The naira has gained ground against the US dollar over the past year, according to official exchange rate data.

The figures

The naira traded at about ₦1,346.79 to the dollar on 6 November 2026, compared with ₦1,436.74 on the same date in 2025, a gain of about ₦90, or 6.26 per cent, according to reports on Monday, 9 November. Nigeria's external reserves have risen to about $55.13 billion.

Why it matters

A stronger naira could reduce the cost of imported raw materials, machinery, medicines and other goods priced in foreign currency. However, how quickly that feeds through to lower prices for consumers depends on businesses passing on the savings.

Background

The naira lost much of its value after the government unified the exchange rate in 2023, when the official rate was about ₦461 to the dollar. The Central Bank of Nigeria has since taken steps to stabilise the foreign exchange market and improve dollar supply. The naira's performance has become a campaign issue: President Bola Tinubu said last week that it would have become worthless without his reforms, while the campaign of APM candidate Seyi Makinde said the President could not claim credit for a recovery after policies that weakened it.

Gunmen have reportedly killed a soldier and three residents, including a 15-year-old boy, in an attack on a village in Plateau State.

What happened

The attack took place at about 9pm on Sunday, 8 November 2026, in Bell village, Sho community, in Barkin Ladi Local Government Area. A resident said the attackers stormed the village and opened fire on residents, leaving some dead and others injured. A local youth association confirmed the killings, identifying three of the victims, aged 15, 28 and 32.

Official response

The police and the military had not publicly commented on the attack at the time of writing.

Background

Barkin Ladi and other parts of Plateau State have suffered repeated deadly attacks on rural communities in recent years. On Sunday, APM presidential candidate Seyi Makinde visited Angwan Rukuba in Jos North to console families of 33 people killed in an attack in March. Bishop David Oyedepo also warned politicians last week about the failure to stop killings and kidnappings.

Kano State police say they have rescued the All Progressives Congress (APC) chairman in Rogo Local Government Area, Abdullahi Alasan Beli, popularly known as Abdullahi Fanka, after 68 days in captivity.

The rescue

Commissioner of Police Adamu Bakori announced the rescue while briefing Governor Abba Kabir Yusuf at Government House, Kano, on Sunday, 8 November 2026, according to a statement by the state Commissioner for Information, Sanusi Bature Dawakin Tofa. The police chief said the rescue was achieved through coordinated tactical operations, and that the command would step up efforts against kidnapping.

His ordeal

Beli was abducted by armed men from his home in Beli community, Rogo LGA. After his release, he said his kidnappers moved him through several places, including Danja, Ikara and Giwa in Kaduna State, as well as parts of Zamfara State.

Reactions

Governor Yusuf commended the police for securing the release of the APC chieftain.

Background

Kidnapping for ransom has affected parts of Kano, especially areas bordering Katsina and Kaduna states. It was not disclosed whether any ransom was paid.

The Edo State Consumer Protection Committee says it has uncovered a site in Benin City where fake and chemically treated kpomo, the popular cow-skin delicacy, was being produced and sold.

What happened

The committee's chairman, Osaro Iyamu, said officials acted on a tip-off in the early hours of Monday, 9 November 2026, and raided a spot near Efehi Street in New Benin Market. He said two women were arrested with the products, while others ran away, and that some market women later admitted to the practice. The two suspects were handed to the police for further investigation.

The danger

Chemically treated food products can pose serious health risks, and fake kpomo has been a recurring concern in Nigerian markets.

Background

Kpomo is widely eaten across Nigeria in soups and stews. Regulators have previously urged consumers to buy food from trusted sources.