President Bola Tinubu will inaugurate the $400 million Otakikpo Onshore Crude Oil Export Terminal in Rivers State on October 8—the first new crude export terminal built in Nigeria in over 50 years.
Developed by Green Energy International Limited (GEIL), the facility is also Nigeria’s first wholly indigenous onshore terminal since Forcados was commissioned in 1971.
Located in Ikuru Town, Andoni LGA, the terminal is expected to ease longstanding crude evacuation challenges and support over 40 stranded oil fields, boosting production and lowering costs for local producers.
With a storage capacity of 750,000 barrels (expandable to 3 million) and a loading capacity of 360,000 barrels per day, the terminal is part of efforts to revive investor confidence in Nigeria’s oil sector.
GEIL Chairman, Prof. Anthony Adegbulugbe, called it a “game-changing national infrastructure,” while GEIL’s Executive Director, Olusegun Ilori, said it aligns with Tinubu’s push to raise output and improve industry efficiency.
Top government officials, including the Minister of State for Petroleum (Oil) and Rivers State Governor, are expected at the event.
