- Naira hits two-year high at ₦1,347/$ as dollar pressure eases
- Terrorists’ threat letter demanding ₦100 million sparks panic in Kebbi community
- Power crisis deepens as GenCos reveal ₦6.5tn debt burden
- FG reconsiders shea nut export ban after industry laments
- Wike declares work free day and bans movement before FCT elections
Across Nigeria’s 36 states and the Federal Capital Territory, these are the top five Nigerian news stories you shouldn’t miss.
Naira hits two-year high at ₦1,347/$ as dollar pressure eases
Nigeria’s currency has strengthened in recent weeks, reaching about ₦1,347.78 per dollar, one of its strongest levels in nearly two years. A report by CardinalStone linked the rise to improved foreign exchange liquidity.
The gap between official and parallel rates narrowed after action by the Central Bank of Nigeria, which allowed licensed Bureau de Change operators limited access to foreign currency, easing pressure.
However, CardinalStone warned that rising foreign investor inflows could lead to profit-taking later this year. Despite this risk, analysts say better liquidity and reforms point to stronger stability in the exchange market for now, and overall stability ahead.
Terrorists’ threat letter demanding ₦100 million sparks panic in Kebbi community
Fear has spread across Utono community in Ngaski LGA of Kebbi State after suspected terrorists demanded ₦100 million before entering the town. The threat has raised fresh concerns over worsening insecurity in rural areas.
The message, reportedly delivered to community leaders early Thursday, warned residents not to ignore the demand. The group claimed it planned to enter and preach, adding that soldiers would not stop them if payment was refused.
The attackers also mentioned a past assault in Woru community, Kwara State, where lives were lost after a similar warning. Residents now fear possible violence and uncertainty.
Power crisis deepens as GenCos reveal ₦6.5tn debt burden
Electricity producers in Nigeria are struggling under massive debt, with the government owing about ₦6.5 trillion, according to the Association of Power Generation Companies’ CEO, Joy Ogaji. She shared this during an interview.
Ogaji explained that the debt was built up through the Nigerian Bulk Electricity Trader, which buys electricity from generation companies and supplies it to distributors.
She added that GenCos issue monthly invoices of about ₦280 billion, but only around 35% is paid. This leaves a monthly shortfall of roughly ₦200 billion, worsening financial pressure on power producers nationwide.
FG reconsiders shea nut export ban after industry laments
Authorities are reconsidering the temporary ban on raw shea nut exports after complaints from producers and exporters over lost income and foreign exchange. President Bola Tinubu imposed the six-month restriction in August 2025 to encourage local processing.
Speaking in Abuja, Industry Minister Jumoke Oduwole said the government would review submissions from stakeholders before advising the president on whether to extend or lift the ban. She stressed the need for fairness and balanced evidence.
Agriculture Minister Abubakar Kyari added that the review aims to protect jobs, support local value addition, and ensure policies benefit both businesses and the national economy.
Wike declares work free day and bans movement before FCT elections
Residents of the Federal Capital Territory will observe a work-free day on Friday, with movement restricted from 8 pm Friday to 6 pm Saturday. Nyesom Wike announced the measures ahead of the Area Council elections, urging voters to cast their ballots peacefully and responsibly.
The minister said the directive followed approval from President Bola Tinubu to allow residents travel and ensure smooth voting. Security agencies have been instructed to enforce the restriction strictly.
About 1.68 million voters have been cleared by the Independent National Electoral Commission. Wike said the elections should produce capable leaders and strengthen democracy and development in the territory.
