In a significant move, BUA Group, a major conglomerate in Africa with interests in foods, mining, manufacturing, and industry, has entered into a partnership with CIMC ENRIC, a global leader in the energy equipment industry, along with Axxela. The collaboration aims to establish a 700-ton-per-day mini LNG project in Nigeria, as formalized in a signing ceremony held on Monday in Lagos.
This strategic agreement represents a noteworthy milestone for BUA Group as it expands its footprint into the energy sector, underscoring the conglomerate’s commitment to sustainable energy solutions throughout its business operations. Abdul Samad Rabiu, Chairman of BUA Group, expressed the firm’s dedication to employing cleaner, energy-efficient sources in alignment with short to long-term Environmental, Social, and Governance (ESG) commitments and sustainability initiatives. Rabiu highlighted that while BUA already relies on gas as a primary energy source across its 1,000MW captive power plants in Nigeria, the completion of the mini LNG project will further ensure the availability of cleaner energy year-round, supporting the growing industrial power needs of BUA Group. He expressed enthusiasm about the project’s prospects and anticipated a fruitful collaboration with CIMC ENRIC and Axxela.
The agreement, signed by management representatives of BUA Group, CIMC ENRIC, and Axxela Group, emphasizes the project’s potential impact on the regional energy landscape, aligning with the Nigerian Government’s push to diversify its energy commitments.
BUA Group remains steadfast in its commitment to investing in cutting-edge technology and infrastructure, benefiting not only its operations but also the communities it serves.