Fidelity Bank Plc has achieved a landmark milestone by facilitating the construction of Nigeria’s first privately built and operated onshore crude export terminal in over five decades. The terminal, strategically located at the Otakikpo Marginal Field in Rivers State and operated by Green Energy International Limited (GEIL), marks a transformative moment for the nation’s oil and gas sector.
The facility successfully exported its first crude oil cargo on June 8, 2025, when a Shell-chartered vessel lifted the maiden shipment at 2pm, signaling a new era in Nigeria’s energy infrastructure development. This achievement represents the first crude terminal developed by a private operator on the African continent.
Dr. Nneka Onyeali-Ikpe, Managing Director/CEO of Fidelity Bank, emphasized the strategic importance of the partnership: “Our collaboration with Green Energy International underscores our confidence in the ability of indigenous companies to drive progress in the country’s energy sector. This terminal will significantly boost Nigeria’s energy security and reflects Fidelity Bank’s deep-rooted mission to help businesses thrive and economies prosper.”
The terminal boasts impressive specifications with an initial storage capacity of 750,000 barrels, expandable to 3 million barrels, and a loading capacity of 360,000 barrels per day. The facility is designed to handle up to 250,000 barrels per day of crude injection, while the Otakikpo field currently produces approximately 10,000 barrels per day.
Prof. Anthony Adegbulugbe, GEIL’s chairman, described the achievement as “a historic milestone made possible by divine intervention, the hard work of our team, and regulatory support.” He noted that the terminal was constructed in under two years, demonstrating the efficiency of indigenous technical capabilities.
The strategic value extends beyond immediate operations. The terminal provides a crucial evacuation route for more than 40 nearby stranded fields, collectively holding an estimated 3 billion barrels of oil equivalent. This development is expected to strengthen production and export capabilities while reducing reliance on offshore facilities.
Industry analysts view this development as a catalyst for attracting fresh investment into Nigeria’s oil sector. With growing global demand for African crude oil, the Otakikpo terminal positions Nigeria to capitalize on international energy market opportunities while enhancing domestic production capabilities.
The project aligns with Nigeria’s long-term energy goals and demonstrates the potential for private sector-led infrastructure development in the oil and gas industry. The success of this initiative could serve as a blueprint for similar projects across the continent, potentially revolutionizing how African nations develop their energy infrastructure.
Economic implications include job creation in the local community, increased government revenue through enhanced oil evacuation, and improved energy security. The facility also supports the broader objective of maximizing production from previously stranded assets.
Looking ahead, the terminal’s expandable capacity and strategic location position it as a key hub for regional oil exports. The success of this public-private partnership demonstrates the viability of indigenous financing and technical expertise in delivering world-class energy infrastructure.
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