𝐓𝐢𝐧𝐮𝐛𝐮 𝐭𝐨 𝐢𝐧𝐚𝐮𝐠𝐮𝐫𝐚𝐭𝐞 $𝟒𝟎𝟎𝐦 𝐑𝐢𝐯𝐞𝐫𝐬 𝐜𝐫𝐮𝐝𝐞 𝐞𝐱𝐩𝐨𝐫𝐭 𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐥

President Bola Tinubu is scheduled to inaugurate the $400m Otakikpo Onshore Crude Oil Export Terminal in Rivers State on October 8, the first new crude export facility to be built in Nigeria in over 50 years.

The facility, developed by Green Energy International Limited, operators of the Otakikpo field in OML 11, Ikuru town, Andoni Local Government Area of Rivers State, is the first wholly indigenous onshore terminal built in Nigeria. The last such facility, the Forcados Terminal, was commissioned in 1971.

The inauguration is expected to attract top government officials, including the Rivers State Governor, His Excellency, Sir Siminalayi Fubara, the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri and key stakeholders across the oil and gas sector.

According to a statement signed by GEIL’s Executive Director of Legal and Corporate Services, Olusegun Ilori, on Thursday, the terminal aligns with President Tinubu’s drive to boost crude oil production and address Nigeria’s long-standing evacuation challenges.

“This project is a strategic infrastructure that supports the administration’s commitment to raising output while reducing costs,” Ilori said.

Industry operators have consistently highlighted evacuation bottlenecks as a major obstacle to meeting the Federal Government’s production target of three million barrels per day.