President Bola Tinubu inaugurated the terminal of oil export from Green Energy International Limited (GEIL), of a cost of 400 million dollars, in Otakikpo, Rivers State. He assured yesterday to the population that the government was already committed to them for solve the problems of the Ogonis.

President Bola Tinubu inaugurated the first terminal indigenous oil tanker, the $400 million Otakikpo Project, located in the ocean area of the city of Ikuru, in the easternmost part of Rivers State.

It was then that the president announced that the era of concerns about offshore financing are almost over thanks to the $5 billion fund from the African Energy Bank (AEB), which, he said, is about to start operations.

The enthusiasm is already palpable, as the terminal should opening a new export route. Lekoil, the company behind the agreement, said that the Otakikpo terminal would make her one of main local oil companies in Nigeria.

Lekoil said that the inauguration of the export channel strategic, by which Lekoil removes crude oil from the Otakikpo field, is part of the ongoing reforms aimed at increasing the capacity of production in Nigeria for the economic development of the country.

President Tinubu, who was represented at the inauguration by Heineken Lokpobiri, Minister of State for Petroleum (Petroleum), said that the era of fighting the lack of funding was over.

According to him, the biggest challenge in the upstream operation is access to finance, and the AEB promoters have fulfilled all their obligations for operations.