BUA Refinery Clarifies Progress on 200,000 bpd Akwa Ibom Project

The management of BUA Refinery and Petrochemicals has refuted reports claiming its 200,000 barrels per day (bpd) refinery in Akwa Ibom is 90 percent complete.

In a statement shared via the Group’s official X account (formerly Twitter) on Sunday, the company acknowledged significant progress in the project while clarifying that the facility has not yet reached the reported completion level.

“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,” the management said.

Additional Energy Initiatives

The company also disclosed that it is advancing other energy initiatives, including the construction of a mini-LNG plant and several hybrid power plants across Nigeria. These projects aim to expand BUA’s existing captive power generation capacity, which already exceeds 1,000 megawatts.

Commitment to Transparency and Excellence

BUA’s management highlighted its track record of delivering over 12 mega industrial projects worth over $3.5 billion in the last decade, reaffirming its dedication to transparency and operational excellence.

The company assured the public that updates would be provided only with verifiable and accurate information as key milestones are achieved.