BUA Clarifies Reports On Akwa Ibom Refinery

The BUA Group recently addressed some misinformation regarding its 200,000 barrels per day crude oil refinery in Akwa Ibom, South-South Nigeria.

Contrary to reports that claimed the refinery was 90 percent completed, the company clarified that while progress has been steady, the project is not yet at that stage. The group assured the public that the refinery is on track to be delivered on schedule.

In a statement, BUA highlighted that over the last decade, it has invested approximately $3.5 billion into 12 major projects across Nigeria. These initiatives, which include the refinery, aim to enhance Nigeria’s refining capacity and reduce the country’s dependence on imported fuels and petrochemicals. The refinery is expected to produce Euro-V fuels, including diesel, petrol, jet fuel, and polypropylene, using advanced technologies that aim to minimize environmental impact and ensure optimal production efficiency.

The company further emphasized the importance of accurate reporting and advised the public to disregard the misleading claim about the refinery’s progress. “Contrary to a misleading report stating that our 200,000 barrels per day refinery is at 90 percent completion, BUA wishes to advise the public to disregard such misleading reports that did not emanate from us,” the statement read. Despite the confusion, BUA reassured that they were collaborating with their partners to ensure that construction progresses steadily and that the project would be completed within the designated timelines.

Alongside the refinery, BUA is also making progress on other energy projects, including a mini-Liquefied Natural Gas (LNG) plant and several new hybrid power plants across Nigeria. These projects are designed to boost the group’s existing power generation capacity, which exceeds 1,000 megawatts.

The company encouraged the public to obtain information from official channels to avoid being misled by false reports. “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,” the company concluded. With the refinery’s completion, Nigeria is expected to become a net exporter of petroleum products, bolstered by the growing refining capacities of projects such as the Dangote refinery and other upcoming refineries in Port Harcourt, Warri, and Kaduna.

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