BUA Refinery Debunks Misleading Report on Completion Status, Reaffirms Commitment to Timely Delivery
Akwa Ibom, Nigeria – BUA Group has dismissed recent claims circulating in the media about the completion status of its 200,000 barrels-per-day refinery project in Akwa Ibom State. The company clarified that the refinery is not 90% complete, contrary to the false reports, but assured the public that construction is progressing steadily in line with its delivery timelines.
In a statement obtained from BUA Group’s official X (formerly Twitter) handle by The Bureau Newspaper, the company expressed gratitude for the public’s interest in its ongoing transformative project and urged Nigerians to disregard inaccurate information not originating from the company.
The management emphasized, “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 Akwa Ibom refinery is among several initiatives by BUA Group to bolster the nation’s industrial and energy infrastructure. Other ongoing projects include the development of a mini-LNG plant and hybrid power plants to expand the company’s current 1,000MW installed captive power generation capacity.
BUA Group reaffirmed its commitment to transparency and pledged to provide accurate updates as project milestones are achieved. “As we have consistently done with over 12 of our completed mega industrial projects worth over $3.5 billion in the past 10 years, we will continue to share verifiable and accurate information at the appropriate time,” the statement added.
The company further advised the public to rely on official channels for credible information to avoid being misled by false reports.
With its ambitious investments in energy and manufacturing, BUA Group remains a key driver of Nigeria’s industrialization efforts, aiming to enhance self-reliance and economic growth.
See statement below:
BUA REFINERY AND PETROCHEMICALS, AKWA IBOM: AN UPDATE
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.
As we make remarkable… pic.twitter.com/83mTzgPc9j
— BUA Group (@BUAgroup) January 5, 2025
