BUA GIVES UPDATE ON COMPLETION OF $3.8BN REFINERY.(PHOTO)

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 BUA gives update on completion of $3.8bn refinery. BUA Refinery and Petrochemical has announced that it is on track to complete its $3.8 billion plant in Akwa Ibom. In a statement on Saturday, the firm dismissed reports that the refinery is 90 percent complete. The clarification comes amid reports that the 200,000-barrel-per-day refinery is 90 percent completed. However, the company described the report as misleading. “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. “As we make remarkable strides on our Akwa lbom refinery project, we are proud to Share that construction is progressing steadily. Whilst the refinery is not at 90 percent completion, we are, however, on track to meet our delivery timelines in collaboration with our partners.”
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BENUE ASSEMBLY APPROVES N550.112bn 2025 BUDGET. (PHOTO).

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 BENUE ASSEMBLY APPROVES N550.112bn 2025 BUDGET


31st December


The Benue State House of Assembly Monday passed the 2025 Appropriation bill of N550.112 billion.


The bill, presented by Governor Hyacinth Alia, outlined a total revenue projection of N550.112 billion, with a recurrent expenditure of N175.412 billion and a capital expenditure of N374.700 billion.


The approved budget represents a 47.5% increase over the 2024 revised and approved budget, with a focus on human capital development, food security, and digital economy. 


The budget allocation includes, Recurrent Expenditure of N175.412 billion, divided into Personnel Cost of N80.013 billion and N95.398 billion for overhead costs.


The approved budget also have Capital Expenditure of N374.700 billion, prioritising infrastructure development, agriculture, education, and health sectors.


During the debate, lawmakers raised concerns over the allocation of N79 billion to the newly created Bureau of Special Project and Infrastructure, with some calling for clarification on the bureau’s mandate.


Others urged the house to pass the budget speedily to enable the state government to implement its development plans.


The Speaker, Mr. Hyacinth Dajo, advised the Director-General of Economic Planning to submit the budget early to allow lawmakers sufficient time to review it.


He said with the budget’s approval, the Benue state government will consolidate its development gains and address the state’s socio-economic challenges. 

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