Bola Tinubu says Nigeria is in advanced talks with Ogoni leaders to resolve disputes and restart oil production in the region’s dormant fields

Bola Tinubu has revealed that the Federal Government is holding advanced discussions with Ogoni leaders to resolve long-standing disputes that have halted oil production in the region.

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Speaking at the commissioning of the Otakikpo Crude Oil Export Terminal in Rivers State on Wednesday, the President said the move forms part of efforts to restore peace and unlock the vast economic potential of Nigeria’s Niger Delta.

Represented by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Bola Tinubu said that oil and gas will remain central to the global energy mix for decades, despite the growing push for clean energy.

He noted that the International Energy Agency (IEA) had projected that the world must invest about $540 billion annually in upstream oil and gas projects over the next 25 years to avert a major energy crisis.

“This underscores the enduring relevance of Nigeria’s oil reserves and justifies our ongoing engagement with host communities, particularly the Ogoni people, to resume production in dormant fields,” he said.

The President maintained that hydrocarbons would continue to play a vital role in Nigeria’s economic recovery. “Oil and gas will never go away,” Tinubu declared.

“For years, we were told to abandon our oil in the name of energy transition, but the world now realises that these resources are indispensable.”

He explained that once peace is achieved in Ogoniland, the newly commissioned Otakikpo terminal would serve as the main evacuation point for crude oil from the area a move he described as “strategic and timely.”

The $400 million terminal, located in Ikuru Town, Andoni Local Government Area, was developed by Green Energy International Limited, marking the first indigenous-built export facility in over five decades.

Tinubu praised the company’s efforts, describing the project as a “bold milestone” in Nigeria’s energy history. “This commissioning opens a new chapter in our oil and gas journey. Green Energy’s achievement shows the strength of Nigerian innovation and resilience,” he said.

Lokpobiri emphasised that the terminal will ease crude evacuation bottlenecks, serve multiple operators, and boost national production in line with Executive Order 1, which seeks to create a friendlier business environment.

He also revealed that Nigeria has met all its commitments to host the African Energy Bank, which aims to fund major energy projects across the continent. “Access to finance has always been Africa’s biggest challenge. This bank will change that,” he said.

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, described the new terminal as a historic milestone that marks Nigeria’s first shore-based crude export facility in more than 50 years.

He said the development would enhance production capacity, reduce dependence on ageing terminals, and empower indigenous operators by cutting transportation costs and improving margins.

“This is not just a ribbon-cutting ceremony,” Komolafe noted. “It is a statement that Nigerian companies can build, manage, and operate world-class infrastructure.”

Prof Anthony Adegbulugbe, Chairman and CEO of Green Energy International, called the achievement a defining moment for Nigerian engineering and enterprise.

“For over fifty years, our onshore exports depended on facilities owned by international oil majors. This terminal changes that,” he said. “It was conceived, designed, and delivered 100 per cent by Nigerian talent.”

He added that the terminal could unlock more than 40 stranded oilfields across the Niger Delta, holding an estimated **three billion barrels of crude, with potential output of 200,000 barrels per day.

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Tinubu concluded by urging host communities to maintain peace and collaborate with investors. “If these resources remain underground, no one benefits — not Ogoni, not Nigeria. We must work together to unlock our nation’s energy wealth,” he said.