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BUA Debunks Claims of 90% Completion of Refinery in Akwa Ibom

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BUA Pasta Processing Plant

By Adedapo Adesanya

BUA Group has denied widespread reports that its ongoing construction of a 200,000 barrels per day capacity refinery located in Akwa Ibom State is 90 per cent completed.

In a statement signed on Sunday, the group with subsidiaries in food, cement, and energy sectors said that the claims that the structure was at end stage did not come from it.

“Contrary to a misleading report stating that our 200,000 barrels/day refinery is at 90% completion, BUA wishes to advise the public to disregard such misleading reports that did not emanate from us,” a part of the statement read.

It clarified that the project was progressing well and added that it was going to meet the project timeline of 2025.

“As we make remarkable strides on our Akwa Ibom refinery project, we are proud to share that construction is progressing steadily.

“Whilst the refinery is not at 90% completion, we are however on track to meet our delivery timelines in collaboration with our partners.

“This BUA Refinery & Petrochemicals project represents a major milestone in strengthening Nigeria’s refining capacity and energy security,” the group said.

BUA is also carrying out other energy projects, including the construction of a mini-LNG plant and several new hybrid power plants across the country, which it said are also progressing rapidly.

The group says this will add additional capacity to our over 1,000MW installed captive power generation capacity.

“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 said.

“At BUA, we remain committed to transparency and excellence. As we have consistently done with over 12 of our completed mega industrial projects worth over $ 3.5 billion 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.

“We appreciate the public’s interest and enthusiasm for this transformative project as we work together in building a stronger industrial and manufacturing base for a self-reliant Nigeria,” it added.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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NDDC Chairman Consoles Families of Agbor Tanker Fire Victims

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Chiedu Ebie NDDC Chairman

By Modupe Gbadeyanka

The Chairman of the board of the Niger Development Commission (NDDC), Mr Chiedu Ebie, has condoled with victims of the tanker fire accident that occurred on Sunday in Agbor, Ika South Local Government Area of Delta State.

The incident claimed the lives of about four persons, with some persons badly injured and properties worth millions of Naira destroyed.

The diesel tanker, which reportedly suffered a brake failure, fell at a traffic light junction and exploded into a ball of fire that burnt four persons to death. Three other persons suffered various degrees of injury in the explosion and the resultant inferno.

In a statement, Mr Ebie condoled with the families of the victims, saying that he was saddened by the occurrence, saying, the damage arising from this ugly development has no doubt worsened the economic hardship of the victims. This is not the best way to begin the year.”

The former Secretary to the Delta State Government called on Agbor residents to be more cautious and informed, urging them to desist from any act that would endanger the lives of others or put their businesses in unfavourable or difficult positions.

While he consoled the entire Ika nation for this tragic occurrence, Mr. Ebie expressed hope that a thorough assessment will be conducted by the Local Government Council to determine the exact extent of the damage and losses caused by the inferno.

He prayed for the peaceful repose of the departed and that God grants their loved ones the fortitude to bear the irreparable loss.

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Proposed Tariff Hike: Airtel Reassures Customers Enhanced Services

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Airtel Nigeria SIM update

As conversations intensify around tariff adjustments in Nigeria’s telecommunications sector, Airtel Nigeria CEO Dinesh Balsingh has reaffirmed the telecom giant’s commitment to delivering superior connectivity and fostering digital inclusion.

In response to the economic realities of rising operational and capital costs, Balsingh noted that the proposed tariff adjustments aim to ensure the long-term sustainability of the sector while unlocking significant benefits for Nigerian consumers.

In an op-ed authored by Balsingh in which he contextualized the necessity of the tariff adjustments, he explained that “For over a decade, tariffs have remained static despite the dramatic increase in operating expenses, which have surged by over 300% in the last 18 to 24 months alone.

“To continue providing high-quality services and meeting the growing demand for digital connectivity, it has become essential to realign our pricing structure with economic realities.”

Balsingh further highlighted the substantial investments required to maintain and expand telecommunications infrastructure. “The increasing demand for digital services across sectors such as education, banking, and healthcare requires us to continually upgrade our networks to deliver more capacity and improve service quality.

“These investments come at a cost, one that must be shared proportionally to guarantee long-term viability,” he observed.

The proposed tariff adjustments will not only ensure the sector’s sustainability but also bring significant improvements to service delivery, adding: “By enabling us to expand coverage, strengthen network security, and introduce cutting-edge technologies, the adjustments will directly enhance the quality of connectivity for Nigerians. Our priority is to ensure that no one is left behind in the country’s digital transformation journey.”

Balsingh emphasized that these adjustments will be implemented with affordability in mind, ensuring minimal impact on consumers. The company remains steadfast in its commitment

to supporting Nigeria’s vision of becoming a digital economy leader in Africa, empowering businesses, driving innovation, and fostering inclusive growth.

“Our commitment to quality service remains unwavering,” said Balsingh. “While significant tariff adjustments have become necessary, we understand the importance of gradual implementation to support our customers’ financial positions. This step will enable us to invest in capacity, expand coverage, and enhance service delivery, ensuring Nigeria remains competitive in the global digital landscape.”

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Missing N825bn, $2.5bn: CNPP Backs SERAP’s Call for Accountability in NNPC

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Mele Kyari NNPC ceo

By Aduragbemi Omiyale

The Conference of Nigeria Political Parties (CNPP) has amplified the call made by the Socio-Economic Rights and Accountability Project (SERAP) for the Nigerian National Petroleum Company (NNPC) Limited to account for an alleged missing N825 billion and $2.5 billion oil money.

Over the weekend, SERAP called on the government-owned commercial company to give an account of the funds believed to be missing.

This demand for accountability has been re-echoed by the umbrella body of all registered political parties and political associations in Nigeria.

The group had “consistently called for the probe of the NNPC and its officials, citing widespread corruption, mismanagement, and lack of transparency in the oil industry.”

In a statement signed by its Deputy National Publicity Secretary, Mr James Ezema, the CNPP said, “Sometime in 1999, the CNPP first raised concerns about the opaque nature of NNPC’s operations, calling for a comprehensive audit of the corporation’s finances.

“Our demands were met with resistance from the government, but we persisted, knowing that transparency and accountability are essential for good governance and the survival of our democracy.”

“Over the years, the CNPP has continued to push for reforms in the oil industry, calling for the sack of successive NNPC management teams, including the current Mele Kyari-led team. We have also demanded the prosecution of NNPC officials implicated in corruption scandals, but our calls have fallen on deaf ears.

“Despite the incorporation of NNPC as a commercial company under the President Muhammadu Buhari administration, the CNPP has maintained that this move was merely a smokescreen to perpetuate corruption. We insisted that the same management team remained in place and that the incorporation was an incorporation of corruption.

“The CNPP’s demands for accountability and transparency in NNPC Limited are therefore not new. We have been consistent in our calls for an independent forensic audit of NNPC Limited since 1999. We believe that it is in the best interests of the Nigerian people for NNPC Limited to open its accounts for a thorough audit, and all unremitted revenues traced, recovered and remitted to the Federation accounts.

“For us, the recent demand by the Socio-Economic Rights and Accountability Project (SERAP) for NNPC Limited to account for the alleged missing N825 billion and $2.5 billion is a welcome development. The CNPP wholeheartedly supports SERAP’s demand and calls on NNPC Limited to meet the demands without delay.

“We urge the Federal Government to take immediate action to address the allegations of corruption and mismanagement in NNPC Limited. The time for transparency and accountability is now, and we will continue to push for reforms in the oil industry until Nigerians can reap the benefits of their country’s rich natural resources.

“The CNPP warns that Nigerians will continue to suffer hardships until NNPC Limited begins to operate transparently and remit all revenues to the Federation accounts, thereby ending the yearly borrowings to finance Nigerian budgets, which have worsened since 2015.

“We call on all Nigerians to join other civil society bodies and concerned groups in demanding accountability and transparency in NNPC Limited. Together, we can push for reforms and ensure that our country’s natural resources are used for the benefit of all, not just a privileged few,” the statement said.

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