Tinubu inaugurates Otakikpo Oil Terminal in Rivers, Nigeria’s first new onshore crude export facility in over 50 years, unlocking stranded oil fields

Tinubu inaugurates Otakikpo Oil Terminal in Rivers State on 8 October, marking Nigeria’s first new onshore crude export facility in more than 50 years.

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The $400m Otakikpo Onshore Crude Oil Export Terminal, developed by Green Energy International Limited (GEIL), is located in Ikuru town, Andoni Local Government Area. The last onshore export facility, the Forcados Terminal, was commissioned in 1971.

The inauguration will be attended by top government officials, including the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, Rivers State Governor, Siminalayi Fubara, and industry stakeholders.

According to GEIL’s Executive Director of Legal and Corporate Services, Olusegun Ilori, the terminal is a strategic project aligned with Tinubu’s plan to raise crude oil output and solve Nigeria’s long-standing evacuation challenges.

“This project is a strategic infrastructure that supports the administration’s commitment to raising output while reducing costs,” Ilori said.

The facility will provide a lifeline to more than 40 stranded oil fields by creating a reliable evacuation outlet.

With an initial storage capacity of 750,000 barrels—expandable to three million barrels—and a loading capacity of 360,000 barrels per day, it is expected to slash production costs for indigenous producers.

Chairman of GEIL, Professor Anthony Adegbulugbe, described the terminal as a “game-changing national infrastructure” that will allow stranded oil fields to finally contribute to the economy.

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The development highlights renewed federal efforts to attract investment into Nigeria’s oil sector, which has faced challenges including declining output, oil theft, pipeline vandalism, and rising costs in recent years.