BUA Group Refutes Misleading Report, Confirms Progress on Refinery Project
The BUA Group has clarified the status of its 200,000 barrels-per-day refinery project in Akwa Ibom, emphasizing steady progress while dismissing claims that it is 90% complete.
In a statement, the company reassured the public of its commitment to Nigeria’s energy security. "While the refinery is not at 90% completion, we are on track to meet our delivery timelines in collaboration with our partners," the statement read.
The BUA Refinery & Petrochemicals project is described as a significant step toward strengthening the nation’s refining capacity. The group also highlighted other energy initiatives, including a mini-LNG plant and hybrid power projects, which aim to boost its over 1,000MW installed captive power capacity.
BUA urged the public to verify information through its official channels. "At BUA, we remain committed to transparency and excellence. We will share updates as milestones are achieved," it stated, referencing the completion of over $3.5 billion worth of projects in the past decade.
The company expressed gratitude for public support, stating, "We appreciate the enthusiasm for this transformative project as we work to build a stronger industrial base for a self-reliant Nigeria."
Readers are advised to disregard misleading reports and await verified updates from the group.