BUA Group, a leading industrial conglomerate, has rejected reports claiming that its 200,000 barrels per day refinery in Akwa Ibom is 90% completed, clarifying that the construction is advancing according to schedule.
In a statement issued on Sunday, the company emphasised that while the refinery is not yet at 90% completion, it remains firmly on track to meet its delivery timelines, thanks to strong collaboration with its partners.
“Whilst the refinery is not at 90% completion, we are however on track to meet our delivery timelines in collaboration with our partners”, the statement read.
The company highlighted that the refinery project represents a significant leap forward in Nigeria’s efforts to boost its refining capacity and ensure greater energy security for the nation. The refinery, once completed, is expected to play a crucial role in enhancing Nigeria’s oil refining capabilities.
Beyond the refinery, BUA Group is also making strides in other energy projects, including the development of a mini-LNG plant and multiple hybrid power plants across Nigeria. These initiatives will add substantial capacity to the company’s already impressive over 1,000MW of installed captive power generation.
“Our other energy projects, including the construction of a mini-LNG plant and several new hybrid power plants across the country to add additional capacity to our over 1,000MW installed captive power generation capacity, are also progressing rapidly”, BUA Group noted.
The conglomerate further cautioned the public to verify news about its projects through official channels, to avoid being misled by inaccurate or malicious claims.
“The public is advised to verify any news through our official channels and platforms so as not to be misled by mischievous persons”, the statement advised.
BUA Group also took the opportunity to highlight its track record of successful industrial projects, stating that in the past decade, it has completed over $3.5 billion worth of major projects across various sectors.
“At BUA, we remain committed to transparency and excellence. 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 keep you updated with verifiable and accurate information only where necessary, and as milestones are achieved”z the company affirmed.
The group expressed gratitude for the public’s interest and enthusiasm for the refinery project, reaffirming its dedication to delivering on its promises while maintaining transparency and accountability.
