Economy
Mining Indaba 2026: Abdul Samad Rabiu Urges Shift from Extraction to Value Addition in Africa
Africa must move away from exporting raw materials and instead process them locally to create jobs, retain wealth and drive industrial growth, the Chairman of BUA Group, Abdul Samad Rabiu, has said.
Speaking at an Africa Finance Corporation (AFC) forum during Mining Indaba 2026 in Cape Town, Mr Rabiu called for what he described as a “decisive shift” in the continent’s development strategy.
He was the Special Guest of Honour at the event, which brought together African leaders, policymakers and investors to discuss mining and industrialisation.
Why it matters
Africa is one of the world’s richest regions in natural resources.
Yet most of its minerals and agricultural products are exported in raw or minimally processed form, meaning much of the value and profits are created abroad.
Mr Rabiu argued that this model leaves African economies vulnerable to price swings and limits job creation.
“Africa does not lack resources,” he said. “What it lacks is processing capacity, industrial scale, and disciplined execution.”
He added: “Industrialisation does not happen by accident. Countries that industrialised did so by design, not by chance. Africa must do the same.”
From cement importer to exporter
Drawing from BUA Group’s experience in Nigeria, Mr Rabiu described how the company shifted from importing cement to producing it locally more than 16 years ago.
“At the time, Nigeria was importing cement despite being richly endowed with limestone,” he said.
“We were spending more time chasing foreign exchange than selling cement. The real question was not whether the resources existed, but whether there was enough conviction to stop importing and start producing locally.”
Today, he said, BUA mines and processes about 40,000 tonnes of limestone daily and produces roughly one million tonnes of cement every month.
The company’s expansion has helped Nigeria move from cement importer to net exporter, saving billions of dollars in foreign exchange annually.
The role of development finance
Mr Rabiu credited long-term financing from development finance institutions (DFIs), particularly the Africa Finance Corporation, for supporting BUA’s industrial growth.
He said AFC had provided more than $400m in financing to BUA’s cement and industrial operations.
A significant portion of the facilities has already been repaid, he added, showing that large-scale African industrial projects can be both commercially viable and development-driven.
He also praised AFC’s leadership and recent S&P Global rating with a positive outlook, describing it as evidence of strong institutional credibility.
A wider continental challenge
Mr Rabiu said the challenge extends beyond cement or mining.
He cited gold, cobalt, copper, iron ore, diamonds and cocoa as examples of commodities where Africa supplies raw materials but captures only a fraction of downstream value.
The same pattern, he said, exists in agriculture, where Africa holds much of the world’s arable land yet imports billions of dollars’ worth of food each year.
What’s next?
Mr Rabiu called for coordinated action between governments, DFIs and the private sector.
He urged governments to adopt policies that encourage local processing and invest in power, transport and industrial infrastructure.
He also called on DFIs to expand long-term financing targeted at beneficiation and industrial value chains.
He concluded that Africa’s opportunity lies in aligning private enterprise, patient capital and supportive policy to move from “extraction to transformation”.
The newly deployed Comptroller of the Seme Area Command, Abdullahi Kaila, has launched his tenure with a series of familiarisation visits to key sister security agencies along the Lagos-Abidjan trade corridor.
Speaking at the 243 Recce Battalion in Ibereko, Badagry, on Wednesday, 1 April 2026, Kaila highlighted the importance of collaboration to strengthen border operations and safeguard trade.
“Seme border is a critical gateway for trade and services between Nigeria and other countries. Considering the volume of trade, movement of people, and cross-border activities, Seme is a sensitive strategic economic corridor. Continuous collaboration, intelligence sharing, and mutual support are essential,” he said.
Why It Matters
The Lagos-Abidjan corridor serves as a major economic route connecting Nigeria with West African partners. Efficient border management here directly impacts trade efficiency, local economies, and security for border communities. Kaila’s visit underscores the Customs Service’s commitment to coordinated border oversight.
“Synergy between sister security agencies ensures economic stability and the well-being of communities residing near the border,” Kaila added, urging agencies to work collectively toward shared objectives.
Sister Agencies Respond
The Commanding Officer of 243 Recce Battalion, Lt. Colonel Ambrose Ikoro, praised the longstanding cooperation between the Nigerian Army and the Customs Service.
“We pledge to maintain and improve upon the cooperation we have built. Supporting the Customs Service is vital, and as a border-operating unit, our mandate is to support all relevant security agencies, including Customs,” he said.
Kaila’s visit extended to the Nigerian Navy Forward Operating Base Badagry, the 15 Field Engineer Regiment in Topo, Badagry, and the NAFDAC Office at Seme, signaling a broad commitment to inter-agency cooperation and the reduction of trade barriers.
Industry and Community Impact
Security experts note that inter-agency collaboration at critical borders helps reduce smuggling, illegal trade, and corruption, while promoting legitimate commerce. For communities along the Seme border, improved coordination translates to safer cross-border travel and more stable economic conditions.
What’s Next
The Seme Area Command plans ongoing engagement with security partners, local communities, and trade stakeholders to monitor and streamline cross-border activities. Kaila’s tenure signals a proactive approach to balancing security imperatives with economic growth.
Economy
AfCFTA: Nigeria Customs launches training to boost intra-African trade and business competitiveness
The Nigeria Customs Service (NCS) has launched a three-day training programme aimed at strengthening Nigeria’s implementation of the African Continental Free Trade Area (AfCFTA).
The capacity-building workshop, which began on 31 March 2026 and runs until 2 April, focuses on Rules of Origin — a key requirement for determining which goods qualify for tariff-free trade across Africa.
Officials say the initiative is designed to improve Nigeria’s participation in intra-African trade and ensure businesses can fully benefit from the agreement.
Why it matters
AfCFTA is one of the world’s largest free trade areas, connecting 54 African countries and creating a market of over 1.3 billion people.
However, experts say many businesses struggle to benefit due to limited awareness and technical knowledge, especially around Rules of Origin.
Without proper understanding, exporters risk missing out on trade preferences or facing delays at borders.
Customs: ‘Critical to trade and competitiveness’
Declaring the programme open, the Comptroller-General of Customs, Adewale Adeniyi, said the training addresses a crucial gap in trade implementation.
Represented by Assistant Comptroller General in charge of Strategic Research and Policy, Nafiu Isiaku, he stressed the importance of the initiative.
“The Rules of Origin constitute a very critical pillar of economic integration. Their correct interpretation and implementation are fundamental to trade preference, transparency, and competitiveness,” he said.
He added that the workshop is designed to combine theory with practical application, covering planning, execution and evaluation of trade processes.
AfCFTA coordinator: ‘From policy to real impact’
Nigeria’s National Coordinator for AfCFTA, Olusegun Olutayo, described the training as a shift from policy discussions to real economic outcomes.
“This agreement must not remain at the level of policy; it must translate into jobs, income, and real opportunities for Nigerians,” he said.
He urged stakeholders to increase awareness and equip businesses with practical knowledge to compete effectively in African markets.
Olutayo also acknowledged the role of the Presidency and commended President Bola Ahmed Tinubu for supporting economic reforms linked to trade.
Industry and development partners
The programme has drawn support from international partners, including the World Customs Organisation and the European Union, who are providing technical expertise.
Trade analysts say such partnerships are vital in aligning Nigeria’s systems with global standards.
They also note that improved customs processes could reduce trade bottlenecks and boost investor confidence.
What’s next
Participants have been urged to apply the knowledge gained to ensure Nigerian businesses are not excluded from AfCFTA opportunities due to lack of awareness.
If successfully implemented, the training could strengthen Nigeria’s trade competitiveness and increase exports within Africa.
Impact on businesses and economy
For small and medium-sized enterprises (SMEs), understanding Rules of Origin could mean easier access to new markets and reduced costs.
Economists say increased intra-African trade could help diversify Nigeria’s economy away from oil and create jobs across manufacturing, agriculture and services.
Economy
Nigeria Customs seizes 1,202 kegs of Smuggled oil, Hands Over ₦104.7m Mica Stones in Ogun Crackdown
The Nigeria Customs Service (NCS) says it has intercepted 1,202 kegs of smuggled vegetable oil and seized 285 sacks of mica stones valued at ₦104.7m in Ogun State.
The seizures were carried out by the Ogun I Area Command during separate intelligence-led operations in March 2026.
Officials say the crackdown is part of efforts to protect local industries, prevent illegal exports, and boost government revenue.
Crackdown on smuggled vegetable oil
The Customs Area Command said the vegetable oil seizures followed operations conducted on 19 and 24 March.
The items were intercepted amid concerns over the impact of smuggled goods on local producers.
Officials noted that removing such products from circulation helps reduce unfair competition and supports domestic manufacturing.
The latest seizures follow earlier interceptions of 2,539 kegs on 11 March 2026 and 2,090 kegs in December 2025.
“These seizures are a significant win for the Nigerian economy, protecting local manufacturers and supporting job creation.”
Illegal mineral export disrupted
In a separate operation, customs officers seized 285 sacks of mica stones weighing 50kg each.
The minerals, valued at ₦104,775,000, were formally handed over to the Federal Ministry of Solid Minerals Development in Abeokuta.
The agency said the interception highlights ongoing efforts to stop illegal mining exports that bypass regulatory systems.
Speaking through a representative, the Acting Customs Area Controller, Deputy Comptroller OO Afeni, said:
“The Ogun I Command under my leadership remains an impenetrable wall against the illicit outflow of our national wealth.”
He added that illegal mineral trade poses risks to both national security and economic stability.
Government praises inter-agency cooperation
A representative of the Ministry of Solid Minerals Development, Engr. Ojediran Abimbola Olubumi, commended customs officials for their vigilance.
The ministry said the seized mica would undergo geological analysis and be added to the national mineral database.
Officials say this process is part of broader reforms aimed at improving transparency and regulation in Nigeria’s mining sector.
Export performance shows sharp growth
The Ogun I Command also reported a significant increase in export activity for March 2026.
According to official figures:
March 2026: 277.8 metric tonnes, valued at $383,100
March 2025: 20 metric tonnes, valued at $104,600
This represents a 266% increase in export value compared to the same period last year.
Customs officials attributed the growth to improved processing systems and strengthened monitoring along the Idiroko border and surrounding waterways.
Why it matters
The seizures highlight Nigeria’s ongoing struggle with smuggling and illegal resource extraction.
Authorities say tackling these issues is key to:
Protecting local industries
Increasing government revenue
Strengthening border security
Supporting job creation
What’s next
Customs officials say surveillance along border corridors will continue to be intensified.
They also pledged to deepen collaboration with other government agencies to enforce trade and environmental laws.
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