President Bola Tinubu, represented by Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, commissioned the $400 million Otakikpo Onshore Terminal in Rivers State on Wednesday, a facility built by Green Energy International Limited with an expandable capacity of three million barrels per day (bpd).
The terminal, the first of its kind developed by an indigenous company in over 50 years, is set to boost Nigeria’s oil production to 2.5 million bpd and revive exploration in Ogoni Kingdom.
Tinubu hailed the project as a milestone showcasing Nigerian innovation, emphasizing its role in enhancing crude evacuation for Green Energy and other local operators.
“This terminal addresses one of our biggest challenges—evacuation—while aligning with our goal to ramp up production and expand infrastructure,” he said, advocating for local financing, including pension funds, to support oil exploration amid global financing constraints.
Lokpobiri called the terminal a “homecoming” for the Niger Delta, underscoring its proof of local entrepreneurs’ ability to meet global standards.
He stressed that oil and gas remain vital to the global energy mix, citing Senegal’s $8 billion investment projected to yield $40 billion over 25 years, and reaffirmed government support for indigenous firms through cost reduction, enhanced security, and stronger export infrastructure.
NUPRC Chief Executive Gbenga Komolafe noted that the terminal, with an initial capacity of 750,000 barrels, marks a new chapter for Nigeria’s petroleum industry, previously dominated by multinational terminals built in the 1960s and 1970s.
He commended Green Energy’s Chairman, Prof. Anthony Adegbulugbe, for the firm’s resilience and pledged full regulatory support.
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