BUA Group has clarified recent reports claiming its 200,000 barrels-per-day refinery in Akwa Ibom State is 90% complete, labeling them as false and misleading.
In a statement released by its management, the company emphasized that construction on the BUA Refinery & Petrochemicals project is progressing steadily and remains on track to meet its delivery timelines.
“Contrary to a misleading report stating that our 200,000 barrels/day refinery is at 90% completion, BUA wishes to advise the public to disregard such misleading reports that did not emanate from us,” the statement read.
While acknowledging the public’s interest in the transformative project, BUA reiterated its commitment to transparency.
“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,” the company noted.
The Akwa Ibom refinery is poised to strengthen Nigeria’s refining capacity and bolster the nation’s energy security. In addition to the refinery, BUA highlighted significant advancements in its other energy projects, including the construction of a mini-LNG plant and hybrid power plants across the country. These projects will add to BUA’s existing 1,000MW installed captive power generation capacity.
“Our other energy projects, including the construction of a mini-LNG plant and several new hybrid power plants across the country, are also progressing rapidly,” the management said.
The company urged the public to rely only on verified information from its official channels to avoid being misled by false reports. “The public is advised to verify any news through our official channels and platforms so as not to be misled by mischievous persons,” the company stated.
BUA reaffirmed its commitment to excellence, noting that it has successfully completed over 12 mega industrial projects worth over $3.5 billion in the past decade.
“At BUA, we remain committed to transparency and excellence. As we have consistently done… we will continue to keep you updated with verifiable and accurate information only where necessary and as milestones are achieved,” the statement concluded.
The company expressed gratitude for the public’s enthusiasm for the project and reiterated its dedication to building a stronger industrial and manufacturing base for a self-reliant Nigeria.
