President Bola Tinubu has inaugurated the $400 million Green Energy International Limited (GEIL) crude oil export terminal in Otakikpo, Rivers State, the first wholly Nigerian-built facility and the country’s first new terminal in more than five decades. Represented by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Tinubu said the terminal marks a new era for indigenous participation and energy infrastructure efficiency. He emphasized that the project will enable secure crude evacuation for both GEIL and several stranded marginal fields across the Niger Delta, unlocking billions in reserves and boosting production.
The terminal, with an initial storage capacity of 750,000 barrels expandable to three million and a pumping rate of 360,000 barrels per day, is expected to relieve existing evacuation bottlenecks. Tinubu reaffirmed his administration’s resolve to strengthen local operators through transparent fiscal incentives and the forthcoming $5 billion African Energy Bank to ease sector financing.
NUPRC Chief Executive, Gbenga Komolafe, hailed the terminal as a milestone in expanding Nigeria’s export capacity and reducing dependence on international oil company infrastructure, noting that indigenous operators now contribute 30% of national output.
