Nigeria strengthens oil export chain with new 365,000-bpd Otakikpo terminal
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The $400 million facility, located in Ikuru Town, Andoni Local Government Area, can handle 365,000 barrels per day. It is the first onshore oil terminal built in Nigeria in 50 years.
Femi Fabunmi
The Federal Government has announced that the new Otakikpo Oil Export Terminal in Rivers State will make it easier to transport crude oil and increase Nigeria’s export capacity.
The $400 million facility, located in Ikuru Town, Andoni Local Government Area of the state, can handle 365,000 barrels per day. It is the first onshore oil terminal built in Nigeria in 50 years.
President Bola Tinubu, represented by the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, described the project as a major step toward improving Nigeria’s oil production and export systems.
He said the terminal will also serve as a new route to move crude oil from Ogoniland and nearby areas.
“This project supports our goal to increase oil production, expand export facilities, and promote local investment,” Tinubu said. “It will unlock large oil reserves and add value to the nation’s economy.”
Professor Anthony Adegbulugbe, Chairman and CEO of Green Energy International Limited (GEIL), said the project was fully developed and completed by Nigerians within two years faster than expected.
He explained that the terminal can store 750,000 barrels of oil, with room to expand to three million barrels, and can pump 360,000 barrels per day. Since operations began in June 2025, more than one million barrels of crude oil have already been exported through the terminal.
Adegbulugbe added that the facility could help produce oil from over 40 previously stranded fields in the region, which together hold about three billion barrels of reserves, potentially boosting Nigeria’s output by 200,000 barrels per day.
Engr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said the terminal is a major success for local oil companies.
He noted that it gives producers another export option, reduces dependence on old facilities, lowers costs, and it will improve the overall efficiency of Nigeria’s crude oil exports.
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