Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 20th December 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 19th December, 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 N1655 and sell at N1660 on Thursday 19th December 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.

The Federal Government’s expenditure on electricity subsidies surged to ₦199.64 billion in December 2024, marking a 2.76% increase from the ₦194.26 billion spent in November, according to the Nigerian Electricity Regulatory Commission (NERC).

The rise was attributed to fluctuations in key economic indicators, including the exchange rate, which NERC pegged at ₦1,687.45 to the dollar, an inflation increase to 33.9%, and changes in available power generation capacity.

These factors necessitated a minor review under the ‘December 2024 Multi-Year Tariff Order’ report.

Despite these changes, NERC noted that electricity tariffs for all customer categories were retained.

While Band A customers continued to pay ₦209/kWh, tariffs for customers in Bands B to E remained frozen at rates first set in December 2022.

As a result of this policy, the Federal Government is expected to spend ₦29.10 billion as subsidies for consumers under the Abuja Electricity Distribution Company (AEDC), up from ₦27.86 billion in November.

Similarly, consumers under Ikeja Electric will receive ₦26.68 billion in subsidies.