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 Monday, October 7, 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 N1675 and sell at N1680 on Sunday 6th 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 | N1675 |
| 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.
‘Price Of Beef May Hit ₦10, 000 Per Kg Soon’
The cost of a kilogram of beef in Nigeria may soon reach₦10,000, up from₦3,000 to₦5,000 just a few months ago, unless pastoral farmers receive urgent support.
This prospective price increase shows the growing accessibility challenges for ordinary Nigerians as the country’s economic crisis continues.
During a media appearance in Abuja, Mrs. Winnie Lai Solarin, Director of Animal Husbandry Services at the Federal Ministry of Livestock Development, raised concerns about growing beef prices.
She cited rising feed and water expenses, as well as increased insecurity in rural areas, as the key reasons for the rise in meat prices.
In recent months, many Nigerians have expressed concerns over the rising costs of meat and other protein sources. The price of a kilogram of beef has jumped to between₦6,000 and₦7,000, compared to just₦3,000 to₦3,500 a few months ago.
She said: “The livestock sector has been neglected; what we need in this sector is feed and water, as well as market regulations for our products. A lot of these things have not been in place. 80 percent of the meat on our table is from the pastoralists, and if the pastoralists are embattled, you don’t expect things to go well.
“Before, they were getting grass and feed very cheap, but today they have to buy. It is the restructuring that is causing this; they need to buy feeds, and they are unable to get cheap feeds. If you have a high cost of feed, you will have a high cost of product, just like what we have in the poultry sector.
“High cost of maize and soya is driving the cost of poultry products; the chicken we used to have is not that cheap anymore, the same thing for livestock.”
