President Bola Ahmed Tinubu has inaugurated the $400 million Otakikpo Onshore Crude Oil Export Terminal in Andoni, Rivers State — Nigeria’s first new crude export facility in over five decades, signaling renewed confidence in the nation’s oil industry.

Lekoil Nigeria Limited has commissioned the Otakikpo Onshore Crude Oil Export Terminal in Rivers State a milestone that signals a new phase for the indigenous oil producer and aligns with Nigeria’s broader push to expand crude production capacity.

President Bola Tinubu has approved a ₦4 trillion bond to clear verified debts owed to power generation companies and gas suppliers, as part of the Federal Government’s efforts to stabilise Nigeria’s electricity market and boost investor confidence.

Residents of Ogbele Community in Ahoada East LGA, Rivers State, have protested against Aradel Holdings Plc, accusing the oil company of neglect, environmental degradation, and failure to implement the Petroleum Industry Act (PIA).

President Bola Tinubu’s decision to withhold assent to two National Assembly bills citing financial irregularities and policy duplication , has sparked debate over whether the move reflects true oversight or political strategy.