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How I was denied entry into South Africa – BUA Chair

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The founder of BUA Group, Abdul Samad Rabiu, said South African authorities denied him entry because his visa expired a day before his arrival in 2025, while Europeans were reportedly allowed into the country without visas.

The business mogul disclosed his travel experience while speaking at the Africa CEO Forum titled “Africa at Scale: Capital, Policy, and the Architecture of Growth” on Thursday in Kigali.

The billionaire said he returned to Lagos after waiting at Cape Town airport for hours, noting the experience as part of the challenges faced by Africans in Africa.

“I had a personal experience. Last February, I was travelling to Cape Town for the Mining Indaba. And as we landed, I left at night from Lagos to Cape Town. We arrived at 6 in the morning.

“As we arrived, we went to immigration. I tendered my passport, and the immigration officer looked at it and asked, ‘Where is your visa?’ and I said, ‘My visa is there.’ Unknown to me, my visa had expired the day before.

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“Unfortunately, our crew did not check the visa to ensure the visa was valid. We were there for four hours, but at the end of the day, I had to turn back. I was turned back to Lagos,” he said.

According to the BUA Group chairman, passengers from three international flights, most of whom were Europeans, were allowed into Cape Town without visas.

The businessman said he understood why he was denied entry, but noted that allowing foreigners from other continents into South Africa without visas while restricting Africans from entering did not sit well with him.

“But the issue is, while we were waiting to see whether we would be able to get access to the countries without visas, there were three international flights from Europe. All three flights were mostly Europeans.

“I was standing there by the immigration desk, and every passenger on those three flights went into Cape Town without any visa. I do not have a problem with the fact that I was there without the visa and I was returned. I took full responsibility for that,” he said.

“I had an issue with being an African in Africa, being turned away because I did not have a visa, while foreigners from other continents were coming in and were allowed to enter without a visa. This must change,” he said.

Lack of cooperation

Mr Rabiu said there is a lack of cooperation among African countries, which affects the movement of Africans and also frustrates business expansion from one country to another on the continent.

Giving another instance, he said some countries lack the spirit of agreement on the continent, noting that their practices were not supportive when the BUA Group tried to expand into those countries.

“At BUA Group, as we expanded our regional investment, we actively sought to supply several African markets under the African Continental Free Trade Area framework.

“While some countries embraced the spirit of agreement, others were less supportive in practice, with administrative barriers and legacy import structures limiting our ability to participate fully in regional trade.

“So really, AfCFTA is not working as it should. Because I had a personal experience in one of the countries that we tried to penetrate, we were actually frustrated,” he said.

The BUA Group chairman said the experience underscores a broader challenge facing Africa, noting that although the African Continental Free Trade Area framework was created to integrate African markets, implementation across the continent remains inconsistent.

According to him, true integration is what transforms potential into economic scale, with the AfCFTA serving as a key driver through its market of more than 1.4 billion people across 55 countries.

ALSO READ: South Africa relaxes visa rules for Nigerian tourists, business persons

He described the AfCFTA as one of the world’s most ambitious integration initiatives, stating that “its promise is clear: intra-Africa trade, regional value chains, and industrial scale that no single economy can achieve alone. Its potential does not deliver outcome, execution does.”

Africa’s transformation

Mr Rabiu said Africa’s next phase of transformation largely depends on five areas: capital, policy, infrastructure, value addition, and integration.

According to him, Africa needs capital to finance ambition, policy to enable execution, infrastructure as the foundation of growth, value addition to unlock the full value of its resources, and integration to unlock scale and fully drive its next phase of transformation.

“Let me start with capital. Across the continent, institutional capital is expanding—pension funds, sovereign wealth funds, and increasingly sophisticated private investment vehicles, yet infrastructure financing remains far below potential.

“The reality is clear: Africa is not short of capital; it is short of coordinated, mobile capital deployed at scale. We must unlock cross-border capital flows, harmonise investment frameworks, strengthen project preparation, and expand risk-sharing mechanisms for both domestic and international investments.

“Deepening capital markets is equally critical; cross-border listings, interoperable settlement systems, and expanded local currency trade are not merely technical reforms; they are strategic infrastructure,” he said.

He said segmented legal frameworks, overlapping approvals, and inconsistent enforcement continue to raise the cost of investment across many regions in Africa, describing them as structural constraints on growth.

“What is required is clear and transparent rules, predictable enforcement, and coordinated industrial strategies across borders. Alignment does not compromise independence; rather, it strengthens economic performance,” he added.

He reiterated that infrastructure is important to Africa’s growth, noting that no economy can industrialise without systems that power growth, including reliable energy, efficient ports, modern rail networks, quality roads, and digital connectivity.


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Business

SMEs Celebrate Business Growth, Increased Visibility at Leadway Lifestyle Fair 2026

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Small and medium-sized enterprises (SMEs) have commended Leadway Group, one of Nigeria’s foremost non-bank financial services providers, for connecting them with new customers, boosting their visibility, and driving sales at the recently concluded Leadway Lifestyle Fair 2026. 

The second edition of the fair, themed “For the Love of the NaijaLifestyle”, ended on Sunday, 25 October, bringing together 100 businesses alongside consumers, lifestyle enthusiasts, content creators and celebrities. Throughout the event, vendors reported a steady flow of visitors to their booths, with many recording sales, meeting new customers and growing their social media following. 

For some exhibitors, it was their first exhibition showcase, and the results exceeded their expectations, as shown by the sales they made, the new customers they met and the visibility they gained from taking part in the fair. 

Speaking on the initiative, Niyi Abiola, Head, Corporate Services, Leadway Group, said the fair was created to give small businesses a platform to showcase their products and connect with consumers. 

“Lifestyle is an important part of how people live, connect and engage with the world around them. With the Leadway Lifestyle Fair, we wanted to create more room for businesses to showcase what they do and reach more people. Having grown from about 25 vendors in our first edition to 100 this year, we are encouraged by the response and look forward to making the experience even bigger in the years ahead,” Abiola said. 

Olusakin Labeodan, Managing Director/Chief Executive Officer, Leadway PFA speaking on behalf of Leadway Group, said the fair reflects the Group’s wider approach to building relationships with its customers beyond the financial solutions it provides. 

“The growth of the fair from its first edition to this year’s event shows the value of creating platforms that bring businesses and consumers together. At Leadway, our relationship with customers goes beyond the financial solutions we offer across insurance, pensions, wealth management, trusteeship, health and hospitality. We also recognise the importance of being part of their everyday experiences, and lifestyle is a significant part of that,” Labeodan said. 

With the number of participating businesses growing fourfold in a year, the Leadway Lifestyle Fair has quickly become a meeting point for Nigerian entrepreneurs and the consumers they serve. LeadwayGroup said it will continue to expand the platform in future editions, allowing more small businesses to reach new customers, grow their brands and celebrate the creativity that defines the Naija lifestyle. 

About the Leadway Group 

The Leadway Group is a diversified financial services ecosystem offering comprehensive retail and corporate non-banking financial solutions. Spearheaded by its non-operating holding entity, the Group provides a unified portfolio of cross-functional services through its market-leading associate companies: general and life insurance (Leadway Assurance), pension fund administration (Leadway PFA), corporate trusteeship and estate planning (Leadway Capital & Trusts), investment portfolio advisory (Leadway Asset Management), and health management (Leadway Health).  Driven by discipline and continuous innovation, Leadway Group is committed to securing future financial freedom and health outcomes for millions of customers across West Africa. 

The post SMEs Celebrate Business Growth, Increased Visibility at Leadway Lifestyle Fair 2026 appeared first on Business Today NG.

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NUPRC urges investors on 2026 licensing round

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged investors to take advantage of Nigeria’s 2026 oil and gas licensing round, highlighting the country’s improving investment climate amid growing global energy uncertainties.

The Commission Chief Executive, Oritsemeyiwa Eyesan, made the call on Monday during a roundtable discussion titled ‘Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security’, at the 2026 ADIPEC Exhibition and Conference in Abu Dhabi.

Ms Eyesan told investors that Nigeria offers a stable investment environment and announced that the licensing round portal would officially open on 20 November 2026.

She urged prospective investors to explore the opportunities presented by the 2026 Licensing Round, which offers 40 oil and gas blocks.

“We are expecting investors to turn to Nigeria. We are going into another licensing round, and we will launch our bid portal on November 20. We expect to see interested investors because the environment is a lot more competitive,” she said.

“We have set a very attractive fiscal framework for investors. The overall environment is much more secure. We have been able to manage costs with a lot of incentives for investors, and we expect to see investors take up the offer when we open the portal.”

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The NUPRC chief executive said Nigeria’s investment climate had improved following the enactment of the Petroleum Industry Act (PIA) in 2021 and the executive orders signed by President Bola Tinubu.

According to her, between 2021 and 2026, the commission conducted at least four successful licensing rounds, attracting additional investments into the country.

She said this represented a departure from the pre-PIA era, when licensing rounds were less frequent.

Ms Eyesan also highlighted Nigeria’s enormous gas potential, noting that the country holds an estimated 215 trillion cubic feet (TCF) of gas reserves but produces barely seven billion cubic feet (bcf) daily.

She said the gap between available reserves and current production presented significant opportunities for investors, particularly with major gas infrastructure projects in the pipeline.

“The stars are already aligned. For gas infrastructure, we just completed very major infrastructure projects that will unlock gas supply in the country and the sub-region.

“We talk about two major projects on the drawing board to move gas through the Nigeria-Morocco Atlantic Gas Pipeline and Trans-Sahara Gas Pipeline. Again, this gas will go to Europe and will also meet regional demand. So, Nigeria is positioned to meet not just domestic supply,” the NUPRC chief executive said.

Ms Eyesan maintained that competition for investment in the global petroleum industry had intensified as more countries discovered oil and gas resources.

She said Nigeria had taken steps to position itself ahead of the competition by introducing reforms and making adjustments to attract the right category of investment.

“We understand that investors will prize execution risk, cost, delays and also uncertainty, and so what we have done in Nigeria is to ensure that we guard against these risks and then attract the investment required to enable us to unlock the huge resources we sit on,” she said.

2026 Licensing Round

On 7 October, the NUPRC announced the 2026 Licensing Round, offering 40 oil and gas blocks to prospective investors.

The announcement came less than three months after the commission concluded the bidding programme for its 2025 licensing round.

PREMIUM TIMES reported that 31 companies emerged as winners of 37 oil and gas blocks in the 2025 Licensing Round after the commercial bid conference held in Abuja in July.

The bidding process, conducted at the Transcorp Event Centre, attracted 143 companies, which submitted about 200 bids for 37 of the 50 oil and gas blocks offered by the commission.

The blocks span several terrains, including the Niger Delta onshore, shallow-water and deep-offshore areas, as well as the Benin, Anambra and Chad basins and the Benue Trough.

While 37 blocks attracted bids, the remaining 13 received no offers.

The NUPRC described the outcome as significant, noting that it was the first time Nigeria’s frontier basins, including the Benue Trough, Chad Basin, Anambra Basin and Benin Basin, had attracted such strong investor interest.

Following the 2025 licensing round, the commission also outlined plans to increase crude oil production by restoring more than 788,000 barrels per day of shut-in production and advancing offshore projects valued at an estimated $30 billion to $50 billion towards final investment decisions.


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