In a major step forward for Nigeria’s oil and gas industry, Fidelity Bank Plc has funded the construction of the country’s first privately owned and operated onshore crude oil export facility in over 50 years.
The export facility, located at the Otakikpo Marginal Field in Rivers State and operated by Green Energy International Limited (GEIL), completed its first crude oil shipment on Sunday, June 8, 2025, when a Shell-chartered vessel lifted the maiden cargo, marking a historic milestone for Nigeria’s energy sector.
Commenting on the project, Dr. Nneka Onyeali-Ikpe, Managing Director and CEO of Fidelity Bank, said: “Our partnership with Green Energy International reflects our strong belief in the power of indigenous companies to lead innovation and growth in the energy sector. This export facility will strengthen Nigeria’s energy security, support production, and boost the economy.”
The facility, which has an initial storage capacity of 750,000 barrels (expandable to 3 million), and a loading capacity of 360,000 barrels per day, is expected to ease reliance on offshore terminals and attract more private investment into the sector.
GEIL Chairman, Prof. Anthony Adegbulugbe, described the launch as a breakthrough moment: “This is the first privately constructed onshore crude export facility in Africa. Built in under two years, it’s a testament to what’s possible with strong partnerships, local expertise, and regulatory support.”
Currently producing around 10,000 barrels per day, the Otakikpo field has the potential to support nearby stranded fields with an estimated 3 billion barrels of oil equivalent, helping unlock greater production and export potential.
As global demand for African crude rises, the new export facility positions Nigeria as a more competitive player on the international stage, while aligning with the country’s long-term energy and economic goals.
Fidelity Bank continues to demonstrate leadership in financing large-scale, impact-driven projects that drive national growth and support indigenous capacity.
