The exchange rate for the dollar to naira in the black market (also known as the parallel market) is a crucial piece of information for those looking to convert currency outside of official channels. On Friday, August 23, 2024, in Lagos, black market traders were buying dollars at N1610 and selling at N1615, according to sources from the Bureau De Change (BDC).
It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market and advises individuals seeking foreign exchange to approach their respective banks for transactions.
Black Market Rates:
- Buying Rate: N1610
- Selling Rate: N1615
CBN Official Rates:
- Buying Rate: N1591
- Selling Rate: N1592
Please be aware that the rates at which you buy or sell forex may vary from those mentioned here, as market conditions can fluctuate.
NNPC’s Revenue from Crude Oil Sales in 2023
The Nigerian National Petroleum Company (NNPC) Limited has reported a significant increase in revenue from crude oil sales in 2023, totaling ₦14.07 trillion. This represents a staggering 298.7% increase from the ₦3.52 trillion generated in 2022, as disclosed in its Audited Financial Statements (AFS) for the fiscal year ending December 31, 2023.
Additionally, NNPC reported ₦7.14 trillion in revenue from petroleum product sales in 2023, marking a 58.74% rise from the ₦4.5 trillion earned in 2022. Revenue from natural gas sales also saw impressive growth, reaching ₦2.3 trillion, a 237.31% increase compared to the ₦683 billion recorded in 2022.
In a noteworthy development, the NNPC revealed that the country earned ₦94 million from power sales in 2023, a significant improvement from zero revenue in the previous year. Revenue from services also surged, reaching ₦464.94 billion, up 362.5% from the ₦100.5 billion earned in 2022.
Dollar to Naira Exchange Rate in Black Market on August 24, 2024
The exchange rate for the dollar to naira in the black market (also known as the parallel market) is a crucial piece of information for those looking to convert currency outside of official channels. On Friday, August 23, 2024, in Lagos, black market traders were buying dollars at N1610 and selling at N1615, according to sources from the Bureau De Change (BDC).
It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market and advises individuals seeking foreign exchange to approach their respective banks for transactions.
Black Market Rates:
- Buying Rate: N1610
- Selling Rate: N1615
CBN Official Rates:
- Buying Rate: N1591
- Selling Rate: N1592
Please be aware that the rates at which you buy or sell forex may vary from those mentioned here, as market conditions can fluctuate.
NNPC’s Revenue from Crude Oil Sales in 2023
The Nigerian National Petroleum Company (NNPC) Limited has reported a significant increase in revenue from crude oil sales in 2023, totaling ₦14.07 trillion. This represents a staggering 298.7% increase from the ₦3.52 trillion generated in 2022, as disclosed in its Audited Financial Statements (AFS) for the fiscal year ending December 31, 2023.
Additionally, NNPC reported ₦7.14 trillion in revenue from petroleum product sales in 2023, marking a 58.74% rise from the ₦4.5 trillion earned in 2022. Revenue from natural gas sales also saw impressive growth, reaching ₦2.3 trillion, a 237.31% increase compared to the ₦683 billion recorded in 2022.
In a noteworthy development, the NNPC revealed that the country earned ₦94 million from power sales in 2023, a significant improvement from zero revenue in the previous year. Revenue from services also surged, reaching ₦464.94 billion, up 362.5% from the ₦100.5 billion earned in 2022.
