BUA Group has refuted claims circulating in the media that its 200,000 barrels per day refinery in Akwa Ibom is 90% complete......Read The Full Article>>.....Read The Full Article>>
In a statement issued by the company’s management, BUA advised the public to disregard such reports, which did not originate from official sources.
“BUA wishes to advise the public to disregard such misleading reports that did not emanate from us” ir stated in a statement issued on Sunday, January 5, 2025.
The company clarified that while construction of the BUA Refinery and Petrochemicals project is progressing steadily, it has not reached the 90% completion milestone.
However, the project remains on track to meet its delivery timelines in collaboration with its partners. BUA emphasized the strategic importance of the refinery, describing it as a critical step in boosting Nigeria’s refining capacity and enhancing energy security.
“As we make remarkable strides on our Akwa Ibom refinery project, we are proud to share that construction is progressing steadily. Whilst the refinery is not at 90% completion, we are however on track to meet our delivery timelines in collaboration with our partners. This BUA Refinery & Petrochemicals project represents a major milestone in strengthening Nigeria’s refining capacity and energy security”, the market leader across different spheres provided insight.
In addition to the refinery project, BUA highlighted progress on other energy-related initiatives, including the construction of a mini-LNG plant and several hybrid power plants. These projects aim to bolster the company’s already substantial 1,000MW installed captive power generation capacity.
The company urged the public to rely on its official communication channels for updates, discouraging reliance on misinformation spread by unauthorized sources.
BUA reaffirmed its commitment to transparency, excellence, and timely delivery of its industrial projects, which have added over $3.5 billion in value to the Nigerian economy over the last decade.
BUA concluded by appreciating public interest in its transformative projects and pledged to keep stakeholders informed as milestones are achieved.
The statement reflects the company’s dedication to fostering industrial growth and energy self-reliance in Nigeria.
