Tinubu to Inaugurate $400m Otakikpo Crude Oil Export Terminal in Rivers
President Bola Tinubu will inaugurate the $400 million Otakikpo Onshore Crude Oil Export Terminal in Rivers State on October 8, marking the first new crude export facility to be built in Nigeria in over five decades.
The terminal, developed by Green Energy International Limited (GEIL), operators of the Otakikpo field in OML 11, Ikuru Town, Andoni Local Government Area, is the country’s first wholly indigenous onshore terminal. The last such facility, the Forcados Terminal, was commissioned in 1971.
The event is expected to draw top government officials, including the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, Rivers State Governor Siminalayi Fubara, and key players in the oil and gas industry.
According to GEIL, the project supports the federal government’s agenda to boost crude oil production, reduce costs, and tackle evacuation challenges that have long hindered Nigeria’s ability to meet its production targets.
With an initial storage capacity of 750,000 barrels—expandable to three million barrels—and a loading capacity of 360,000 barrels per day, the Otakikpo terminal is designed to serve as an evacuation hub for more than 40 stranded oil fields. The facility is expected to unlock millions of barrels of crude, lower production costs for indigenous producers, and restore investor confidence in the sector.
Chairman and Chief Executive of GEIL, Professor Anthony Adegbulugbe, described the project as a major national infrastructure milestone with the potential to reshape Nigeria’s oil production landscape.
The commissioning comes as the federal government seeks fresh strategies to combat declining output, pipeline vandalism, oil theft, and other challenges plaguing Africa’s largest oil producer.
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