Tinubu to Unveil $400m Indigenous Oil Terminal — First in 50 Years.

For the first time in over half a century, Nigeria is set to commission a brand-new crude oil export terminal. President Bola Tinubu will unveil the $400m Otakikpo Onshore Terminal in Rivers State on October 8. Developed by Green Energy International Limited, the project is the first wholly indigenous onshore crude terminal since the Forcados Terminal was launched in 1971. Officials say the terminal will ease long-standing evacuation bottlenecks, cut costs, and help Nigeria push toward its bold production target of three million barrels per day. With oil still Nigeria’s biggest revenue source, many see this as a game-changer for the industry. But others ask: will this new facility really transform the economy, or just add to the story of big oil promises?