Fidelity Bank Invests ₦17b in Transport Sector

Fidelity Bank Plc said its total portfolio in the Nigerian transport sector has risen to about ₦17 billion.

John Obi, Fidelity Bank’s Executive Director in charge of Corporate Banking, at a forum in Lagos, said the bank now controls 10% of the market share of the road transport business.

Mr. Obi said that the bank is investing in the transport sector because “it is a very critical part of any economy,” adding that “for goods and services to be moved across the country, it is necessary to develop the sector. Goods cannot be manufactured and kept in a warehouse, it is only when they are delivered to consumers that the goals can be said to be achieved.”