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Business

Kaduna Inland Dry Port woos more partners with better service delivery ahead of 2021

The management of the he Kaduna Inland Dry Port hopes to woo more partners by offering better services to its clients.

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The Kaduna Inland Dry Port has emphasized its commitment to ensuring efficient and improved service delivery in 2021. The envisaged improved service entails better services to its clients and wooing more partners in the days ahead.

This is according to a report by the Nigerian Television Authority.

Speaking to the News Agency of Nigeria in Kaduna State on Wednesday, the Port Manager, Mr. Rotimi Hassan, said, “We want to put the setbacks caused by COVID-19 pandemic behind us and strategize to ensure economic activities pick up beginning from next year.

We want to create the necessary awareness and publicity on our services, so that people can use this place as their final port for exports from the northern part of the country.

“In the northern part of the country, there are so many exporting activities like the export of ginger, tiger nuts, sesame seeds, many other cash crops and solid minerals,’’ he said.

In his concluding remarks, Mr. Hassan implored the Federal Government to expedite the rehabilitation of existing rail lines across the country and expand them so as to decongest the roads.

(READ MORE: Sanwo-Olu to stop pension for former governors, deputies)

Why it matters

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The recent assurance by the Port Manager is imperative, especially with regards to the diversification of the economy, which is one of the cardinal policy thrusts of the present regime. In addition, the improved service delivery either in the short or long run will also help ensure that at least the agency breaks even or minimize losses arising from economic redundancy.

What you should know

The Kaduna Inland Dry Port was commissioned by the Federal Government of Nigeria in 2017 to operate as a port of origin and destination. It has 4,000 square meters capacity warehouse for storage of imported or ready to be exported goods.

Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion

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Business

FG to name new train station after Mobolaji Johnson

FG to name flagship train station located at Ebute Metta after the former Governor of Lagos State, Mobolaji Johnson.

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The Federal Government is set to name its flagship train station located at Ebute Metta after the former Governor of Lagos State, Mobolaji Johnson.

This was disclosed by the Ministry of Transportation via its Twitter handle on Sunday.

It tweeted, “New indoor photos of our flagship station located at Ebute Metta. It is to be named Mobolaji Johnson Station after the former Governor of Lagos State. Please share your thoughts.”

What you should know

The Federal Government has also stated why the China Civil Engineering Construction Company (CCECC) Nigeria Limited could not link the final part of the Lagos-Ibadan rail line to the sea, according to Nairametrics.

The government in its explanation said that it was due to disruption by trucks going in and out of the port complex.

According to a press statement signed by the Director, Press and Public Relations of the Federal Ministry of Transportation, Eric Ojiekwe, this disclosure was made by the Minister of Transportation, Rotimi Amaechi, while on a routine tour of the Lagos-Ibadan rail line project on Saturday, April 10, 2021.

 

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Business

The five-ingredient of a successful startup pitch

Every great pitch has these 5 ingredients to help you maximize your chances when fundraising for your startup.

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Startups typically prepare a pitch deck to present to potential investors for funding. A pitch deck is a brief presentation that provides investors with an overview of your business. It typically focuses on showcasing your product and business model. An excellent pitch is highly essential to the success of a startup seeking funding from investors.

According to Romeen Sheeth, an angel investor who heard 200 companies pitch and invested over $1million last year, every great pitch has these 5 ingredients to help you maximize your chances when fundraising.

  • Problem:  Is this an issue?
  • Solution:  Do you have the fix?
  • Market:   Is this a big enough issue?
  • Business: Can you make money
  • Team:  Do you have the human resources to do it?

READ: Billionaire investors in Nigeria you may not know

The best pitches nail all 5. Good ones hit 4. Subpar hit 3 or less.

Problem

The problem statement is an explanation of why a set of circumstances is painful for a set of users. There’s one word in that sentence that is most important: painful. If your problem is not painful enough, it’s a vitamin. The best startups are pain killers.

Solution

The solution statement is an explanation of how you address the pain felt by your users. If you don’t have the right solution, you won’t get customer traction. Customers don’t buy your thesis on the pain point. They buy the actual thing that solves their pain point.

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READ: How Quidax is Building Africa’s Next Billion-Dollar Crypto Startup

Market

In tech, only businesses that have outsized potential get funded. To have outsized potential, you have to either be in a: (a) small, but rapidly growing market or (b) large existing market that can be resegmented. If not, the business is not venture backable.

Business

The business model defines how you print cash. What is the key insight you’ve figured out that other people haven’t? You don’t need to reinvent the wheel on everything to be a compelling business. Just explain the secret sauce that helps you capture the value.

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Team

Everything else is academic if you can’t execute. Ultimately the investor is betting on your team’s ability to bring out the reality in the insights around the problem, solution, market, and business. Communicate why you are the best in the world to build the business.

Once you feel good about these 5, think through the connection points. Every topic that comes up in the conversation will be a function of a connection point. For example:

  • Problem-Market = Industry Dynamics
  • Solution-Market = Competition
  • Market-Business = Unit Economics

Bottom line

When you pitch, always keep it simple. Understand the 5 core ingredients, think through how they relate to one another, communicate with clarity, and don’t assume investors understand your business.

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