- BUA Group clarified the progress of its Akwa Ibom refinery project, denying that it is 90 per cent complete
- The Akwa Ibom refinery to produce Euro-V fuels and reduce Nigeria's reliance on imported fuels
- The company urged the public to rely on official updates and avoid misleading information
BUA Group has issued a clarification regarding the progress of its 200,000 barrels per day crude oil refinery in Akwa Ibom, South-South Nigeria, denying claims that the facility was 90 per cent completed.
The group assured that the refinery was progressing according to schedule and would be delivered on time in a statement released by the management on Sunday, January 5.
BUA Group dismisses 90% completion reports
“Contrary to a misleading report stating that our 200,000 barrels per day refinery is at 90 per cent completion, BUA wishes to advise the public to disregard such misleading reports that did not emanate from us.
“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 per cent completion, we are, however, on track to meet our delivery timelines in collaboration with our partners.
“This BUA Refinery and Petrochemicals project represents a major milestone in strengthening Nigeria’s refining capacity and energy security,” the statement read.
The group emphasised that while construction was ongoing, the facility was far from the claimed 90 per cent completion mark.
BUA Akwa Ibom refinery to boost Nigeria’s fuel production
It also stated that over the past decade, BUA Group had invested approximately $3.5 billion into 12 major projects across Nigeria, contributing to the nation’s infrastructure development.
Once completed, the Akwa Ibom refinery was expected to produce Euro-V fuels, including diesel, petrol, jet fuel, and polypropylene.
According to the group, it was designed with advanced technology aimed at minimising environmental impact, enhancing production efficiency, and reducing Nigeria's dependence on imported fuels and petrochemicals.
Additionally, BUA highlighted the ongoing progress of its energy projects, including a mini-Liquefied Natural Gas (LNG) plant and several hybrid power plants, which are set to augment its existing 1,000 MW installed captive power generation capacity.
BUA urges public to rely on official channels for updates
The company urged the public to rely on its official communication channels to verify any updates, warning against misleading information.
“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.
“We appreciate the public’s interest and enthusiasm for this transformative project as we work together in building a stronger industrial and manufacturing base for a self-reliant Nigeria,” the company stated.
Port Harcourt refinery fully operational, Presidency clarifies
Meanwhile, TheRadar earlier reported that the Special Adviser on Information and Strategy to President Bola Tinubu, Bayo Onanuga, confirmed ongoing operations at the Port Harcourt Refining Company’s 150,000 barrels per day plant in Rivers State.
Onanuga dismissed claims of crude oil shortages at the plant, assuring that the 60,000 bpd refinery was running at 70 per cent of its capacity, with plans to ramp up production.