BUA Group has addressed a misleading report regarding the progress of its Akwa Ibom refinery project, clarifying that while the refinery is not 90% complete, construction remains on schedule. The company emphasized that all updates should be obtained through its official channels to avoid misinformation.

The Akwa Ibom refinery, with a planned capacity of 200,000 barrels per day, is a collaborative effort with partners and is expected to meet its delivery timelines. The project is seen as a crucial step in bolstering Nigeria’s refining capacity and energy security.

In addition to the refinery, BUA highlighted progress on other energy projects, such as a mini-LNG plant and hybrid power plants nationwide, which aim to increase the company’s captive power generation capacity to over 1,000MW.

BUA reaffirmed its commitment to transparency, excellence, and industrial growth, citing the successful completion of over 12 major industrial projects worth more than $3.5 billion in the last decade. The company assured the public that updates on milestones will be accurate and verifiable.

The statement concluded with an appreciation of public interest and enthusiasm for the refinery project, which BUA believes will strengthen Nigeria’s industrial and manufacturing self-reliance