Nigerian Tycoon Expands Energy Portfolio With Mini LNG Project

The BUA Group, which is owned by Nigerian billionaire Abdul Samad Rabiu, has recently garnered attention for its partnership agreement with CIMC ENRIC, a global energy equipment manufacturer. This agreement paves the way for the construction of a 700-ton-per-day mini LNG project in Nigeria.

This significant development follows the successful establishment of a refinery by the BUA Group to rival Dangote. The new mini LNG project is anticipated to substantially increase the group’s power-generating capacity, supporting its demand for cleaner energy.

As per a statement from the BUA Group, the signing ceremony took place at the company’s headquarters in Lagos, signifying a major stride in the conglomerate’s expansion into the energy sector. This move also reaffirms the group’s commitment to sustainable energy in the region.

Chairman Abdul Samad Rabiu expressed the group’s dedication to utilising cleaner energy sources, aligning with its short-term and long-term ESG commitments and sustainability plans. He underscored the role of the mini LNG project in bolstering the availability of cleaner energy, particularly across the group’s captive power plants.

The agreement has also underscored the expected impact of the project on the regional energy landscape, in accordance with Nigeria’s efforts to diversify its energy commitments. Rabiu emphasised the company’s dedication to investing in advanced technology, infrastructure, and benefits for its operations and host communities, further demonstrating the BUA Group’s commitment to sustainable development.

The BUA Group, a prominent player in various industries including foods, mining, manufacturing, and infrastructure, continues to fortify its position in the market. The conglomerate has diversified interests in cement, sugar, real estate, construction, oil and gas, energy, rice, port operations, and logistics, illustrating its far-reaching influence across different sectors.

In addition to the mini LNG project, the BUA Group has also attracted attention for its plans to inaugurate a new multi-billion naira cement plant in Sokoto state. The tycoon, Abdul Samad Rabiu, revealed that the company is working tirelessly to prepare the plant for inauguration in January 2024.

These recent developments consolidate the BUA Group’s position as a key player in the Nigerian business landscape, placing the conglomerate at the forefront of energy and infrastructure initiatives. With its commitment to sustainability and technological advancement, the BUA Group continues to drive innovation and progress in various sectors of the Nigerian economy.