The Dollar to Naira exchange rate in the black market, also known as the parallel market, saw a slight increase on Friday, September 27, 2024. According to sources from Bureau De Change operators in Lagos, the dollar was being bought at ₦1690 and sold at ₦1700. Despite the official rates set by the Central Bank […]
Category archives: Business
Kwara State Reaffirms Commitment to Livestock Investment and Job Creation
Kwara State Governor AbdulRahman AbdulRazaq has emphasized his administration’s dedication to investing in key infrastructure and equipment in the livestock sector to improve the well-being of the state’s citizens. Speaking at the 3rd batch training workshop for 100 additional extension agents and farmers, the governor, represented by the Commissioner for Agriculture and Rural Development, Mrs. […]
Dollar to Naira Exchange Rate Today – Black Market (27th September 2024)
As of today, the dollar to naira exchange rate in the black market, also known as the parallel market, is as follows: These rates are sourced from Bureau De Change (BDC) operators in Lagos on Thursday, 26th September 2024. It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the […]
Global Refiners Face Profit Decline as New Plants, Including Dangote Refinery, Come Online
Oil refiners in Asia, Europe, and the U.S. are experiencing a sharp drop in profitability due to the emergence of new refineries, such as Nigeria’s 650,000 bpd Dangote Refinery and petrochemical plant. Other notable plants include Mexico’s Dos Bocas, Kuwait’s Al Zour, and Oman’s Duqm refinery. Analysts attribute the slump to excess refining capacity and […]
Shettima Declares Tinubu-Led Government Most Investor-Friendly in Nigeria’s History at 79th UNGA
Vice President Kashim Shettima has lauded the current administration under President Bola Ahmed Tinubu as the most investor-friendly in Nigeria’s history. Speaking at the 79th United Nations General Assembly (UNGA), Shettima announced that Nigeria had already secured $320 million in investment commitments from the U.S. Chamber of Commerce. Among these commitments, the American International Development […]
Dangote Urges Nigerian Government to Remove Fuel Subsidy for Economic Growth
Aliko Dangote, President and CEO of the Dangote Group, has called for the removal of fuel subsidies in Nigeria. Speaking during a 26-minute interview with Bloomberg Television in New York, Dangote emphasized that eliminating the subsidy would help determine the country’s actual petrol consumption and reduce financial waste. Dangote, who owns two oil blocks expected […]
Black Market Dollar to Naira Exchange Rate for 24th September 2024 and Insights on Nigeria’s Foreign Reserves Boost
Dollar to Naira Exchange Rate Today As of 24th September 2024, here are the black market (parallel market) rates for Dollar to Naira transactions. At Lagos’ Parallel Market, a dollar is bought at N1660 and sold at N1665, according to Bureau De Change (BDC) sources. Note: The Central Bank of Nigeria (CBN) does not officially […]
Rising Power Subsidy Signals Potential Electricity Tariff Increase
Electricity customers on Band A feeders should prepare for a possible tariff hike as the government’s electricity subsidy has surged to N181.63 billion in September, up from N102.30 billion in May. This significant rise follows the Nigerian Electricity Regulatory Commission’s (NERC) previous removal of subsidies for these customers, who typically receive a minimum of 20 […]
Dollar to Naira Exchange Rate: Black Market Rates for 22nd September 2024
The exchange rate for the dollar to naira in Nigeria’s black market, also known as the parallel market (Aboki fx), remains highly competitive. According to information gathered from Bureau De Change (BDC) operators, the rates on Sunday, 22nd September 2024 are as follows: For those using the official Central Bank of Nigeria (CBN) rates, the […]
Govt Interventions Could Lower Dangote Petrol Price Below N600/litre – Refiners
With appropriate government interventions, the price of petrol produced by Dangote Petroleum Refinery could fall below N600 per litre, according to the Crude Oil Refiners Association of Nigeria (CORAN). Speaking to Sunday PUNCH, CORAN’s Publicity Secretary, Eche Idoko, emphasized that the current high prices, driven by the exchange rate, could drop significantly if local crude […]