BUA debunks report claiming 90% completion of Akwa Ibom Refinery
Onome Amuge
BUA Refinery and Petrochemicals’ management has refuted reports claiming that its Akwa Ibom-based refinery is nearing 90 percent completion.
While dispelling these rumours, the management acknowledged the progress being made in the project and confirmed that construction is progressing at a steady pace.
According to the management, the refinery, when completed, will have a capacity of 200,000 barrels per day, adding to Nigeria’s petroleum refining capacity and potentially boosting its local production of refined petroleum products.
“Whilst the refinery is not at 90 percent 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,” BUA stated in a release made available on the Group’s official X (formerly Twitter) account early Sunday.
In addition to the Akwa Ibom refinery, BUA Refinery and Petrochemicals’ management disclosed that several other energy projects under the company’s umbrella are making progress. These projects include the construction of a mini Liquefied Natural Gas (LNG) plant and several new hybrid power plants across the country, which will supplement the company’s existing captive power generation capacity of over 1,000 megawatts.
BUA reiterated its dedication to transparency and excellence, pointing to a track record of delivering 12 mega industrial projects worth over $3.5 billion in the last 10 years as evidence.
According to the management, this consistency in project execution demonstrates its commitment to upholding high standards and maintaining a transparent process, as it strives to complete these new energy projects in a timely and efficient manner.
In light of the misinformation that has been circulating, the group pledged to provide the public with verified and accurate updates on the progress of its various projects.