The Federal Government has inaugurated the $400 million Otakikpo Onshore Crude Oil Export Terminal developed by Green Energy International Limited (GEIL) in Andoni Local Government Area of Rivers State.
President Bola Ahmed Tinubu, represented by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said the project—the first indigenous crude export terminal in five decades—marks a major milestone for Nigeria’s oil and gas industry.
Tinubu reaffirmed his administration’s commitment to resolving the Ogoni issue and ensuring that natural resources benefit both local communities and the nation. He also announced that Nigeria has fulfilled all obligations for hosting the proposed $5 billion African Energy Bank, which will boost financing for African oil and gas projects.
He commended GEIL for investing in export infrastructure and pledged continued government support for indigenous operators that meet regulatory obligations.
Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, described the project as historic, noting that local operators now contribute about 30 percent of Nigeria’s crude output, currently 1.8 million barrels per day.
GEIL’s CEO, Professor Anthony Adegbulugbe, said the terminal has a storage capacity of 750,000 barrels—expandable to 3 million—and will serve over 40 stranded oil fields in the region, potentially adding 200,000 barrels per day to national production.
The facility is expected to boost Nigeria’s export capacity, reduce logistical risks, and strengthen the role of local companies in driving growth in the oil and gas sector.
