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Clam Pastor Wole Oladiyun Completes N200million World Class SOTERIA Hospital ‘My passion for the poor influenced it’

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At last, CLAM church led by Pastor Wole Oladiyun has completed her world class hospital in Lagos at the church’s estate along Omole bus stop, Lagos, saying it is opened for the public. The project which began in 2009 was just completed last month and it would be commissioned today, Saturday, 13 June 2015. It has been named SOTERIA Hospital and the church says it’s not a profit making entity.

 It would be recalled that APOSTLE Wole Oladiyun who is the shepherd-in-charge of fast rising Pentecostal church, Christ Livingspring Apostolic Ministry, popularly known as CLAM in an exclusive interview with Encomium Weekly on Thursday, June 28, 2012 opened up on why he has just completed a multi-million naira paediatric hospital in Ondo State allegedly worth over N50 million, a world-class general hospital which is near completion then at his headquarter at Omole, Ogba, Lagos and a multi-purpose hall said to cost about N500 million alongside the equipment which have been acquired.

It’s interesting to know that you just completed a standard paediatric hospital and a general hospital and a multi-purpose hall. What informed that and when will you unveil them?

First, I give thanks to God for the grace because every good gift comes from God. I want to say my background informed that and it was a mandate from God. I came from a very poor background and I have seen and suffered poverty in its real sense. But I had an enterprising father who was a lover of God. When he died, I asked myself how I would bail my family out of poverty. Thus, I became a man at the age of 11. I was engaged in all manners of trade in other to make my young mother survive the travails of poverty with seven children. She did all manner of odd jobs like selling firewood. That was where and when I pledged that as God blesses me, I will help humanity. Thus, when I found myself in the arena of serving God, it became a platform to serve humanity and wipe away tears. My own definition of prosperity is wiping away tears. Due to my late dad’s instruction, I have always known the fact that health is wealth. He even wanted me to be a medical doctor. I have gone round a lot and discovered that people are really dying of diseases. That triggered the desire within me to bring doctors together and give people free medicare. And the response has been overwhelming. In my hometown, I discovered they didn’t have provision for children and by God’s grace I have built a world-class children hospital which I will give to the Ondo community next month. And I am setting up a foundation so that they can keep children there. And this hospital at CLAM will be dedicated this year. When I was 50, that was three years ago, I promised God I will build a hospital and a maternity that will take care of women, children and every other person. And He heard my prayers. The money that came into my hands was ploughed into the project. As people blessed me, I invested on the humanitarian business.

What is the machinery put in place to ensure the hospitals are well managed?

That’s why we are setting up a foundation called, Wole Oladiyun Foundation.  And I have told my children and foundation that while I am gone the family must maintain that place. I will soon embark on an eye and teeth clinic for the community.

As an apostle, what’s your take on the socio-political problems of the country?

First, Nigeria is a blessed country. I believe in Nigeria. The problems with Nigeria dates as far back as the era of the Sardauna of Sokoto, Ahmadu Bello, who is one of our political forefathers. Our political forefathers shouldn’t have allowed the British to bring about the amalgamation of the North and the South. What the British did then was divide and rule. They saw the Upper Niger as a backward place and Southern Niger as a productive place. Per capital income of Southern Nigerians as at then was over four million pounds while in the North, it was just below 400 pounds. And on the socio-political formation then, the security apparatus of Nigeria, showed that the Northerners were very wild. And they needed to be pacified. In other to get what they wanted, they looked at their system of government and fooled them to ensure that power remained in the North. They were using the money in the South to service the North. It would have been better if the North were left alone so we could have a Northern Nigeria and Southern Nigeria. It would have been a wonderful formation. The integration now brought together two strange bedfellows. There is no way this equilibrium could be maintained in all spheres. We have different outlooks. The culture and orientation differ a lot. In reality, we need to do something, it could be a national conference, regional government and state police of which I am an advocate. When you send a Kanuri man to Ondo, there would be clash of interests. Look at America, with over 50 states, they have regional and state police and still stay together. I believe National Conference is ideal where we would air our differences and tell them that our representatives at the House of Representatives are not bringing the dividends of democracy to the grassroots. They are using the local government to commit fraud. The senators are fraudulent. I owe them no apology because they have to change.

An average politician is not interested in alleviating the pains of the people as we do. Rather, he is interested in what he can get from the people. We lack moral values. We have to go back to the basics. We have to go back to family values. I told my children that there is nothing in this world. Therefore, whatever they can do for God and humanity, they should do. Be exact and contented with what you have. You can’t sleep on three beds. We should eliminate greed. That’s how I live my life. My members can attest to it that the tithe and offering I collect are ploughed back into the ministry’s projects. That is the secret of the success of this ministry. I am very open and accountable. People queried why I do that and I tell them I am accountable. If I send you to buy Tom Tom, you have to bring a receipt or sign for it so that I can account for all the money spent. We also need a mindset revelation by changing the way we think. Our thinking is lopsided.

But it’s obvious that the clergy are some of the godfathers of these politicians, what’s your take on that and the Boko Haram issue?

God is the way out for Nigeria. Our problem surpassed Boko Haram. Where we have different men and women of God, definitely there will be divergent views about issues. Your primary value system will determine your orientation. The primary value system affects every man and woman of God. I can only speak for myself and those who are aligned with my vision.

Talking about vision, it’s interesting to know that few days to the Dana Airplane crash, you informed your church that God showed you a revelation of a plane crash in Lagos…

One thing about me is that I don’t like blowing my trumpet in the public. Visions are meant to build faith not to create fear. The only reason I announced the plane crash before the incident was because I made concerted efforts to get in touch with the airline owners and warned them of the impending doom and that they should not fly any ailing plane but was not successful. Thus, I informed the church so we can pray and see if we can get someone who has their connection. As to the vision, all I know is that God speaks to me. Over the years, I keep records. But we are very careful and that is why we don’t air such on TV because prophecies are meant to better the lot of this country and not to create fear. God has revealed to me a model on how to better the lot of this country and I have written them down. We are too reactive instead of being proactive in dealing with issues. I don’t indulge in such. I don’t agree with issues where they say the Presidency asked the clergy to come for emergency prayer of 30 seconds to change issues. I don’t do such. As a prayer priest, prayer is a serious issue. We need serious intercession in Nigeria. There are sins in this country, how can someone be stealing money and still say he/she is fasting and praying. Ask anybody here, I declare it openly that if you are a thief or fraudulent person don’t pay tithe and give offering. I have returned so many people’s cheques once I know it was gotten fraudulently. Even so called men and women of God lack the fear of God. At the Villa they sent some people here to verify if one man would become president and I said he would not and that if he should try it, he would have fractured legs. They said I should pray to change the vision and I said I can’t do such because that’s not God. The youths are angry and that’s why I empowered them because if we let them loose a great revolution would erupt. Let Nigeria go on one year leave of not stealing and it will be a paradise. We steal too much.

Have you ever had an embarrassing moment?

I make mistakes and I correct them. I make mistakes in my judgements. I am a core administrator. I mind details a lot. I have embarrassing moments in many ways in terms of temptation, women and men have tempted me and even people with money have tempted me. But God’s grace has helped me to overcome and that’s why I can say it openly that I have no skeleton in my cupboard. My members know that I don’t toy with women because God has blessed me with a good woman and we work together. And I am open. If I have challenges, I declare them open to my people so they can pray along with me. The higher you go, the higher the temptations. The greatest temptation I have ever had is people come here to tempt me with dangerous money and I have always said no. I can’t take blood money.

How do you cope with such a huge ministry like CLAM?

God has been helping us a lot. It’s a full gospel ministry where you are trained to be a total person. My area of strength is soul winning and prayer. My mentor in prayer is Dr. D. K. Olukoya of MFM. My father, Dr. Aboderin trained me and Pastors Adeboye, Ashimolowo love me as their son. We are now 14 years and will soon start a world class farm settlement in September.

The raging issue in Christendom is the separation of Rev. Okotie and wife, Stephanie, what is your reaction? Is it permissible for Christians to walk in and out of marriage?

Bob Marley sang a song that every man has the right to decide his own destiny but on judgement day, there is no partiality. I used to be a reggae DJ (laughs). I don’t want to talk about Rev. Chris Okotie, because he is a senior minister of God but I would rather be praying for him. I would only talk about the Biblical standard. The Bible does not permit nor allow divorce. No other thing. If the Bible has said that, the onus is now on you to follow the injunction of the Bible or not.  I will pray for Rev. Chris because he has labored in Christendom. He is a lover of God who must make heaven. God is merciful. Nobody is perfect. We have our strength and weaknesses. Where we have not done well, God can give us another chance. However, the Bible does not support divorce.

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Fidelity Bank grows gross earnings by 38% to N434.95b in Q1

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Fidelity Bank grows gross earnings by 38% to N434.95b in Q1

 

Fidelity Bank Plc recorded 37.9 per cent growth in gross earnings to N434.95 billion in first quarter 2026 as the international commercial bank continued to expand its core banking market share.

 

Interim report and accounts of Fidelity Bank for the three months ended March 31, 2026 released at the Nigerian Exchange (NGX) showed that gross earnings rose from N315.42 billion in first quarter 20025 to N434.95 billion in first quarter 2026, representing an increase of 37.9 per cent.
The top-line performance was driven by impressive growth in the bank’s core business operations with interest incomes rising by 22.8 per cent to N314.48 billion in first quarter 2026 as against N256.10 billion in first quarter 2025.

 

With net interest income at N180.97 billion, the bank closed the period with profit before tax of N92.48 billion. After taxes, net profit stood at N74.47 billion for the three-month period. Earnings per share remained high at N5.69, underlining the capacity of the bank to reward its shareholders.

 

 

The balance sheet of the bank also emerged stronger. Total assets crossed the N11 trillion mark to N11.35 trillion by March 2026 compared with N10.46 trillion recorded in December 2025. Customers’ deposits increased from N6.89 trillion to N7.38 trillion. Total equity rode on the back of earnings growth to a 27.5 per cent increase from N1.09 trillion in December 2025 to N1.39 trillion by March 2026.

 

 

The first quarter 2026 results further consolidated the strong earnings outlook of the bank, which had successfully completed its recapitalisation amidst impressive earnings performance in 2025.
Fidelity Bank had recorded double-digit growths in interest and non-interest incomes as well as key balance sheet items during the year ended December 31, 2025.

 

 

The audited report showed that gross earnings rose from N1.04 trillion in 2024 to N1.52 trillion in 2025, an increase of 45.6 per cent. Interest and similar incomes had grown by 38.7 per cent from N803.1 billion in 2024 to N1.11 trillion in 2025. Fees and commission incomes also rose by 44.7 per cent from N78.4 billion to N113.4 billion. The bank recorded net profit after tax of N242.4 billion in 2025.

 

 

The bank’s balance sheet emerged stronger with total assets rising by 18.6 per cent to N10.46 trillion in 2025 as against N8.82 trillion in 2024. Customer deposits increased by 16.1 per cent from N5.94 trillion to N6.89 trillion, reflecting continued franchise strength and an improved funding profile. Net loans and advances meanwhile declined by 2.4 per cent to N4.28 trillion in 2025 as against N4.39 trillion in 2024, attributable to customers paying down on their mature obligations.

 

 

The bank had in 2025 strengthened its capital position, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation. In addition, capital adequacy had remained robust, with Capital Adequacy Ratio of 30.94 per cent by December 2025 as against 23.47 per cent by December 2024.

 

Managing Director, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, said the first quarter 2026 results reinforced the bank’s strong and resilient business model.

 

She noted that with the remarkable success of its recapitalisation programme and continuing expansion, Fidelity Bank has entered a new era of growth and impressive returns.

 

“We are on a stronger footing and confident that we will set new growth records that are reflective of our legacy and the future we are working on,” Onyeali-Ikpe said.

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Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU

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NLC Commends Dangote Refinery, Urges FG to Sell Adequate Crude in Naira to Reduce Fuel Prices

Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU

The operational ramp up of the 650,000 barrels per day Dangote Petroleum Refinery & Petrochemicals is fundamentally reshaping Nigeria’s downstream oil sector, significantly reducing the country’s dependence on imported refined petroleum products and strengthening its external position, according to the Economist Intelligence Unit (EIU).

In its latest assessment on Nigeria’s fuel market and regulatory environment, the EIU said the refinery has already transformed a sector that was previously characterised by heavy reliance on imported fuel despite Nigeria being Africa’s largest crude oil producer. The report noted that the refinery met nearly 80 per cent of domestic petrol demand in April and produced enough volumes to satisfy local consumption requirements as operations approached full capacity.

The EIU described Nigeria’s downstream petroleum sector before the refinery as “long dysfunctional”, noting that the country had remained almost entirely dependent on costly imported fuel while producing nearly 1.5 million barrels of crude oil daily.

According to the report, the emergence of the refinery has reduced import dependence, improved domestic fuel availability and strengthened Nigeria’s balance of payments position through lower import demand and rising exports of refined petroleum products.

“The gradual ramp up of the 650,000 barrel/day Dangote refinery since May 2023 has transformed Nigeria’s long dysfunctional downstream sector,” the report stated. “The country’s main refineries, all state owned, had been inoperative for years and Nigeria was almost entirely reliant on costly imported fuel.”

The research and analysis division of The Economist Group, London added that the refinery’s attainment of full operational capacity and its planned expansion would further support Nigeria’s economic growth and foreign exchange earnings over the medium term.

“Meanwhile, the attainment of full capacity at, and an increase in exports from, the Dangote refinery will support real GDP growth and foreign exchange earnings in 2026 and 2027 and beyond, as a planned doubling of the plant’s output comes on stream around the end of the decade,” it added.

Industry analysts said the refinery is increasingly positioning Nigeria as an emerging refining and export hub, altering energy trade flows across Africa and reducing the vulnerability associated with fuel import dependence.

The EIU noted that the refinery’s expansion has coincided with major reforms in Nigeria’s downstream sector, including the removal of fuel subsidies and the introduction of market driven pricing mechanisms.

The report, however, said the transition from a state dominated fuel import structure to large scale domestic refining has triggered resistance from interests linked to the old import regime.

The latest tensions emerged following the decision by the Nigerian Midstream and Downstream Petroleum Regulatory Authority to relax restrictions on petrol imports despite the refinery’s growing capacity to meet domestic demand.

Dangote Industries subsequently initiated legal action, arguing that continued import approvals undermine domestic refining investments and conflict with the objectives of the Petroleum Industry Act, which seeks to encourage local refining capacity and reduce import dependence.

Analysts noted that the availability of large-scale domestic refining capacity has improved Nigeria’s energy security and reduced exposure to external supply shocks and foreign exchange volatility.

The Centre for the Promotion of Private Enterprise also cautioned against unrestrained importation of petroleum products, warning that such a policy could weaken Nigeria’s industrialisation drive and discourage investments in domestic refining.

Chief Executive Officer of CPPE, Muda Yusuf, said continued dependence on imported fuel had historically contributed to pressure on foreign reserves, exchange rate instability and fiscal leakages.

The refinery’s growing impact is also being reflected in Nigeria’s broader macroeconomic indicators. Earlier this month, S&P Global Ratings cited increased domestic refining capacity and rising hydrocarbon exports among the major factors supporting Nigeria’s sovereign credit rating upgrade – the first in 14 years.

Beyond Nigeria, analysts said the refinery is increasingly being viewed as a strategic industrial asset for Africa, where many countries remain heavily dependent on imported fuel despite rising demand for transportation, manufacturing, and power generation.

 

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BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally

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BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally

 

In a landmark ruling on Friday, May 22, 2026, the Federal Capital Territory High Court in Abuja threw out a $19.6 million lawsuit filed by Alternate Dimensions Ventures Ltd against the Nigerian National Petroleum Company Limited (NNPCL), affirming a key legal principle: a written contract cannot be expanded through oral agreements or conduct.

Alternate Dimensions had sought $19,600,000 in professional fees, claiming the scope of its Direct Sale, Direct Purchase (DSDP e-pro) contract with NNPCL was orally expanded. Represented by counsel Patrick Peter, the firm argued it was entitled to the revised sum for services rendered under the alleged new terms.

But NNPCL, through its lawyer Ituah Imhanze of KENNA LP, pushed back sharply, arguing that parties are bound exclusively by the clear terms of their written agreement. Imhanze contended that without any written amendment, the claim was legally unsound, and the court agreed.

Delivering judgment, Justice Hamza Mu’azu upheld NNPCL’s defense, stating that the contract was unambiguous and that no evidence was adduced during the trial, which supported the alleged scope expansion. The court further found that NNPCL fully complied with all contractual terms and committed no breach.

Dismissing the suit as meritless, Justice Mu’azu reinforced the doctrine of sanctity of contract: any amendment to a written agreement must be express, unequivocal, and documented, not implied or verbal.

The ruling spares NNPCL from the S19.6 million claim and also a floodgate of similar potential liabilities.

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