The Otakipko Onshore Crude Oil Export Terminal, set to be formally commissioned by President Bola p Tinubu on October 8, 2025, is anticipated to decrease crude oil evacuation prices in Nigeria, the undertaking’s operator, Inexperienced Power Worldwide Restricted (GEIL), has said.
Positioned in Ikuru city, Andoni native authorities space of Rivers State, the terminal marks a milestone as the primary wholly indigenous onshore crude oil terminal in-built Nigeria in additional than 50 years.
The manager director of Authorized and Company Providers at GEIL, Olusegun Ilori, said that the terminal’s commissioning aligns with the federal government’s broader technique to spice up manufacturing and decrease operational prices throughout the oil business.
The $400 million facility, which began operations from the Otakipko subject (PML 11), has an preliminary storage capability of 750,000 barrels and plans to broaden to 3 million barrels.
It boasts a loading capability of 360,000 barrels every day, providing a contemporary and environment friendly outlet for evacuating crude oil.
Commenting on the terminal, chairman and CEO of Inexperienced Power and chief host of the commissioning occasion, Professor Anthony Adegbulugbe, described the terminal as a “game-changing nationwide infrastructure.”
The oil and fuel sector has lengthy recognized evacuation challenges as a key impediment to assembly the federal authorities’s goal of manufacturing three million barrels of crude oil every day.
The Otakipko terminal will present an important evacuation level for over 40 beforehand stranded oil fields, permitting them to unlock tens of millions of barrels of crude trapped within the floor attributable to a scarcity of entry to export services.
“This infrastructure is anticipated to scale back the price of crude evacuation, improve effectivity, and thus assist Nigeria’s aim of accelerating oil output sustainably,” he said.
He emphasised that the undertaking opens new financial alternatives by enabling 40 oil fields to lastly contribute meaningfully to nationwide manufacturing, because of the terminal’s evacuation capabilities.
The occasion will convey collectively key stakeholders, together with the governor of Rivers State, Sir Siminalayi Fubara, senior federal officers, and the minister of state for Petroleum Assets (Oil), Senator Heineken Lokpobiri, underscoring the terminal’s significance to Nigeria’s vitality sector and financial system.
The Otakipko Crude Oil Terminal represents a serious breakthrough in lowering evacuation prices, eradicating obstacles to grease manufacturing, and strengthening indigenous participation within the Nigerian oil and fuel business.
