BUA refinery on track, dispels misleading completion claims

BUA Refinery and Petrochemicals has debunked claims that its refinery project in Akwa Ibom is 90 per cent complete, emphasizing that the information did not originate from the company. Instead, it reassured the public that construction progress remains steady, with the project on course to meet its delivery timelines.

In a statement on Sunday, the company clarified that the reported figure was misleading, reiterating its commitment to transparency and timely updates. “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.

“We are, however, on track to meet our delivery timelines in collaboration with our partners,” the company stated.

While acknowledging that the refinery has not reached the 90% milestone, BUA affirmed that the project remains a critical part of its efforts to bolster Nigeria’s refining capacity and enhance energy security.

The management also highlighted other ongoing energy initiatives, such as a mini-LNG plant and hybrid power plants across the country, which are set to complement its over 1,000 MW installed captive power generation capacity.

BUA called for caution in consuming unverified news, urging stakeholders to rely on official channels for updates. “The public is advised to verify any news through our official platforms to avoid being misled by mischievous individuals,” the company added.

The refinery, expected to be completed by the end of 2025, is part of BUA’s broader industrial strategy. Over the past decade, the company has successfully delivered over 12 industrial projects valued at more than $3.5 billion, reinforcing its reputation as a major player in Nigeria’s industrialization.

“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.”

Expressing gratitude for public interest in the refinery project, BUA reaffirmed its commitment to delivering on its promise of a stronger industrial and manufacturing base for Nigeria’s self-reliance.

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