Lower Crude Transport Cost Likely As Tinubu Unveils Otakipko Export Terminal October 8

The Otakipko Onshore Crude Oil Export Terminal, set to be officially commissioned by President Bola p Tinubu on October 8, 2025, is expected to lower crude oil evacuation costs in Nigeria, the project’s operator, Green Energy International Limited (GEIL), has stated.

Located in Ikuru town, Andoni local government area of Rivers State, the terminal marks a milestone as the first wholly indigenous onshore crude oil terminal built in Nigeria in more than 50 years.

The executive director of Legal and Corporate Services at GEIL, Olusegun Ilori, stated that the terminal’s commissioning aligns with the government’s broader strategy to boost production and lower operational costs across the oil industry.

The $400 million facility, which started operations from the Otakipko field (PML 11), has an initial storage capacity of 750,000 barrels and plans to expand to three million barrels.

It boasts a loading capacity of 360,000 barrels daily, offering a modern and efficient outlet for evacuating crude oil.

Commenting on the terminal, chairman and CEO of Green Energy and chief host of the commissioning event, Professor Anthony Adegbulugbe, described the terminal as a “game-changing national infrastructure.”

The oil and gas sector has long identified evacuation challenges as a key obstacle to meeting the federal government’s target of producing three million barrels of crude oil daily.
The Otakipko terminal will provide a crucial evacuation point for over 40 previously stranded oil fields, allowing them to unlock millions of barrels of crude trapped in the ground due to a lack of access to export facilities.

“This infrastructure is expected to reduce the cost of crude evacuation, enhance efficiency, and thus support Nigeria’s goal of increasing oil output sustainably,” he stated.

He emphasised that the project opens new economic opportunities by enabling 40 oil fields to finally contribute meaningfully to national production, thanks to the terminal’s evacuation capabilities.

The event will bring together key stakeholders, including the governor of Rivers State, Sir Siminalayi Fubara, senior federal officials, and the minister of state for Petroleum Resources (Oil), Senator Heineken Lokpobiri, underscoring the terminal’s importance to Nigeria’s energy sector and economy.

The Otakipko Crude Oil Terminal represents a major breakthrough in reducing evacuation costs, removing barriers to oil production, and strengthening indigenous participation in the Nigerian oil and gas industry.