Business
Naira depreciates against dollar, exchanges for over ₦1,6000 at official market

At the Investor’s and Exporter’s (I&E) window, the Naira traded between ₦1,684 and ₦1,575 against the dollar.
The Naira on Wednesday slightly depreciated at the official market, trading at ₦1,631.17 to the dollar.
Data from the official trading platform of the FMDQ Exchange revealed that the Naira declined against the dollar by 72 kobo.
This represents a 0.04 per cent loss when compared to the previous trading date on Tuesday when it was exchanged at ₦1,630.45 to a dollar.
Also, the total daily turnover reduced to 128.98 million dollars on Wednesday down from 242.59 recorded on Tuesday.
At the Investor’s and Exporter’s (I&E) window, the Naira traded between ₦1,684 and ₦1,575 against the dollar.
#Naira #depreciates #dollar #exchanges #official #market
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Business
LP’s Abure faces probe as Otti, Kingibe, others suspended

The crisis in the Labour Party deepened on Wednesday as the Peter Obi-led faction constituted a special investigative panel headed
read more LP’s Abure faces probe as Otti, Kingibe, others suspended
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Business
How student pop-up cafés at UNILAG are breeding food tech innovations

By rotating venues across campus and offering limited-time menus, students gain real-world experience in operations while testing new recipes and digital tools.
Collaboration with faculty mentors and industry partners enables rapid prototyping of solutions like AI-driven inventory systems, protein snacks, and automated order management.
Successful teams have secured seed funding, launched formal startups, and prompted updates to hospitality and food science courses.
The 7 methods below show how these cafés serve as genuine food tech incubators.
1. Hands-on management of full operations
Students oversee all stages of café operations, from negotiating supplier contracts and forecasting costs to hiring staff and serving customers. They learn to manage cash flow, obtain bulk purchase discounts, and adapt to sudden changes in demand.
This end-to-end involvement builds the financial discipline and operational flexibility needed for any food technology venture.
ALSO READ: 8 Agritech innovations improving food security in Nigeria
2. Rapid recipe development driven by customer data
Rather than rely on guesses, students collect structured feedback through quick exit surveys, QR code polls, and social media comments.
They track which menu items sell best and tweak ingredients daily, swapping grains or adjusting spice levels, to balance taste quality and profit. This fast iteration mimics agile development in software startups.

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3. Creation of simple digital ordering and inventory tools
Café teams build web-based ordering portals and mobile interfaces that allow customers to select items and pay in advance.
Integrated dashboards show real-time sales volumes, ingredient consumption, and peak ordering windows. These insights reduce waste, improve stock planning, and highlight the value of data-powered operations.
4. Collaboration with food science research labs
By partnering with campus laboratories, students test new formulations such as soy-based alternatives or nutrient-fortified snacks under controlled conditions.
Lab support speeds up shelf life studies, nutritional analysis, and safety checks. Faculty researchers gain practical case studies, and students get hands-on experience in product validation.
RECOMMENDED: Agritech start-up seeks to tackle Nigeria’s food crisis
5. Partnerships with local food producers
Students source fresh ingredients from urban farms, smallholder cooperatives, and artisan vendors in surrounding communities.
In exchange for featuring these suppliers, pop-up cafes provide marketing exposure and direct customer feedback. These reciprocal relationships support local economies and teach ethical sourcing and supply chain transparency.
6. Pitch events and accelerator support
Regular showcases bring investors, accelerator managers, and corporate backers to campus to sample products and review business plans.
Several teams have won grants or been accepted into national incubator programs. This exposure teaches students how to craft pitches, structure revenue forecasts, and negotiate early-stage funding.
7. Integration into academic programs
Lessons from pop-up café operations feed back into entrepreneurship and hospitality courses.
Faculty now includes case studies on dynamic pricing, customer segmentation, and lean supply chain design drawn directly from student projects.
This continuous refinement ensures that academic curricula remain aligned with emerging trends in food technology.
By transforming transient campus cafés into collaborative hubs, UNILAG students gain practical skills and create pathways for food-tech ventures that address real market challenges.
This model demonstrates how experiential learning and industry engagement can accelerate startup formation and drive sector growth.
EXPLORE: 2025 Rankings: UNILAG, OAU miss out on top 10 most prestigious universities in Nigeria
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Business
Here’re what to know in VFD Group unaudited Q1’25 results

VFD Group Plc, a multi-sectoral investment Company, listed on the main board of the Nigerian Exchange (NGX) has released unaudited
read more Here’re what to know in VFD Group unaudited Q1’25 results
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