dada, praised Fidelity Bank for championing financial inclusion and economic independence for women.

“Empowering women economically is one of the most effective ways to reduce poverty and strengthen communities. We commend Fidelity Bank for this forward-thinking initiative and for demonstrating how collaboration between the private sector and government can create meaningful opportunities for women across the state,” she said.

Representatives of the partner organisations also expressed appreciation to Fidelity Bank for the collaboration, noting that the partnership will play a significant role in expanding vocational training opportunities and strengthening entrepreneurship among women.

The Give Her Power initiative is expected to empower hundreds of women through skill development, mentorship, and startup support, while reinforcing the role of women as key contributors to Nigeria’s economic growth.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
 
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
Credit Fidelity Bank PR

IWD: Fidelity Bank signs MoU with Partners, launches ‘Give Her Power’ Initiative to empower Nigerian Women
Economy
11-Mar-2026

Era of Fuel Scarcity over, says Dangote Refinery, slashes Petrol Price by N100

The management of Dangote Petroleum Refinery has announced a major reduction in the prices of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (AGO), also known as diesel.
This strategic adjustment according to the company is aimed at easing the financial burden on consumers and supporting broader economic stability across Nigeria.
Under the new pricing framework, the gantry price of PMS has been lowered from ₦1,175 to ₦1,075 per litre—a reduction of ₦100. The coastal price has also been adjusted downward from ₦1,150 to ₦1,028 per litre, representing a ₦122 decrease. Diesel prices have similarly been reduced from ₦1,620 to ₦1,430 per litre, amounting to a ₦190 cut.
"This decision underscores our commitment to maintaining a pricing structure that remains sensitive to global market trends and reflective of our principles of fairness and transparency", says Dangote Refinery's Management.
"As a company operating under strict governance standards and strong ethical values, it is important for us to ensure our pricing aligns with the ongoing decline in global crude oil prices. All crude processed at the refinery is purchased at the global benchmark price, plus a premium of $3 to $6. Foreign exchange payments are made at the prevailing market rate, with no subsidies applied to either crude or forex. Additionally, crude supplied through the Naira‑for‑Crude arrangement is priced in line with the global benchmark plus premium and converted to naira using the current exchange rate."
The company In 2025 alone, reduced its gantry prices on no fewer than eight occasions, increasing them only twice - "an effort rooted in economic patriotism and our responsibility to the Nigerian people."
Dangote Refinery says it remains committed to ensuring that any cost advantages are passed on to consumers across the 36 states and the Federal Capital Territory.
Recently, the Managing Director of Dangote Petroleum Refinery, David Bird, assured Nigerians that the refinery will continue to meet the nation’s fuel demand despite turbulence in the global oil and gas market.
He noted that while fuel‑import‑dependent nations are experiencing panic buying and rationing, Nigeria will not face similar conditions because of the refinery’s unwavering commitment to ensuring nationwide fuel availability.
Bird highlighted that the refinery continues to supply uninterrupted fuel to the domestic market even as geopolitical tensions in the Middle East have triggered sharp increases in crude prices, freight charges, and insurance costs.
He described the recent spike in crude markets as unprecedented, pointing out that oil surged from the mid‑$60 range to nearly $120 per barrel in just one week—disrupting every segment of the global energy supply chain.
While acknowledging that the refinery is not insulated from global price fluctuations, freight volatility, or rising insurance premiums, Bird emphasised that Nigeria now enjoys a significant advantage: a secure fuel supply driven by domestic refining capacity.
“What would be worse than $120 oil is no oil,” he noted, stressing that several countries are now rationing fuel due to total dependence on imports. He added that even nations with strong refining sectors have begun restricting fuel exports to protect their domestic markets amid the ongoing global supply shock.
Bird reaffirmed that as long as the refinery continues to receive crude from the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL), it will remain fully committed to supplying the domestic market.
“With the continued support of the government and uninterrupted access to local crude supply, Dangote Refinery will consistently meet all of Nigeria’s refined fuel requirements,” he assured.
Credit Dangote Group PR

Era of Fuel Scarcity over, says Dangote Refinery, slashes Petrol Price by N100
Economy
11-Mar-2026

Why Tinubu okays $20b FID Bonga Deepwater Project

President Bola Tinubu has approved a targeted fiscal incentive designed to unlock the long awaited Final Investment Decision (FID) on the Bonga Southwest Aparo (BSWA) deepwater project.

This is marking a milestone in Nigeria’s ongoing drive to attract strategic investments and accelerate sustainable economic growth.

The project is estimated to attract about $20 billion in Foreign Direct Investment and position Nigeria for a new era of deepwater production.

The approval followed months of intensive technical and commercial negotiations involving NNPC Limited as the concessionaire, the Nigeria Revenue Service (NRS), the Special Adviser to the President on Energy, Olu Verheijen, and the Shell CEO, Wael Sawan.

The development is a culmination of the president’s directive issued during a courtesy visit by Shell CEO, Wael Sawan, to fast-track the enablers required to move this strategic national asset to FID.

Speaking on the development, the Group Chief Executive Officer of NNPC Limited, Bashir Ojulari, said it signaled renewed confidence in Nigeria’s policy direction.

”This development will translate reform momentum into tangible investment outcomes.

“This approval is a testament to the president’s leadership, NNPC’s disciplined execution and our ability to structure complex, bankable transactions that deliver value for Nigeria.

“For nearly two decades, the Bonga Southwest project remained stalled. Today, under President Tinubu’s reform-driven leadership and through NNPC’s sustained advocacy, we have broken that logjam.

“This is what partnership, persistence and policy clarity can achieve.”

“This milestone further affirms NNPC’s commitment, under the President’s leadership, to unlocking Nigeria’s vast energy potential through partnerships, disciplined innovation and execution excellence,” he said.

Ojulari said the Bonga Southwest project would  be the first FID on a Nigeria deepwater Production Sharing Contract asset since 2008, re-establishing Nigeria as a premier deepwater investment destination.

He said the fiscal package approved by President Tinubu included an enhanced Production Tax Credit and resolution of the 2021 dispute settlement agreement, creating a competitive framework that balances national value with investor returns.

He said the NNPC Limited, as concessionaire, worked closely with SNEPCo and the broader contractor party to develop alternative fiscal solutions that address structural constraints while protecting Nigeria’s long-term interests.

According to him, the approval was granted rigorous evaluation by the NRS and submission of recommendations to the Presidency.

“This milestone reinforces NNPC’s strategic pivot toward partnership-driven growth.

“By aligning with global majors like Shell and securing the enabling fiscal environment, NNPC Ltd is translating the President’s investment reform agenda into tangible outcomes—jobs, revenues, and energy security for Nigerians.

“With Presidential approval secured, NNPC Limited and its partners will now progress toward FID, triggering the multi-billion-dollar capital commitment that will transform Nigeria’s deepwater landscape and deliver enduring value to the nation,” Ojulari said.

The NNPC boss said the Bonga Southwest Aparo project, operated by Shell with all International Oil Companies (IOCs) in Nigeria as partners, would create over 5,000 direct and indirect jobs.

He said it would also deliver 150,000 barrels per day of crude oil and 140 million standard cubic feet per day of gas upon completion.

Credit NAN: Texts excluding Headline

Why Tinubu okays $20b FID Bonga Deepwater Project
Economy
11-Mar-2026

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