President Bola Ahmed Tinubu has inaugurated the $400 million Otakikpo crude oil export terminal built by Green Energy International Limited (GEIL) in Rivers State, marking Nigeria’s first indigenous onshore crude export facility in over five decades. The project is a major milestone in the Federal Government’s efforts to strengthen indigenous participation in the oil and gas sector, expand export capacity, and boost national revenue through increased crude production.
The new facility, which has a current storage capacity of 750,000 barrels with plans to expand to 3 million barrels, can load up to 360,000 barrels of crude per day. It is designed to provide a vital evacuation route for over 40 stranded oil fields in the region, reducing congestion on existing infrastructure and cutting operational costs for local producers. During the commissioning, President Tinubu reaffirmed his administration’s resolve to address long-standing issues in Ogoni land and ensure lasting peace and development in the area.
Industry experts, including the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), hailed the development as a demonstration of Nigeria’s growing technical capacity and local innovation. They noted that the project will diversify the country’s crude export hubs, strengthen its energy security, and attract new investments under President Tinubu’s Renewed Hope economic agenda.
