Nigeria’s oil and gas sector is set for a historic boost as Green Energy International Limited (GEIL) prepares to launch the $400 million Otakikpo Onshore Crude Oil Export Terminal in Ikuru Town, Andoni Local Government Area of Rivers State. The facility, to be commissioned by President Bola Tinubu on October 8, is Nigeria’s first new crude export terminal in more than 50 years, and the first wholly indigenous-built terminal in the country.
The milestone comes at a time when Nigeria is seeking innovative ways to revive its oil industry and address long-standing challenges such as crude evacuation bottlenecks, pipeline vandalism, and declining production.
According to Olusegun Ilori, Executive Director of Legal and Corporate Services at GEIL, the project directly aligns with the Tinubu administration’s energy agenda. “This terminal is strategic national infrastructure that will cut costs for producers while helping the country achieve higher output,” Ilori said.
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With an initial storage capacity of 750,000 barrels, expandable to three million, and a daily loading capacity of 360,000 barrels, the Otakikpo terminal will serve as an evacuation hub for more than 40 stranded oil fields, unlocking millions of barrels previously inaccessible due to infrastructure gaps.
GEIL’s Chairman and Chief Executive, Professor Anthony Adegbulugbe, described the project as a landmark achievement for indigenous capacity in Nigeria’s oil sector. “This is more than storage infrastructure; it is a platform that allows dozens of fields to finally contribute to national output and the economy,” he noted.
The commissioning is expected to attract top government officials and industry leaders, including Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, Rivers State Governor Siminalayi Fubara, and other key stakeholders across the oil and gas value chain.
The Otakikpo terminal represents not only a breakthrough in Nigeria’s energy infrastructure but also a symbol of how local innovation and indigenous enterprise can reshape the nation’s oil and gas landscape.
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