President Bola Tinubu has reaffirmed his administration’s commitment to lasting peace in Ogoniland, revealing that advanced talks are underway with Ogoni leaders to resolve long-standing disputes that have stalled oil production in the region.
Speaking at the commissioning of the new Otakikpo Crude Oil Export Terminal in Rivers State, the President, represented by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said Nigeria’s oil and gas sector remains vital to global energy supply despite the world’s gradual shift to cleaner energy sources.
Citing a new report by the International Energy Agency, Tinubu noted that the world will require about $540 billion annually in upstream oil investments over the next 25 years to prevent an energy crisis. He said this projection reinforces the need for Nigeria to strengthen production, particularly through peace and partnership with oil-rich host communities like the Ogoni.
“The Federal Government is already in advanced engagement with Ogoni leaders to find a lasting solution,” he said. “Once resolved, the Otakikpo terminal will serve as the main evacuation point for crude from Ogoniland. This project is both timely and strategic for Nigeria’s production growth.”
Built at a cost of over $400 million by Green Energy International Limited, the Otakikpo Terminal in Ikuru Town, Andoni Local Government Area, is Nigeria’s first wholly indigenous-built crude export terminal in more than 50 years. Tinubu described it as a landmark achievement that will enhance crude evacuation, boost local participation, and reduce reliance on foreign-operated facilities.
He urged host communities in Rivers and the Niger Delta to cooperate with investors to ensure uninterrupted operations. “If these resources remain untapped, nobody benefits—not Ogoni, not Nigeria,” he stressed.
The Minister also disclosed that Nigeria has fulfilled all requirements to host the newly established African Energy Bank, which will provide financing for major energy projects across the continent.
The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, described the Otakikpo Terminal as a historic milestone that signals a new era for indigenous participation in the oil industry. The facility, he said, will help expand crude evacuation capacity, create jobs, and strengthen economic growth in the Niger Delta.
Green Energy’s Chairman, Prof. Anthony Adegbulugbe, said the terminal was conceived, designed, and executed entirely by Nigerians, proving that indigenous companies can deliver world-class energy infrastructure. He added that the project could unlock over 40 stranded oil fields in the region, potentially adding more than 200,000 barrels per day to Nigeria’s production.
He described the commissioning as “a defining moment” that showcases Nigerian capability and marks a new chapter in the country’s energy story.
