Blessing Ibunge in Port Harcourt

President Bola Tinubu has inaugurated the $400million Green Energy International Limited (GEIL) Otakikpo Onshore Crude Oil Export Terminal, in Andoni Local Government Area of Rivers State.

The terminal, being the first indigenous one, came five decades after the previous ones.

Represented by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Tinubu said that with the resolution of the issues, especially that of Ogoni, the Otakikpo terminal will evacuate the crude oil produced from their land.

He said, “I need to state that in the commitment of the government that is already talking with the Ogoni people to resolve the Ogoni problem. And once the Ogoni problem is resolved, this will be the best terminal that will evacuate the crude oil we produce from Ogoni”.

The President, who sought the cooperation of Ogoni leaders for the production of the crude oil in their land, noted that the resource would never be beneficial to either the indigenes or the government when it lies idle.

Tinubu said, “And that is why we are calling, talking with Ogoni people, Ogoni leaders, to say let’s revert back. If these things are buried there forever, Ogoni will never get any value from those resources. Nigeria will never get any value from those resources.”

He said the era of battling with a lack of finance is over as the $5 billion African Energy Bank (AEB) is about to commence operations.

According to him, the worst challenge in the upstream operation is access to finance, and the promoters of AEB have met all its obligations for the operations.

“Let me also, assure Green Energy that the era of perhaps looking elsewhere for finance will soon be over.

“We have discovered that the biggest challenge we have in Africa is access to, you know, finance. And that was why we’ve come up with the African Energy Bank, which is ready to go. Nigeria, as the host country, has met its obligations.

“We have met all our obligations, legal, financial. We have met all our obligations. We are waiting, you know, for the bank to take off, which I think will take off, you know, any moment from now.”

He commended the management of GEIL, recalling that the indigenous firm started from a marginal field the same time as other awardees who spent their finances on private jets, while GEIL decided to build an export terminal to create value in the industry.

He assured the company and other operators that are keeping to the terms of their licenses of total support and collaboration.

The Chief Executive Officer of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, said the terminal is historic on two levels.

According to him, it expands Nigeria’s crude export infrastructure at a critical time and demonstrates the capacity of Nigerian operators to deliver world-class projects once thought possible only for international major players.

He further noted that the Otakikpo terminal is significant to the present national crude oil production, that is, about 1.8million barrels, because the efficiency of evacuation and export is critical.

Komolafe also said that by creating an alternative export hub in Rivers State, the Otakikpo terminal reduces over-reliance on existing terminals, many of which are operating at near capacity and are exposed to security and pipeline challenges.

He stressed that the industry’s indigenous operators have evolved to the stage of accounting for 30% of the national production.

Meanwhile, the GEIL Chief Executive Officer, Prof Anthony Adegbulugbe, revealed that the storage capacity of the terminal is 750,000 barrels, which is expandable to 3 million barrels.

He also said it has a pumping capacity of 360,000bpd. The CEO added that since June 2025, the company has already completed four export operations, totaling one million barrels of crude oil.

He said beyond the numbers, the terminal is a catalyst for national renewal as it opens the door for more than 40 stranded fields in the region, with over 3 million barrels of reserves, long held back by a lack of export infrastructure.

According to him, the fields alone could contribute more than 200,000 barrels per day to the country’s production. “With this terminal, their potential can finally be unlocked.”

In his speech, CEO of Lekoil, Lekan Akinyanmi said the inauguration of the export channel, through which Lekoil evacuates crude oil from the Otakikpo field, is in line with ongoing reforms to expand Nigeria’s production capacity towards Nigeria’s economic development.

Akinyanmi stated that, “the Otakikpo Onshore Crude Oil Export Terminal is not just infrastructure; it is a symbol of progress, credibility, and the determination of indigenous producers to deliver value on a global stage.”

He however, praised President Tinubu and the leadership of the Nigerian Upstream Petroleum Regulatory Commission for creating an enabling environment, saying that the terminal represents a validation of the company’s commitment to consistency and building lasting value.

“The commissioning of the Otakikpo Onshore Crude Oil Export Terminal is a proud moment for Lekoil. It validates our commitment to building lasting value as an indigenous producer, delivering our crude to the market reliably while supporting our host communities and Nigeria’s broader energy ambitions. This milestone is a clear indication that Lekoil represents resilience, responsibility, and results,” Akinyanmi stated.

Lekoil, along with Green Energy International Limited, her joint venture partner on the Otakikpo field (PML 11), has consistently demonstrated that indigenous oil and gas companies can operate at world-class standards, unlock resources, advance community development, and contribute to national production growth.

According to Akinyanmi, with the unveiling of the terminal, Lekoil can now maximise the potential of Otakikpo, widely regarded as a prolific area for oil and gas nestled in the southeastern part of the Niger Delta basin, and ensure secure, efficient evacuation and re-enforce its reputation as a reliable supplier of Nigerian crude.

“This achievement underscores Lekoil’s place as a trusted and responsible operator with a long-term commitment to Nigeria’s energy security and economic growth and its vision: to be the world’s leading exploration and production company focused on Africa”, Akinyanmi added.

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