President Bola Tinubu will on October 8 commission the $400 million Otakikpo Onshore Crude Oil Export Terminal in Rivers State, marking Nigeria’s first new crude export facility in over five decades.
The terminal, built by Green Energy International Limited (GEIL) in Ikuru Town, Andoni LGA, is Nigeria’s first wholly indigenous onshore terminal since the Forcados facility launched in 1971.
With an initial storage capacity of 750,000 barrels, expandable to 3 million barrels, and a loading capacity of 360,000 barrels per day, the new terminal will provide a crucial export outlet for over 40 stranded oil fields , a move expected to boost production, cut costs, and attract new investment.
GEIL Chairman, Prof. Anthony Adegbulugbe, hailed the project as a “game-changing infrastructure” that will help Nigeria overcome long-standing crude evacuation challenges and revive confidence in the oil sector.
