By JKNewsMedia
A MAJOR leap in Nigeria’s energy infrastructure has emerged with Fidelity Bank Plc backing the country’s first privately built and operated onshore crude oil export terminal in over 50 years.
Situated at the Otakikpo Marginal Field in Rivers State, the terminal is operated by Green Energy International Limited (GEIL).
It recorded its first crude export at 2.00pm on Sunday, 8 June 2025, as a Shell-chartered vessel lifted the maiden cargo, a significant landmark for the nation’s oil and gas sector.
Dr Nneka Onyeali-Ikpe, Fidelity Bank’s Managing Director/CEO, stated that the institution’s support for GEIL aligns with its belief in the capacity of local firms to transform Nigeria’s energy ecosystem.
She highlighted the terminal’s storage capacity of 750,000 barrels, with future scalability to 3 million barrels and its daily loading capability of 360,000 barrels as central to enhancing the country’s energy security.
According to her, the project embodies the bank’s mission to enable individuals to grow, businesses to thrive, and economies to prosper, marking a fresh chapter for indigenous enterprise within the oil and gas landscape.
Describing the commissioning as historic, GEIL’s Chairman, Prof Anthony Adegbulugbe, attributed the success to divine guidance, regulatory support, and the dedication of the company’s indigenous technical team.
He confirmed that the terminal, which was delivered in less than two years, stands as the first of its kind by a private operator anywhere in Africa.
He adds that the infrastructure can manage 250,000 barrels per day of crude injection.
Although Otakikpo currently produces about 10,000 barrels daily, Adegbulugbe reveals that the terminal offers a strategic evacuation route for over 40 surrounding stranded fields, collectively estimated to hold 3 billion barrels of oil equivalent, positioning it as a transformative solution for underutilised reserves.
With global demand rising for African crude, the Otakikpo terminal strengthens Nigeria’s standing in the international oil market, Adegbulugbe said.
He noted also that its operationalisation is expected to reduce reliance on offshore export terminals while stimulating new investments into the sector.
