President Bola Tinubu will on Wednesday, October 8, commission the $400 million Otakikpo Onshore Crude Oil Export Terminal in Rivers State, marking Nigeria’s first new crude export facility in more than half a century. The terminal, developed by Green Energy International Limited (GEIL) in partnership with private investors, represents a significant step toward modernizing the country’s energy export infrastructure, The Nation reported.
The Otakikpo terminal has already begun operations, with GEIL completing its first crude export earlier in June, demonstrating readiness ahead of formal commissioning, as reported by The Energy Year. Designed to handle up to 360,000 barrels per day, the facility is expected to unlock output from more than 40 marginal fields previously constrained by limited access to export pipelines, Argus Media highlighted.
Petroleum Minister of State Heineken Lokpobiri welcomed the project, describing it as “a new chapter for Nigeria’s oil and gas industry that will enhance revenues, attract investment, and restore confidence in our export operations.” He said the terminal will also serve as a strategic alternative to aging routes vulnerable to theft and sabotage.
Analysts note that beyond easing pressure on existing terminals such as Bonny and Forcados, the facility could boost investor confidence and strengthen Nigeria’s efforts to meet its OPEC production quota. They caution, however, that sustaining operations will require reliable supply and protection against the challenges that have long undermined the country’s oil exports.
