BUA Refinery and Petrochemicals has clarified that its refinery project in Akwa Ibom is not at 90 per cent completion, as stated in a misleading report.

The company urged the public to disregard the claims, confirming that construction is progressing steadily and that the project is on track to meet its delivery timelines.

In a statement sent to The PUNCH on Sunday, the company dismissed the 90 per cent completion claim, emphasizing that the refinery is far from that stage.

“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,” the statement read.

While the refinery is not yet 90 per cent complete, BUA assured the public that the project remains on track.

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

BUA noted that the refinery project is a significant part of the company’s efforts to enhance Nigeria’s refining capacity and energy security.

Additionally, the company highlighted other ongoing energy projects, including the construction of a mini-LNG plant and several hybrid power plants across the country.

These projects are expected to add capacity to BUA’s over 1,000 MW installed captive power generation capacity.

The company further stressed the importance of verifying news through official channels: “The public is advised to verify any news through our official channels and platforms so as not to be misled by mischievous persons.”

The statement also reiterated BUA’s commitment to transparency, citing its history of completing over 12 major industrial projects worth more than $3.5 billion in the past 10 years.

“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,” it concluded.

BUA expressed gratitude for the public’s enthusiasm about the Akwa Ibom refinery project and reaffirmed its commitment to building a stronger industrial and manufacturing base for a self-reliant Nigeria.

The company’s management had stated that the refinery is expected to be completed by the end of 2025.