President Bola Ahmed Tinubu will next week commission the Otakikpo Onshore Crude Oil Export Terminal in Rivers State, a $400 million project celebrated as a landmark achievement for Nigeria’s energy sector.
Developed by Green Energy International Limited (GEIL), operator of the Otakikpo Field (PML 11) in Ikuru Town, Andoni Local Government Area, the facility is the first indigenous crude oil terminal to be established since the Forcados Terminal was inaugurated in 1971.
GEIL’s Executive Director of Legal and Corporate Services, Olusegun Ilori, described the project as a major step towards achieving the Federal Government’s goal of producing three million barrels of crude per day. He noted that the terminal would resolve long-standing evacuation challenges and provide an outlet for more than 40 stranded oil fields.
“The Otakikpo terminal is expected to provide a lifeline to over 40 stranded oil fields that now have a ready evacuation outlet, unlocking millions of barrels of crude that would otherwise remain trapped,” Ilori said.
The new facility has an initial storage capacity of 750,000 barrels, with the potential to expand to three million barrels, and a loading capacity of 360,000 barrels per day. Experts believe it will ease evacuation bottlenecks and reduce production costs across the oil sector.
The commissioning is expected to draw high-profile stakeholders, including Rivers State Governor Sir Siminalayi Fubara, senior federal government officials, and key industry leaders. The event will be led by the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri.
Chairman and Chief Executive Officer of GEIL, Professor Anthony Adegbulugbe, described the terminal as a transformative development.
“What we have achieved here is not just a storage solution, but a game-changing infrastructure that has opened a new pathway for about 40 stranded oil fields to finally contribute to the economy,” Adegbulugbe said.
With the commissioning of the Otakikpo Terminal, Nigeria is set to strengthen its crude export capacity while advancing indigenous participation and investment in the oil industry, signalling renewed confidence in the sector’s future.
