Akwa Ibom, Nigeria—BUA Group, a leading industrial conglomerate, has denied reports that its 200,000 barrels per day refinery project in Akwa Ibom is 90 percent completed.
In a statement released on Sunday, the company clarified that while construction is progressing steadily, the claim of near completion is inaccurate.
“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 described the BUA Refinery & Petrochemicals project as a significant milestone aimed at bolstering Nigeria’s refining capacity and enhancing the country’s energy security.
BUA Group also provided updates on its other energy projects, including the construction of a mini-LNG plant and several hybrid power plants nationwide. These projects are expected to complement the company’s over 1,000MW of installed captive power generation capacity.
The management urged the public to rely on official channels for updates, cautioning against misinformation.
“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 added.
Over the past decade, BUA Group has completed over $3.5 billion worth of industrial projects, and it reaffirmed its commitment to transparency and excellence in delivering major infrastructure initiatives.
“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,” the company assured.
BUA Group also expressed gratitude for the public’s interest and enthusiasm regarding the refinery project, reaffirming its dedication to supporting Nigeria’s industrial growth and energy independence.