Dollar to Naira Exchange Rate on the Parallel Market
As of today, October 4th, 2024, the exchange rate for the dollar to naira in the black market (also known as the parallel market or Aboki fx) is available. Below are the exchange rates for buying and selling dollars:
- Buying rate: N1665
- Selling rate: N1680
These rates apply to the Lagos Parallel Market, as reported by sources from Bureau De Change (BDC). Please note, the Central Bank of Nigeria (CBN) does not recognize the black market for foreign exchange and advises individuals to approach their banks for legitimate Forex transactions.
CBN Rates Today
- Buying rate: N1656
- Selling rate: N1657
Note: The actual rates for buying or selling may vary slightly depending on your Forex provider.
Significant Drop in Petrol Imports by 3.58 Billion Litres – NBS Report
The National Bureau of Statistics (NBS) reports a substantial reduction in the importation of Premium Motor Spirit (PMS), commonly known as petrol, over the past year. According to their data, petrol imports declined by 13.77%, falling from 23.54 billion litres in 2022 to 20.30 billion litres in 2023.
The decrease was particularly notable in the second half of 2023, with only 8.36 billion litres imported compared to 11.94 billion litres in the first half, marking a 29.99% reduction.
