French President, Emmanuel Macron has lauded the Chairman of BUA Group, Abdul Samad Rabiu, for making moves to develop relationships between French and Nigerian businesses.
Represented by Franck Riester, the French Minister for Foreign Trade and Attractiveness, Marcon invited Abdul Samad to the “Choose France Summit” adding that his Government is ever ready to support developmental projects in Nigeria.
“I am very pleased to see how committed Abdul Samad Rabiu is for the refinery and in the space of philanthropy,” Macron said. Speaking at the ceremony yesterday, Rabiu stated that the refinery, when fully operational, would reduce the huge cost of transporting crude oil offshore, refining it and bringing it back into the country.
Acccording to Rabiu, the decision to site the refinery in Akwa Ibom – Southern Nigeria was due to the huge availability of raw materials and its proximity to export petroleum products
He added that the 200,000 bpd refinery and petrochemicals plant will be producing Euro-V fuels and Polypropylene for the domestic and international markets.
Explaining why Axens was selected, after a comprehensive process, he said that it was choosing due to its advanced technology licenses, basic engineering, catalysts and adsorbents, proprietary equipment, training and technical services.
Abdul Rabiu, said: “The refinery and petrochemicals project is in line with BUA’s vision to develop local capacity in key industries where we can add the most value and raw materials can be sourced locally. Once completed, this RFCC-based complex will produce high-quality gasoline, diesel, and jet fuel meeting Euro-V specifications for the Nigerian and larger regional markets.
“Also, it will produce propylene, an essential component for the petrochemicals industry used in polypropylene-based plastics and packaging. This project will help in reducing Nigeria’s dependence on imported fuels and petrochemicals.”