President Bola Tinubu is scheduled to commission the $400m Otakikpo Onshore Crude Oil Export Terminal in Rivers State on October 8, the first new crude export facility to be built in Nigeria in over 50 years.

The facility, developed by Green Energy International Limited, operators of the Otakikpo field in OML 11, Ikuru town, Andoni Local Government Area of Rivers State, is the first wholly indigenous onshore terminal built in Nigeria. The last such facility, the Forcados Terminal, was commissioned in 1971.

The inauguration is expected to attract top government officials, including the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, Rivers State Governor, Siminalayi Fubara, and key stakeholders across the oil and gas sector.

The Otakikpo terminal is expected to serve as a lifeline to more than 40 stranded oil fields by providing a reliable evacuation outlet, potentially unlocking millions of barrels of crude previously trapped underground.

With an initial storage capacity of 750,000 barrels, expandable to three million barrels, and a loading capacity of 360,000 barrels per day, the facility is also projected to reduce production costs for indigenous producers significantly.

Chairman and Chief Executive of GEIL, Professor Anthony Adegbulugbe, described the terminal as a “game-changing national infrastructure.”

“What we have achieved here is not just a storage solution, but a pathway for about 40 stranded oil fields to finally contribute to the economy,” Adegbulugbe said.

The commissioning underscores the Federal Government’s renewed efforts to restore investor confidence in Nigeria’s oil sector, which has struggled with declining production, pipeline vandalism, oil theft, and rising operational costs in recent years.

Seplat Energy Plc has said that people, asset integrity, and operational reliability remain central to its strategy for sustainable growth in Nigeria’s energy sector.

The Chief Executive Officer, Mr Roger Brown, said this in a statement on Thursday by Stanley Okpara, Corporate Communications manager, during the 2025 Africa Energy Week Conference and Exhibition in Cape Town, South Africa.

Brown, speaking at a Fireside Chat with the theme; ‘Assets Acquisition Success Strategies: Seplat Energy’, said the company achieved strong growth by acquiring divested assets, unlocking value, and improving efficiency and safety.

He noted that Seplat had successfully integrated major acquisitions over the last decade, boosting efficiency, enhancing safety, and reducing routine emissions across operations.

On its recent acquisition of Mobil Producing Nigeria Unlimited assets, Brown said Seplat quickly re-engaged wells and facilities, achieving immediate results while investing in integrity and reliability.

He emphasised the cultural alignment with new colleagues, whose expertise and insights had enhanced seamless performance across the group.

According to Brown, combining Seplat’s onshore experience with offshore know-how had strengthened operations, already delivering improved cash flows from day one.

He added that a reserves upgrade confirmed significant production potential in oil and gas, with assets close to export infrastructure under Seplat’s control.

Brown said Seplat was confident of increasing production in line with the government’s target of 3.0 MMbbl liquids and expanded gas output for domestic and export markets.

He highlighted the company’s operator mindset, stressing that Seplat acquires assets where its capability can unlock hidden value, particularly mature fields requiring agile management.

The CEO noted Seplat’s track record of reviving onshore assets, maintaining low costs, and strengthening its balance sheet while ensuring dividend returns to investors.

Brown reiterated the company’s commitment to safety and operational excellence, targeting maximum production and cash flows for business resilience.

He said Seplat remained a low-cost operator, capable of weathering price volatility and extended market downturns.

The CEO added that most staff were highly qualified Nigerians, aligned with the company’s vision, ensuring shared success for Seplat and Nigeria’s energy system.

He also affirmed Seplat’s strong leadership pipeline and succession planning.

Seplat’s Chief Financial Officer, Mrs Eleanor Adaralegbe, spoke during a panel on financing upstream projects for domestic energy security.

She said Seplat had raised over $4 billion in debt to fund operations while maintaining a low leverage threshold of below 1.5x through the cycle.

Adaralegbe listed financing options such as IPO, revolving credit facility, bonds, and advance payment facilities, alongside refinancing legacy loans like the $110m RBL.

She added that Seplat secured $320m project financing for ANOH, its joint venture with the Nigerian Gas Infrastructure Company, a subsidiary of NNPC.

Adaralegbe stressed the importance of appealing to international investors due to high borrowing costs in Nigerian banks.

She noted Seplat’s dual listing status had helped it repeatedly refinance, extend maturities, reduce debt costs, and maintain moderate leverage.

She added that Seplat’s credibility with lenders stemmed from asset diversification, steady production, strong financials, low leverage, tax efficiency, and leadership focus.

The Nigerian Export Promotion Council (NEPC) says Nigeria’s non-oil export has risen to $1.791 billion in the first quarter, 2025.

The Chief Executive Officer of the council, Nonye Ayeni, said this at a one-day sensitisation exercise organised by the Council for Sesame seed farmers on Thursday in Dutse, Jigawa.

The theme of the workshop is: “A Tactical Involvement for Enhancing the Production Capacity of Sesame Seed in Jigawa State.”

Represented by Okany Chika Sylvia, Chief Trade Promotion Officer, NEPC, Ayeni said the export value represents 24.75 per cent increase compared to 19.59 per cent for the first quarter, 2024.

She said non-oil performance 2024 indicated that sesame seed ranked number three out of the top 20 export products, amounting to 337.8258 metric tonnes with 4.63 per cent of the quantity exported.

“Nigeria can obtain a significant share in the enormous forex from sesame seed export in the global market,” she said.

Ayeni stressed the need to enhance the nation’s sesame yields and production to maximise the export potentials along the value chain.

In a presentation, Sylvia said the export of Nigeria’s sesame seed to Japan between 2019 and 2021 was allegedly threatened due to the discovery of excess pesticide residue and salmonella.

“The offshoot this discovery was raised by Japan Oil and Fat Importers and Exporters Association (JOFIEA) on 5th August, 2022.

“Relatively, the Japanese Authorities allegedly confirmed that a high dose of pesticide residue found in Sesame Seed exported to Japan between 2019-2021 was 1.9 times in excess of Maximum Residue Limit (MRL),” she said.

Sylvia highlighted that some of the challenges related to sesame seed export include poor compliance with sanitary and phytosanitary requirements, cross contamination during handling process, and lack of proper documentation by exporters.

The NEPC official highlighted some of the solutions to include addressing contaminant issue from the farm gate to the market, comprehensive approach and leveraging training of farmers on Good Agricultural Practices (GAP).

“The introduction of technology driven traceability system, tackling logistic hurdles, packaging and product differentiation will also curtail the situation.

“Quality testing, deployment of modern technology, awareness campaign as well as establishment of good storage system is vital,” she said.

Sylvia advocated establishment of clusters within medium term frame, stressing that the council would engage relevant stakeholders to ensure zero rejection of agricultural exports, especially sesame seed.

“We believe that through strategic engagement, partnerships Nigeria’s sesame seed export will be boosted and competitively repositioned across major destination markets.”

Mr Abdulkadir Aliyu, NEPC Coordinator in Jigawa, said the forum aimed at increasing Nigeria’s sesame seed output.

He said the overall objectives was to help the country tap into the growing opportunities in the global market, particularly in foreign exchange earnings.

“This is a valuable opportunity to gain insights and contribute meaningfully to the development of this important sector,” he said.

One of the participants, Balaraba Ibrahim also called for the establishment of aggregation centres for sesame seed processing in Jigawa.

She expressed concern over the level of exploitation being faced by sesame farmers, who lack the capacity to process the produce, adding the trend forced them to dispose it at cheaper prices.

Another participant, Magaji Rabi’u advised farmers and residents of the state to explore export opportunities through the NEPC.