Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 14th August 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 13th August, 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 N1593 and sell at N1598 on Tuesday 13th August 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.

Dangote Petrol May Sell At ₦600/Litre – Marketers

Independent petroleum marketers in Nigeria are anticipating that petrol from the Dangote Petroleum Refinery will be sold at a price of ₦600 to ₦650 per litre once it is released to the market.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) believes that the Dangote refinery, like it did with diesel, will help reduce the cost of petrol.

IPMAN’s National Vice President, Hammed Fashola, explained in an interview with The Punch that the $20 billion refinery could lower fuel prices, provided it receives adequate support, particularly in securing crude oil supplies.

He noted that the Nigerian National Petroleum Company Limited (NNPCL), the current sole importer of petrol, sells the product to marketers at ₦570 per litre. However, many IPMAN members purchase it from private depot owners at prices exceeding ₦700 per litre.

“We are marketers, we go for the best. We have been buying from the NNPC, but if the opportunity of Dangote comes and the price is favourable, we will grab it. It depends on the price.

“The official price from the NNPC is around ₦570/litre, but the third parties, the private depots sell PMS to most of our members at ₦700 and above.

“Plus or minus, we hope Dangote can sell between ₦600 and ₦650/litre. ₦600 is still okay. However, it depends on the cost of the production from Dangote’s end. We have to be factual and sincere to ourselves. The NNPC we are talking about has an element of subsidy or what they now call under-recovery. I think something is hidden there,” Fashola stated.