Barring any unforeseen issue, President Bola Ahmed Tinubu will commission the $400 million Otakikpo On-shore Crude Oil Export Terminal in Rivers state on October 8.
This historic project marks the first crude export facility to be built in Nigeria in over five decades, reinforcing President Tinubu’s commitment to reviving the energy industry and boosting national productivity.
Located in Ikuru town, Andoni local government area, the terminal was developed by Green Energy International Limited (GEIL), the operators of the Otakikpo Field in OML 11.
It represents a major breakthrough for indigenous participation in the oil and gas industry, being the first wholly Nigerian-built on-shore terminal. Recall that the last facility of this kind, the Forcados Terminal, was commissioned as far back as 1971, a gap that underscores the magnitude of this milestone.
President Tinubu’s decision to personally commission the terminal reflects his administration’s hands-on approach to economic diversification and energy reform.
Since taking office, Tinubu has emphasised the importance of maximising Nigeria’s crude output while ensuring that local players take center stage in driving value-creation. This new terminal, not only aligns with his policy of strengthening local content, but also symbolises a new era of self-reliance in the nation’s oil sector.
The inauguration ceremony is expected to draw top government officials, including the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, and Rivers state governor, Siminalayi Fubara, among other key stakeholders.
According to Olusegun Ilori, GEIL’s Executive Director of Legal and Corporate Services, the Otakikpo terminal aligns perfectly with President Tinubu’s ‘Renewed Hope’ agenda, particularly his focus on addressing Nigeria’s crude evacuation challenges.
Over the years, the inability to efficiently evacuate crude from marginal fields has limited production growth. According to observers, this terminal, therefore a strategic solution that will enhance export capacity and ensure uninterrupted production.
Beyond its technical importance, the Otakikpo Terminal represents a broader economic victory for Nigeria. It is expected to generate thousands of direct and indirect jobs, stimulate local economies in Rivers state, and attract further investments into the oil and gas value-chain.
