Contrary to recent reports, the management team overseeing BUA Refinery and Petrochemicals operations has publicly denied that their large-scale refinery, capable of processing 200,000 barrels of oil per day, is currently 90 percent finished.

The management, however, stated that remarkable strides are being made in the Akwa Ibom refinery project, adding that construction is progressing steadily.

This was made known in a release made available on the Group’s official X (formerly Twitter) account early Sunday.

“Whilst the refinery is not at 90 per cent 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.

It revealed that other energy projects, including the construction of a mini-LNG plant and several new hybrid power plants across the country to add additional capacity to its over 1,000 megawatts installed captive power generation capacity, are also progressing rapidly.

Reiterating its commitment to transparency and excellence, the management cited its consistency with over 12 of its completed mega industrial projects worth over $3.5 billion in the past 10 years.

The management promised to update the public with verifiable and accurate information only where necessary, and as milestones are achieved.