Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 3rd 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 2nd 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 N1713 and sell at N1720 on Saturday 2nd 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.

₦1,015-₦1,028 Per Litre: Dangote, NNPC Petrol Too Expensive – Marketers Move To Sell Cheaper Fuel

Oil marketers announced on Friday that Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Petroleum Refinery, is priced between N1,015 and N1,028 per litre, depending on purchase quantity.

In response, marketers expressed plans to import petrol and sell it below Dangote’s refinery prices as well as those of the Nigerian National Petroleum Company Limited (NNPCL).

Data from the Major Oil Marketers Association of Nigeria revealed that as of October 31, 2024, the landing cost of petrol stood at N978.01 per litre. Diesel and aviation fuel had landing costs of N1,069.97 and N1,119.67 per litre, respectively. Landing costs represent the unit prices of imported fuels upon arrival in Nigeria.

Despite requests for transparency, Dangote Refinery has not publicly disclosed its petrol prices. However, an anonymous source among major marketers confirmed to The PUNCH that Dangote sells bulk purchases at N1,015 per litre and smaller quantities at N1,028.

Additionally, recent cargoes with petroleum products have been unloaded at Nigerian seaports. The source noted that imported PMS remains cheaper than Dangote’s price, alleging efforts by Dangote to discourage government-permitted fuel imports.