Komolafe who reflected on how previous major terminals, constructed from the 1960s through 1970s, were developed by multinational oil firms such as Shell, Chevron, BP, and Agip, said the Otakikpo terminal marks the origin of milestone in the history of Nigeria’s petroleum industry.
Highlighting the terminal’s strategic importance, Komolafe noted its alignment with Nigeria’s near-term crude oil production target of 1.8 million barrels per day, ensuring efficient evacuation capacity to support national output growth.
The new export hub, he said, lessens the risk of security issues and pipeline disruptions by diversifying export points beyond the traditional terminals in Rivers State with it’s impact extending beyond export volumes and unlocking over 40 stranded oil fields in the region, with estimated reserves exceeding three billion barrels.
Moreso is that the indigenous terminal boasts a storage capacity of 750,000 barrels—expandable to three million barrels—and a pumping capacity of up to 360,000 barrels per day.
Komolafe described the terminal as “historic on two levels,” emphasising its critical role in expanding Nigeria’s export infrastructure at a time when existing facilities such as the Bonny and Forcados terminals are congested and operating close to capacity.
He explained that Otakikpo significantly reduces dependence on these overburdened terminals, cutting costs and eliminating delays, which enhances the efficiency and security of Nigeria’s crude exports.
Also speaking, the Chairman and Chief Executive Officer (CEO), Green Energy International Limited (GEIL), the indigenous company behind Otakikpo, Prof. Anthony Adegbulugbe, described the project as a symbol of Nigerian ingenuity and technical expertise.
Adegbulugbe said the terminal, completed ahead of schedule in less than two years and entirely by Nigerian talent, is a testament to the country’s growing capabilities in upstream oil and gas development.
He credited the project’s success to progressive policies under the Renewed Hope Agenda of President Bola Ahmed Tinubu, and reforms instituted by the Petroleum Industry Act (PIA).
The GEIL boss also lauded support from the Ministry of State for Petroleum, led by Dr. Heineken Lokpobiri, and regulatory bodies, including NUPRC and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), whose transparency and clarity helped drove the timely completion of the facility.
Expressing gratitude to the financial community and fellow Exploration and Production (E&P) operators, Adegbulugbe emphasised that the commissioning of Otakikpo is just the beginning of a broader transformation of the energy sector.
He urged industry stakeholders, government, and investors to capitalise on this momentum and fully realise Nigeria’s vast energy potential for national development.
Adegbulugbe further dedicated the terminal’s success to the engineers, workers, visionaries, and the Nigerian people whose collective efforts have inaugurated a new era of indigenous excellence in the country’s upstream oil and gas industry, affirming Nigeria’s readiness to lead and deliver globally competitive energy projects, defining its energy future with local capacity and innovation.
The Otakikpo Terminal, commissioned in Rivers State by President Bola Ahmed Tinubu on Wednesday, October 8, 2025, is not only a landmark achievement that would transform the country’s upstream oil and gas sector but a game-changer for crude export capacity and a bold demonstration of Nigeria’s evolving energy landscape, where indigenous operators are taking centre stage in securing the nation’s oil and gas future.
