Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 13th November 2024

What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?

See the black market Dollar to Naira exchange rate for 12th November, below. You can swap your dollar for Naira at these rates.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1730 and sell at N1740 on Tuesday 12th November 2024, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira CBN Rate Today

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Cement, Blocks, Paint, Others Rise By Over 100 Percent (See Price List)

A report has indicated that the cost of building materials has skyrocketed, amounting to over 100 per cent hike in the last 1 year.

The development has led to disruptions in the construction industry, posing significant challenges to large-scale developers and homeowners.

The increment can be attributed to a combination of factors, including disruptions in the supply chain, escalating labour cost and wholesalers raising prices compared to factory rates.

According to a report by Daily Trust, Cement prices surged from ₦4,000 to ₦8,800 per bag, representing a 100 per cent increase.

Blocks, which were selling for ₦250 each, last year, are now between ₦550 and ₦600 depending on the size.

Iron rods, which range from 10mm to 16mm, which cost ₦800,000 per ton in 2023, are now ₦1,600,000 per ton or more, depending on the company.

The cost of paints has also gone up as a big rubber, which hitherto cost between ₦23,000 and ₦25,000, is now between ₦46,000 and ₦50,000.