Nigeria Builds First Oil Export Terminal in 50 Years,  NUPRC Chief

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has announced that Nigeria has constructed its first new crude oil export terminal in more than 50 years, the Otakikpo Onshore Terminal in Rivers State.

Speaking at the commissioning of the $400 million facility, Komolafe described it as a “historic milestone” for Nigeria’s energy sector, showcasing the capacity of indigenous companies to undertake large-scale oil infrastructure projects previously dominated by international firms.

“For over half a century, no new crude export terminal has been added to our map,” Komolafe said. “The commissioning of the Otakikpo Terminal is a landmark achievement for us as Nigerians.”

Developed by Green Energy International Limited (GEIL), the terminal has an initial storage capacity of 750,000 barrels, expandable to three million barrels. Located in Ikuru Town, Andoni Local Government Area, it is expected to enhance Nigeria’s crude evacuation efficiency and support the Federal Government’s goal of raising production to 2.5 million barrels per day.

Komolafe explained that the new terminal would reduce dependence on aging facilities like Bonny, Escravos, and Forcados, which were built between the 1960s and 1970s. It also provides indigenous producers with cheaper and more secure export alternatives.

He noted that the project aligns with President Bola Tinubu’s Renewed Hope Agenda, aimed at boosting oil output, strengthening infrastructure, and empowering local operators.

Beyond its economic value, Komolafe said the facility would stimulate local development through job creation in logistics, catering, and security, reinforcing GEIL’s partnership with host communities.

He added that indigenous firms now contribute over 30% of Nigeria’s oil production, marking a “quiet revolution” in the nation’s petroleum sector.

“The success of this project demonstrates how bold reforms and visionary leadership can reshape Nigeria’s energy landscape,” Komolafe concluded.