The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange, the official forex trading portal, showed that the Naira closed at 1680.00 per $1 on Friday, October 4, 2024. Naira traded as high as 1657.00 to the dollar at the investors and exporters (I&E) window on Tuesday.
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 N1665 and sell at N1680 on Thursday 3rd October 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 (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1665 |
| Selling Rate | N1680 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1656 |
| Selling Rate | N1657 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Petrol Imports Decline By 3.58 Billion Litres In One Year—NBS Reports
The National Bureau of Statistics (NBS) has revealed a significant reduction in the importation of Premium Motor Spirit (PMS), commonly known as petrol, over the past year.
According to the latest petroleum distribution figures released by the agency, petrol imports decreased by 3.58 billion litres between 2022 and 2023.
The report highlights that total petrol imports fell from 23.54 billion litres in 2022 to 20.30 billion litres in 2023, representing a year-on-year decline of 13.77%.
Notably, the second half of 2023 saw a sharp decrease in imports, with 8.36 billion litres imported compared to 11.94 billion litres in the first half, marking a 29.99% reduction.
The NBS statement further clarified, “In 2023, PMS truck out stood at 20.22 billion litres, indicating a 16.96 percent decrease relative to 24.35 billion litres recorded in 2022.
“In terms of imported products, 20.30 billion litres of Premium Motor Spirit were imported in 2023 relative to 23.54 billion litres in 2022, showing a decrease of 13.77 per cent. This downward trend is even more notable when compared to H2 2022.
“In the latter half of 2022, petrol imports stood at 11.98 billion litres, resulting in a 30.22 per cent drop when compared to H2 2023, equivalent to a reduction of 3.62 billion litres.”
