Nigeria has taken another major step toward its goal of boosting crude oil production to 2.5 million barrels per day (bpd), with the commissioning of the new US$400 million Otakikpo Onshore Terminal in Rivers State, an export facility capable of handling up to three million bpd of crude oil.
Speaking at the inauguration, President Bola Tinubu, represented by the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, described the project as a landmark achievement that showcases the ingenuity and resilience of Nigerian operators in the oil and gas industry.
TheMediaGood Newspaper can report that the facility, developed by Green Energy International Limited, is the first crude export terminal built by an indigenous company in over 50 years, and is expected to serve as a shared evacuation hub for multiple producers operating within the region.
“This commissioning represents not just an industrial milestone, but the power of Nigerian innovation,” the President said.
“For over half a century, no indigenous company has built a crude export terminal of this magnitude. Green Energy has done so, and it proves that local operators can deliver world-class infrastructure.”
Tinubu emphasized that local financing will remain key to sustaining Nigeria’s oil ambitions, hinting that pension funds could play a role in future project financing.
He added that the terminal aligns with the Federal Government’s broader agenda to ramp up production, improve export capacity, and strengthen indigenous participation in the energy sector.
“One of the biggest challenges we face in the oil and gas industry is evacuation. This terminal will not only serve Green Energy but also other operators contiguous to this axis. It aligns perfectly with our goal of expanding critical infrastructure,” Tinubu stated.
The President reaffirmed his administration’s resolve to support indigenous energy investors, reduce production costs, and enhance operational security across oil-producing regions.
Lokpobiri described the project as a “homecoming” for the Niger Delta, saying it demonstrates that Nigerian entrepreneurs can compete globally in oil infrastructure development.
Also speaking, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, said the last major terminals in Nigeria were built in the 1960s and 1970s by multinational firms such as Shell, Chevron, BP, and Agip.
He noted that the new facility has an initial storage capacity of 750,000 barrels, expandable to three million barrels, calling it “a new chapter in the annals of the Nigerian petroleum industry.”
Komolafe commended Prof. Anthony Adegbulugbe, Chairman of Green Energy International, and his team for their vision and patriotism, assuring full regulatory support from the NUPRC.
Tinubu also stressed that despite global shifts toward renewable energy, oil and gas will continue to play a vital role in the global energy mix for decades, urging Nigeria to position itself strategically to benefit from its natural resources.