The exchange rate for the dollar to naira at the black market, also known as the parallel market (Aboki fx), is as follows for today, August 15, 2024:
In the Lagos Parallel Market, a dollar is bought for N1595 and sold for N1600, according to sources at Bureau De Change (BDC). It is important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market and advises individuals seeking foreign exchange to approach their respective banks.
Dollar to Naira Exchange Rates Today:
Black Market:
- Buying Rate: N1595
- Selling Rate: N1600
CBN Official Rate:
- Buying Rate: N1579
- Selling Rate: N1580
Please be aware that actual rates may vary depending on where and when you conduct your forex transactions.
Insights from Port Harcourt Refinery Visit
Billy Gillis-Harry, the national president of the Petroleum Products Retail Outlets Owners Association of Nigeria, recently visited the Port Harcourt Refinery and shared positive feedback about the facility’s readiness to start producing petroleum products in large quantities. He expressed optimism that the refinery, along with the Dangote Refinery, would soon begin commercial production, helping to alleviate fuel shortages across Nigeria.
Gillis-Harry noted that efforts are in place to ensure the Port Harcourt Refinery becomes operational soon. This sentiment was echoed by oil and gas specialist Zakka Bala, who emphasized the importance of revitalizing Nigeria’s refineries for the country’s energy security.
