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FG Stresses Commitment to Develop Dry Ports
By Modupe Gbadeyanka
Minister of Transport, Mr Rotimi Amaechi, says federal government will do everything in its power to ensure that the objectives of Inland Dry Port are achieved in Jos, Plateau state and other designated states.
Mr Amaechi stated this during the site inspection of Heipang, Jos Inland dry port.
He added that the move was to ease the challenge of doing business for importers and exporters from that part of the country.
According to him this will also avoid the stress exporters and importers encounter as they approach Lagos, Warri, Port Harcourt or Sapele seaports.
“I hope the concessioner will conclude the construction and whatever installations that he needs to do, and I hope the shippers council will give him all the necessary support that he needs”
“When they met with me, I also did make some concessions to them. I encouraged them to conclude whatever it is they need to do and I am doing that because the facility will employed some people from plateau state,” the Minister explained.
Mr Amaechi said the development of such facilities across the country is based on tripartite arrangement with federal government, state government and the private investors with stakeholders to play a vital role in the implementation.
On his part, the Governor of Plateau State, Mr Simon Lalong appreciated the Federal government for the inland container port.
Mr Lalong appreciated the minister’s job, and added that he expects the Jos narrow gage and other rail system links to the state to be completed.
“I also want to also use this opportunity to express the concerns of the people of plateau state with regards our airport. Sometimes they will tell us that’s its international airport, other times, they will say it is not.
From history, Jos airport happens to be one of the first grade airports in this country. But unfortunately, the airport is as it was in the 80s up till this moment”
Mr Lalong also appealed to the minister to conclude the construction of the airport for immediate use, adding that “the state can also come in where necessary.
“We are already waiting because if they start the construction, “there are interventions the state government will also want to go in immediately.”
“The railway from Kaduna to Abuja, all the travellers from Bauchi, gombe yobe and Maiduguri were all eager to see the same type being constructed from Abuja to Jos. Just Abuja to Jos will be enough to accommodate six or seven states from Yobe, Taraba, Gombe, Adamawa, Bauchi and the whole of northeast and I am sure if you do that, it will take care of the insurgency in the north.”
Responding, Mr Rotimi Amaechi said that “the Jos railways will be concluded after negotiations with GE. We will rehabilitate the old narrow gauge” he said, adding that “the old narrow gauge starts from Port Harcourt passing through Jos to Maiduguri and is about 3,505km”.
“The narrow gauge will cover Jos temporarily while we look for money for standard gauge. The difference between standard gauge and narrow gauge is the speed. One is 80 km, one is 220 to 350km. Depending on what you can afford to build”.
By Aduragbemi Omiyale
An institutional investor, First Ally Capital, has strengthened a leading Nigerian financial technology company, Mathesis Analytics, to scale its proprietary credit decisioning infrastructure.
It made this possible by injecting fresh capital into the firm, which specialises in AI-powered credit decisioning infrastructure, an action that will directly support the growth and scaling of Mathesis’ core mission of providing the intelligence and infrastructure needed to bridge the credit gap for millions of unscored or underscored individuals across Nigeria.
With this investment, Mathesis will enable financial institutions to confidently assess and extend credit to borrowers who lack a formal credit history by leveraging an expanded pool of alternative behavioural and transactional data.
To date, Mathesis’ systems have supported more than 8 million loans for over 2 million unique borrowers in Nigeria, and the company is actively deploying its infrastructure to establish a growing pan-African footprint.
With the investment from First Ally Capital, Mathesis is well positioned to transform how the credit ecosystem operates, driving financial inclusion in partnership with lenders across the continent.
A significant barrier to credit access in Nigeria, which prides itself on being Africa’s largest economy, is data fragmentation. Borrowers frequently build positive financial behaviours across multiple digital platforms by repaying microfinance loans, saving through fintech wallets, or servicing Buy Now, Pay Later (BNPL) facilities.
However, under traditional credit infrastructure, these achievements remain invisible to new lenders.
Mathesis addresses this challenge through the concept of Personal Equity—the quantified expression of an individual’s financial behaviour aggregated across every institution with which they have transacted.
By translating these disparate signals into a precise, portable measure of creditworthiness, Mathesis creates a comprehensive credit identity that reflects the full breadth of a person’s financial life.
“True financial inclusion cannot be achieved in a vacuum; it requires structural collaboration in which lenders and fintech companies work as partners within the ecosystem.
“This investment from First Ally Capital validates our approach to reshaping credit infrastructure. By quantifying Personal Equity, we empower lenders to safely look beyond the constraints of formal credit histories and recognise a borrower’s true creditworthiness. This capital enables us to accelerate our pan-African expansion while maintaining the robust, institutional-grade infrastructure our partners rely on,” the chief executive of Mathesis Analytics, Winston Osuchukwu, stated.
On his part, the chief executive of First Ally Capital, Mr Ebenezer Olufowose, said, “At First Ally Capital, we pride ourselves on being a one-stop destination for financial solutions, offering a diverse portfolio of services ranging from investment banking and asset management to trusteeship, inclusive banking, and real estate.
“Our investment in Mathesis Analytics reflects our strong belief in the company’s vision and our commitment to supporting forward-thinking enterprises that deliver excellence.”
By Aduragbemi Omiyale
The chief executive of Canal+ Africa, Mr David Mignot, has disclosed that MultiChoice is now fully integrated into the media group.
Mr Mignot disclosed this via a statement issued on Thursday, noting that this development marks a new phase in the evolution of one of Africa’s leading pay television operators.
He noted that the integration positions MultiChoice within a global media organisation with an extensive international footprint.
“MultiChoice is now a full subsidiary of a truly international media group operating in 70 countries. The group was founded in France, is listed in London and Johannesburg, and has a strong African presence with operations in more than 45 countries,” Mr Mignot said.
The statement underscores the scale of the combined business, highlighting Canal+’s global reach alongside its significant investments across Africa.
The completion of the transaction is expected to strengthen MultiChoice’s position in the African media and entertainment market by giving it access to the broader resources, expertise and international capabilities of the Canal+ Group, while reinforcing the group’s commitment to the continent.
MultiChoice operates across sub-Saharan Africa through platforms including DStv and GOtv, serving millions of subscribers with entertainment, sports and news content.
By Adedapo Adesanya
FoodCourt, a Nigerian cloud kitchen startup backed by Y Combinator, has suspended operations after months of unpaid salaries and mounting debts to vendors triggered a staff strike and forced the company to halt customer orders, according to a report by TechCabal.
The publication reported that customers first noticed on March 4 that they could no longer place orders through the FoodCourt app after the company disabled ordering as kitchen workers, delivery personnel and branch staff embarked on strike over unpaid wages. The company also owed outstanding payments to vendors.
By April 19, FoodCourt had temporarily shut its last operating branch after suspending activities across its Lagos and Abuja locations while seeking fresh funding and restructuring the business, according to the report.
The company’s chief executive, Mr Henry Nneji, said the decision to pause operations was not caused by a single issue but by a combination of operational, organisational and working-capital challenges.
“It’s important to clarify that the decision to pause operations wasn’t driven by one single issue. We reached a point where it became clear that continuing to patch those issues while operating wasn’t the right long-term decision,” he said.
“The objective is to build a stronger business than the one that existed before the suspension. We fully intend to bring FoodCourt back,” he added in an emailed response.
The company acknowledged outstanding obligations to employees, vendors, riders and service providers, but declined to disclose the number of affected workers or the total amount owed. It said efforts were underway to resolve the liabilities as part of its restructuring process.
It was also reported that the startup’s financial difficulties worsened after expansion into additional locations increased operating costs, while its cloud kitchen model came under pressure from rising labour, logistics, food and marketing expenses.
Despite the shutdown, Mr Nneji said FoodCourt intends to relaunch after completing its restructuring, adding that the company believes demand for its products remains strong.
Founded in 2021 by Henry Nneji and Paul Adokiye Iruene, FoodCourt operates cloud kitchens under multiple virtual restaurant brands through its consumer app. According to TechCabal, the startup had previously disclosed raising $1.7 million, delivering more than one million meals and reaching $4.3 million in annual recurring revenue by the end of 2024.
