- Tinubu will commission the $400 million Otakikpo oil terminal, unlocking storage and evacuation for more than 40 stranded oil fields.
- The terminal will boost national output, reduce bottlenecks, and lower production costs across the industry.
President Bola Ahmed Tinubu will commission a $400 million Otakikpo oil terminal in Rivers State, marking a breakthrough in Nigeria’s energy infrastructure. This milestone project represents the first indigenous onshore terminal in half a century. Consequently, it strengthens production while creating vital opportunities for stranded oil fields.
President Bola Tinubu will officially inaugurate the Otakikpo Onshore Crude Oil Export Terminal on October 8. The terminal, developed by Green Energy International Limited (GEIL), is based in Ikuru Town, Andoni Local Government Area of Rivers State. Significantly, it is the first oil export terminal built by a wholly indigenous Nigerian company.
The project is historic because Nigeria has not seen such an achievement in 50 years. The last onshore terminal, Forcados, was commissioned in 1971. Therefore, the Otakikpo facility sets a fresh standard for the nation’s oil and gas sector.
For years, operators have identified evacuation challenges as one of the most critical barriers to production. With this new terminal, Nigeria moves closer to producing three million barrels of crude daily.
The Otakikpo terminal begins with a storage capacity of 750,000 barrels, expandable to three million. It also offers a loading capacity of 360,000 barrels per day, improving efficiency and reducing overall production costs.
Professor Anthony Adegbulugbe, Chairman of Green Energy, hailed the project as a “game-changer.” He explained that it delivers storage and a vital pathway for over 40 stranded oil fields. As a result, these fields can now contribute directly to Nigeria’s economy.
The commissioning will draw top government figures, including the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, and Rivers State Governor Siminalayi Fubara. Their attendance highlights the importance of this achievement to the oil and gas industry.
Ultimately, Tinubu’s commissioning of the $400 million Otakikpo oil terminal marks a turning point for Nigeria’s oil industry. The project strengthens production and national energy security by solving evacuation bottlenecks, boosting capacity, and empowering indigenous operators.