BUA Refinery and Petrochemicals has addressed a misleading report, clarifying that its refinery project in Akwa Ibom is not 90% complete as claimed.
The company urged the public to disregard the inaccurate information, confirming that construction is advancing steadily and the project remains on track to meet its scheduled completion.
BUA Refinery and Petrochemicals made this disclosure in a statement on Sunday, stressing that the project is far from reaching that stage.
“Contrary to a misleading report stating that our 200,000 barrels/day refinery is at 90 per cent completion, we wish to advise the public to disregard such misleading reports that did not emanate from us,” the statement read.
Although the refinery is not yet 90% complete, BUA reassured the public that the project is progressing as planned and remains on track.
“We are, however, on track to meet our delivery timelines in collaboration with our partners,” the statement continued.
BUA emphasized that the refinery project is a crucial part of its commitment to enhancing Nigeria’s refining capacity and improving energy security.
The company also highlighted its other ongoing energy projects, such as the construction of a mini-LNG plant and several hybrid power plants across Nigeria.
These initiatives are set to increase BUA’s total installed captive power generation capacity, which currently exceeds 1,000 MW.
The statement further reaffirmed BUA’s commitment to transparency, noting its track record of successfully completing over 12 major industrial projects valued at more than $3.5 billion over the past decade.
“As we have consistently done with over 12 of our completed mega industrial projects worth over $3.5bn 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,” it concluded.
The company also emphasized the importance of verifying news through official channels.
BUA expressed appreciation for the public’s enthusiasm regarding the Akwa Ibom refinery project and reaffirmed its dedication to building a stronger industrial and manufacturing base for a self-reliant Nigeria.
