By Kayode Sanni-Arewa

Armed unidentified men who recently kidnapped Abdulsalam Rabi’u, the winner of the National Qur’anic Recitation Competition, are demanding a ransom of ₦30 million for his release.

The young scholar, alongside his father and brothers, were abducted on Tuesday near Labin Bangori in Katsina State while returning home from a state recognition ceremony.

Details of the Abduction
Rabi’u, a medical student at Ahmadu Bello University (ABU), Zaria, hails from Katsina State and was recently honored for his exceptional performance in the Hizb 60 with Tajweed category of the National Qur’anic Recitation Competition held in Kebbi State.

Following his victory, Governor Dikko Umar Radda invited him and his father to the Katsina Government House for a special recognition event.

Unfortunately, after the ceremony, they were ambushed and taken captive by gunmen along with other family members.

Government’s Response
Katsina State’s Commissioner for Information and Culture, Bala Salisu-Zango, confirmed the ransom demand during an interview on Saturday. He assured the public that Governor Radda is deeply concerned about the situation and is taking all necessary steps to secure the victims’ safe release.

Rising Insecurity in Katsina
This incident highlights the ongoing security challenges in Katsina and other northern states, where kidnappings for ransom have become a frequent occurrence. The abduction of a national competition winner has sparked widespread concern, with many calling on authorities to intensify efforts to combat banditry and protect citizens.

As negotiations continue, residents and well-wishers remain hopeful for the safe return of Rabi’u and his family

By Kayode Sanni-Arewa

What is the Black Market (Parallel Market) Exchange Rate for Dollar to Naira?

Check out the black market exchange rate for the U.S. dollar to the Nigerian naira as of March 15, 2025. Below are the latest rates for currency exchange in the parallel market.

How Much is a Dollar to Naira Today in the Black Market?
As of Saturday,

March 15, 2025, the exchange rate at the Lagos Parallel Market (Black Market) sees traders buying a dollar for

₦1590 and selling at
₦1610, according to sources at the Bureau De Change (BDC).

It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize the black market and advises individuals looking to trade foreign exchange (Forex) to use their respective banks.

Dollar to Naira Black Market Rate Today
USD to NGN Black Market Exchange Rate Today

Buying Rate ₦1590

Selling Rate ₦1610

Dollar to Naira CBN Official Rate Today
USD to NGN CBN Exchange Rate Today

Highest Rate ₦1548

Lowest Rate ₦1480

Please note that exchange rates may vary based on location, trader, and transaction type, so the rates at which you buy or sell forex may differ slightly from what is stated here.

By Kayode Sanni-Arewa

Niger Republic has turned to Nigeria for assistance following a crippling fuel shortage, despite recent diplomatic tensions between the two neighboring nations.

Sources revealed to The PUNCH that a high-level delegation from Niger’s military junta traveled to Abuja to engage with representatives of the Nigerian government. After deliberations, Nigeria reportedly approved the delivery of 300 trucks of Premium Motor Spirit (PMS) to the West African country.

A senior Nigerian government official, familiar with the development, stated that the deal was approved with strategic intentions, as Nigeria aims to use it as a “bargaining tool” in ongoing negotiations with Niger.

According to the official, Niger had been relying on fuel imports from a Chinese refinery. However, disruptions in supply led to the refinery shutting down, leaving the country in a dire situation. As the crisis worsened, the Nigerien government reached out to Nigeria for emergency fuel supply, though the specifics of the arrangement remain undisclosed.

“We do not want to blow our trumpet. Rather, we want to use it as a bargaining chip for negotiation, as we continue to engage with them to bring them back to ECOWAS.

“Let them get more from us. I am confident that gradually they will come back to ECOWAS because they do not have enough resources to import food to sustain their citizens,” the source added.

Officials from the Nigerian National Petroleum Corporation Limited (NNPCL) indicated that such a deal would likely have been brokered by the Presidency, as the national oil company now operates as a limited liability entity. Similarly, a source at the Dangote Petroleum Refinery declined to comment, citing diplomatic sensitivities.

The Presidency also remained silent on the matter.

Niger’s Fuel Crisis Worsens

The fuel shortage in Niger reached critical levels last week, with reports indicating that the price of petrol soared to N8,000 per liter in some regions.

Findings in Sokoto State, which shares a border with Niger, revealed significant price variations depending on the location.

A Nigerian businessman involved in transborder trade, Mallam Abubakar Usman, described the severity of the situation: “There is serious scarcity of fuel in the country. It depends on where one is getting the fuel.

“In Konni, the border town between Nigeria and Niger, you can get a litre at 1,200 CFA, which is about N2,500. If you go to Agadez, the same litre of fuel is 3,000 CFA, equivalent to N7,500 per litre. In Arilit, a local government under Agadez, which is the border town between Niger and Algeria, it is 3,500 CFA, which is about N8,750 when converted to our currency

He attributed the crisis to the deteriorating diplomatic relationship between Nigeria and Niger.

An official of the Nigerian Immigration Service, speaking anonymously, confirmed that trucks carrying petrol had been spotted crossing the border into Niger.

Niger-China Oil Dispute Escalates Crisis

Niger’s fuel crisis is believed to be a result of a conflict between the country’s ruling military junta and Chinese oil companies, which have long dominated its petroleum sector.

Security analyst Zagazola Makama, in an article published on X, traced the dispute back to March 2024, when the China National Petroleum Corporation provided a $400 million advance to the Nigerien government, using future crude oil deliveries as collateral.

The funds were meant to help Niger cope with the economic sanctions imposed by ECOWAS following the July 2023 coup. However, when the repayment deadline arrived, the junta struggled to meet its financial obligations.

Rather than renegotiating, the military government responded by imposing an $80 billion tax demand on Soraz (Zinder Refinery Company), despite the state-owned Sonidep already owing the refinery a staggering $250 billion.

When China refused to grant additional loans, the junta retaliated by expelling Chinese oil executives and freezing Soraz’s bank accounts. The move backfired, leading to the collapse of Niger’s petroleum sector, which was heavily dependent on Chinese investment and expertise.

With the Soraz refinery grinding to a halt, fuel shortages spread rapidly. However, the Commercial Director of Niger’s state-owned oil company, Sonidep, Maazou Aboubacar, argued that the crisis was primarily due to the disruption of black-market fuel supplies from Nigeria.

The country’s refinery, he said, only provides Sonidep with 25 tanker trucks of petrol per day, while national consumption is nearly double that amount. Domestic demand surged further after the military government reduced fuel prices following its takeover in 2023.

Nigeria Extends a Helping Hand Despite Past Tensions
Despite strained relations, Nigeria has stepped in to supply Niger with fuel. The country’s leader, Brig. Gen. Abdourahmane Tchiani, previously accused Nigeria of collaborating with France to destabilize Niger through alleged support for terrorist groups.

In December 2024, Tchiani, speaking in Hausa, claimed that a terrorist training camp was being planned in Gaba Forest, near Sokoto, as part of an agreement between France and the Islamic State West Africa Province. He further alleged that Nigerian authorities were aware of the situation—an accusation Nigeria firmly denied.

In February 2025, Niger further strained relations by restricting entry for Nigerians carrying ECOWAS passports.

Counter-insurgency expert Zagazola Makama noted that despite these hostilities, Nigeria had chosen to assist Niger in mitigating its fuel crisis.

While sharing videos of fuel trucks heading into Niger, Makama pointed out that the junta remained reluctant to acknowledge its dependence on Nigeria.

“While fuel shipments from Nigeria have already started alleviating the crisis, Niger’s state media has deliberately avoided reporting where the fuel is coming from. Instead, the government has attempted to portray the fuel availability as a result of its own internal measures, a claim that many Nigeriens are beginning to question,” he stated.

Nigeria Supplies 13.5 Million Litres of Petrol
Reacting to the development, oil marketers estimated that the approved 300 trucks of PMS amounted to approximately 13.5 million liters of petrol.

With each truck carrying an average of 45,000 liters, the total supply to Niger is expected to help ease the crisis significantly.

However, the marketers reassured that Nigeria has enough fuel reserves to sustain domestic demand while extending support to its neighbors.

The National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, confirmed awareness of the fuel crisis in Niger and expressed confidence in Nigeria’s ability to supply fuel without any domestic disruptions.

“I will not say we don’t have that capacity with the refineries we have in the country. I think we have enough to supply Niger Republic,” he stated.

Similarly, Billy Gillis-Harry, National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), affirmed that Nigeria could provide fuel to Niger for diplomatic reasons without compromising its own supply.

“If we have a diplomatic reason for that, it is doable,” he said.