The BUA Group on Wednesday, April 14 in Lagos signed a progress acknowledgement statement with Axens of France, pursuant to the building of the proposed 200,000 barrels per day BUA Refinery to be sited in Akwa Ibom State..
The Chairman BUA Group, Abdul Samad Rabiu, while speaking at the brief but colourful signing ceremony, said the BUA Refinery will be sited in Akwa Ibom State, adding that the agreement for design of the refinery was signed with Axens last year, while the project will take between three to four years but declined to disclose the project cost.
Akwa Ibom was chosen for the project, according to him, because of its nearness to the source of the raw material.
According to Rabiu, “it means we will not have to spend too much money on transportation of the stock and also because we have our jetty there. So we can bring in products and also export our products easily. And the quality of crude there is also one of the best”.
President of Axens, Jean Sentenac, who attended the event virtually, said he is pleased that the project is advancing on schedule.
He reiterated the commitment of Axens to delivering the BUA Refinery project on time and with the highest standards.
In a related development, French President, Emmanuel Macron, commended the Chairman of BUA Group, Abdul Samad Rabiu, for his commitment to developing lasting relationships between French and Nigerian businesses.
The commendation was conveyed by the French Minister for Foreign Trade and Economic Attractiveness, Franck Riester, during a visit to BUA Group Headquarters in Lagos, where he handed over a personal invitation from President Macron to Rabiu to attend the “Choose France Summit” in June this year in Paris, representing business leaders from Nigeria and Africa.
The French President, Macron used the opportunity to congratulate Mr. Rabiu on his appointment as Chairman of the France Nigeria Investment Club, adding that “the French Government is ever ready to support people-oriented and developmental projects in Nigeria”.
Continuing, Macron said “I am very pleased to see how committed Abdul Samad Rabiu is for the refinery project”.