FG INAUGURATES $400 MILLION OTAKIKPO ONSHORE CRUDE OIL EXPORT TERMINAL IN RIVERS
President Bola Ahmed Tinubu, represented by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has inaugurated the $400 million Otakikpo Onshore Crude Oil Export Terminal, developed by Green Energy International Limited (GEIL) in Andoni Local Government Area of Rivers State.
The terminal, described as the first indigenous crude oil export terminal to come onstream in five decades, marks a major milestone in Nigeria’s oil and gas industry.
In his remarks, President Tinubu reaffirmed the federal government’s commitment to resolving the longstanding Ogoni issue, emphasizing that natural resources should not remain idle to the detriment of both the people and the nation.
He called for the cooperation of Ogoni leaders, stressing that the development of crude oil resources in their land would yield tangible benefits for the community and Nigeria as a whole. The President also highlighted progress on the establishment of the $5 billion African Energy Bank (AEB), noting that Nigeria, as host country, has fulfilled all its legal and financial obligations.
According to him, the bank will address one of Africa’s biggest challenges—access to finance for upstream oil and gas projects—and will commence operations soon.
He commended the management of GEIL for its vision and commitment, contrasting its strategic investment in export infrastructure with other companies that diverted resources to less productive ventures. He also assured indigenous operators who adhere to their license obligations of the government’s full support and collaboration.
The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, described the commissioning as historic, noting that it expands Nigeria’s crude export infrastructure at a critical time. He said the project demonstrates that Nigerian companies are capable of executing world-class oil and gas projects, once thought achievable only by international oil majors.
Komolafe also noted that indigenous operators now contribute about 30 percent of Nigeria’s total crude oil production, currently estimated at 1.8 million barrels per day. He added that the new facility reduces dependence on existing terminals, which are already operating near capacity and face security and logistical challenges.
GEIL’s Chief Executive Officer, Professor Anthony Adegbulugbe, explained that the Otakikpo terminal has a storage capacity of 750,000 barrels, expandable to 3 million barrels, and a pumping capacity of 360,000 barrels per day. Since June 2025, the company has completed four export operations, totaling one million barrels of crude oil.
Adegbulugbe said the terminal will serve as a catalyst for national growth, providing the much-needed export outlet for over 40 stranded oil fields in the region with an estimated 3 million barrels of reserves. These fields alone, he noted, could contribute more than 200,000 barrels per day to Nigeria’s total production once fully developed.
Also speaking at the event, Lekoil’s Chief Executive Officer, Lekan Akinyanmi, whose company co-operates the Otakikpo field with GEIL, described the new export terminal as a symbol of progress and a demonstration of the resilience of indigenous oil producers. He said the project validates Lekoil’s commitment to operational excellence, reliable crude delivery, and sustainable community development. According to him, the commissioning of the Otakikpo terminal is a proud moment for Lekoil and for Nigeria, as it reinforces the country’s capacity to expand production and secure its energy future.
The inauguration of the Otakikpo Onshore Crude Oil Export Terminal represents a significant step forward for Nigeria’s oil and gas sector, enhancing export capacity, reducing logistical risks, and strengthening the role of indigenous operators in driving national economic growth.
