₦airaland Forum

President Bola Tinubu yesterday commissioned the $400 million Green Energy International Limited (GEIL) crude oil export terminal in Otakikpo crude oil export terminal in Ikuru Town, Andoni Local Government Area of Rivers State, Rivers State, the first by any Nigerian company, and the only one built in the country in over 50 years.

Tinubu described the project, also the first to be fully developed by an indigenous company, Green Energy International Limited (GEIL), as a key achievement that aligns with his administration’s Renewed Hope Agenda, which aims to expand energy infrastructure, deepen local participation, and ensure energy security.

Represented by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, the president said: “This project is very significant because 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 in this region. It aligns perfectly with our objective to ramp up production and showcase the capacity of indigenous companies.”

He reaffirmed that oil and gas will continue to play a crucial role in Nigeria’s development despite global shifts toward renewable energy.

According to him, “Oil and gas will never go away. The International Energy Agency has now admitted that the world must invest over $540 billion yearly in the upstream sector to avoid an energy crisis. We cannot abandon our God-given resources.”


The President also disclosed that the Federal Government was engaging with Ogoni leaders to resolve longstanding issues that have hindered oil production in their communities. “Once the Ogoni issue is resolved, this terminal will serve as a key evacuation point for crude produced there,” he said.

Tinubu further announced that the African Energy Bank, to be hosted by Nigeria, would soon become operational to address Africa’s funding challenges in the energy sector, noting that the country has met all legal and financial obligations.

He urged Niger Delta communities to maintain peace and collaborate with operators, stressing that oil and gas only create value when produced.

Also speaking, Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, described the Otakikpo Terminal as a turning point in Nigeria’s upstream oil landscape.

Komolafe noted that the terminal, with an initial storage capacity of 750,000 barrels and expandable to three million, would enhance Nigeria’s export efficiency, reduce pressure on aging infrastructure, and empower indigenous operators to compete globally.

“For over half a century, our crude export infrastructure has been dominated by Bonny, Escravos, Forcados, Qua Iboe, and Brass terminals, all built by international oil companies.

The commissioning of the Otakikpo Terminal today changes that story and marks the dawn of a new era of indigenous participation, he stated.

Earlier in his remarks, Chairman and Chief Executive Officer of GEIL, Professor Anthony Adegbulugbe, described the commissioning as a historic day that showcases Nigeria’s capacity to deliver world-class oil and gas infrastructure.

He explained that the facility, designed and executed entirely by Nigerian professionals, was completed in less than two years, ahead of schedule.

Adegbulugbe said the terminal would serve as a catalyst for national renewal, unlocking over 40 stranded fields in the region with estimated reserves exceeding three billion barrels of crude oil.

“For over fifty years, Nigeria has relied on only five major onshore crude export terminals. With the commissioning of the Otakikpo Onshore Terminal, that story changes.

“This is the first new onshore terminal in over half a century, and the only one conceived, built, and operated by an indigenous exploration and production company.

These fields alone could contribute more than 200,000 barrels per day to Nigeria’s production,” he said.

Pakute:
https://thesun.ng/tinubu-unveils-400m-otakikpo-oil-terminal-ends-50-year-wait/

Richtaiwo:
God bless president Bola Ahmed Tinubu, GCFR
God bless the Fed Republic of Nigeria
God bless SW SS NC NE and NW

The finishing specialist will soon tell us Nigeria is finished.

Enddy50ty:
Nigeria 🇳🇬 is the only major oil producing country that doesn't refine its own crude oil.
Believe me before you know it Senegal 🇸🇳 will start exporting PMS to Nigeria.

Enddy50ty:
Nigeria 🇳🇬 is the only major oil producing country that doesn't refine its own crude oil.
Believe me before you know it Senegal 🇸🇳 will start exporting PMS to Nigeria.

Enddy50ty:
Nigeria 🇳🇬 is the only major oil producing country that doesn't refine its own crude oil. (Don't quote Dangote)
Believe me before you know it Senegal 🇸🇳 will start exporting PMS to Nigeria.

TimeManager:
Those who have foresight would really appreciate the decision of the President to liberalize the oil and gas sector. Industry players now enjoy the incentives of operating on a level playing field. In addition to being the first ever indigenous export terminal, we also have the first ever indigenous refinery and more indigenous investors currently constructing their refineries.
Also, the Administration has made it seamless for local investors to acquire offshore assets of the International Oil Companies, making indigenous investors become big players in the sector.
This development would inspire more local investors to build more export terminals, sufficiently increase crude oil production, supply more crude to local refineries, earn more foreign exchange thereby strengthening the value of the naira. Already, the Government of Senegal has indicated interest in buying crude oil from Nigeria to feedstock its refinery. God bless Nigeria.

-Kiss the truth!

Richtaiwo:
God bless president Bola Ahmed Tinubu, GCFR
God bless the Fed Republic of Nigeria
God bless SW SS NC NE and NW

The finishing specialist will soon tell us Nigeria is finished.

Enddy50ty:
Nigeria 🇳🇬 is the only major oil producing country that doesn't refine its own crude oil. (Don't quote Dangote)
Believe me before you know it Senegal 🇸🇳 will start exporting PMS to Nigeria.

Czarugo007:
if nairaland is serious about hate speech cyber stalking,they should’ve barred this person.

donleo92:
See tinubu is actually working if we go by media and other social outlet.

But it's not reflecting on the people, that's my problem

Enddy50ty:
Nigeria 🇳🇬 is the only major oil producing country that doesn't refine its own crude oil. (Don't quote Dangote)
Believe me before you know it Senegal 🇸🇳 will start exporting PMS to Nigeria.

Richtaiwo:
God bless president Bola Ahmed Tinubu, GCFR
God bless the Fed Republic of Nigeria
God bless SW SS NC NE and NW

The finishing specialist will soon tell us Nigeria is finished.

[/quote]Obasanjo Yardua n Ebele.


[quote author=Enddy50ty post=137072277]Nigeria 🇳🇬 is the only major oil producing country that doesn't refine its own crude oil. (Don't quote Dangote)
Believe me before you know it Senegal 🇸🇳 will start exporting PMS to Nigeria.

donleo92:
See tinubu is actually working if we go by media and other social outlet.

But it's not reflecting on the people, that's my problem

Richtaiwo:
God bless president Bola Ahmed Tinubu, GCFR
God bless the Fed Republic of Nigeria
God bless SW SS NC NE and NW

The finishing specialist will soon tell us Nigeria is finished.

donleo92:
See tinubu is actually working if we go by media and other social outlet.

But it's not reflecting on the people, that's my problem

Thunderfayamods:
Our brothers from that side will not like this, all they want to hear are bad news about their country. They will never rule this country!