- The new oil terminal in Nigeria aims to boost crude output and empower local producers.
- The $400 million facility will enhance exports and strengthen Nigeria’s energy capacity.
Nigeria’s newest oil terminal is driving fresh momentum in the country’s energy landscape. As the first built in 50 years, the Nigerian oil terminal represents a significant milestone for local participation in oil and gas. Located in Otakikpo, the onshore facility currently stores 750,000 barrels of crude oil.
Green Energy International Limited, a local energy firm, built and operates the terminal. Furthermore, the company has started expansion work to increase storage capacity to 3 million barrels. According to Chief Executive Officer Anthony Adegbulugbe, this upgrade will enable higher exports and improve operational efficiency.
During an interview in Abuja, Adegbulugbe explained that Green Energy plans to more than double its crude production. Additionally, the firm will collaborate with several producers to ship crude to global markets. The terminal includes multiple injection points, which allow efficient and flexible export operations.
Nigeria, Africa’s top oil producer, is steadily boosting output through improved security and regulatory reforms. Consequently, as international oil majors divest from specific fields, local producers are stepping up to fill the gap. This shift highlights Nigeria’s growing confidence in achieving energy independence.
The $400 million Otakikpo terminal is located within the OML 11 block southeast of Port Harcourt. It was financed through local and international partnerships, including Shell Plc and Fidelity Bank Plc. The facility is designed to pump 350,000 barrels daily and opens access to over 40 stranded oil fields.
Government spokesperson Temitope Ajayi said the project aligns with the national local content policy. He added that it enables domestic operators to control the entire oil value chain, from production to export.
Currently, the terminal generates 15 megawatts of gas-fired power for its operations, reducing energy costs and emissions. In addition, Green Energy is developing a gas processing and methanol plant and a mini-LNG facility. Discussions are also underway with the African Export-Import Bank for a $20 million financing package. Furthermore, plans are advancing for an industrial park to supply gas to manufacturers.
This new oil terminal in Nigeria ultimately marks a bold step towards energy self-sufficiency and sustainable industrial growth. Expanding capacity and fostering collaboration strengthen Nigeria’s role as a rising force in the global energy market.