Korede Abdullah LAGOS, Nigeria – President Bola Ahmed Tinubu will on 8 October 2025 commission Nigeria’s first indigenous onshore crude oil export terminal in over 50 years, the Otakikpo Terminal, located in Ikuru Town, Rivers State.
Developed at a cost of $400 million by Green Energy International Limited (GEIL), operator of the Otakikpo Field PML 11, the terminal is the first built since the Forcados facility in 1971.
According to a statement from GEIL, the ceremony will be attended by Rivers Governor Siminalayi Fubara, senior government officials, and oil industry stakeholders, including Minister of State for Petroleum (Oil) Senator Heineken Lokpobiri.
Olusegun Ilori, GEIL’s Executive Director of Legal and Corporate Services, explained that the project supports Tinubu’s push to expand production and resolve evacuation bottlenecks that hinder Nigeria from meeting its three million barrels per day target.
With a storage capacity of 750,000 barrels—expandable to three million—and a loading capacity of 360,000 barrels daily, the Otakikpo Terminal will serve as an outlet for over 40 stranded oil fields.
“This initiative directly supports the government’s objective of lowering production costs and ensuring that otherwise locked-in crude oil contributes to the economy,” Ilori said.
GEIL Chairman, Professor Anthony Adegbulugbe, hailed the facility as “a game-changing national infrastructure that opens a pathway for stranded oil fields to drive growth.”
Industry analysts expect the terminal to boost Nigeria’s revenues and strengthen energy security.
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