What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?
See the black market Dollar to Naira exchange rate for 22nd July, below. You can swap your dollar for Naira at these rates.
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 N1560 and sell at N1570 on Tuesday 22nd July 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 | N1560 |
| Selling Rate | N1570 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1533 |
| Selling Rate | N1534 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Fuel Import: FG Working Against Local Refineries – Operators Allege
Several operators of local refineries have expressed dissatisfaction with the recent announcement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), indicating that the Federal Government intends to persist with fuel imports, suggesting a stance against the local refining sector.
Naija News reports that the operators, represented by the Crude Oil Refiners Association of Nigeria, have voiced concerns over a recent interview with the Chief Executive Officer of NMDPRA, Ahmed Farouk.
In the interview, Farouk was quoted as characterizing locally produced diesel as ‘inferior’ compared to imported alternatives.
Furthermore, it was reported on Friday that the Federal Government, through NMDPRA, has affirmed its commitment to the continued importation of refined petroleum products alongside the production efforts of the Dangote Petroleum Refinery.
This decision aims to prevent monopoly and ensure the energy supply’s security.
The government has also cautioned against excessive reliance on the $20 billion refinery in the Lekki Free Zone in Lagos, emphasizing that the refinery’s demand for all oil marketers to source their products from the facility could hinder competition.
In an interview with journalists in Port Harcourt, the capital of Rivers State, Farouk was alleged to have made a statement regarding the quality of diesel produced by certain local refineries, which he described as inferior to imported diesel, a statement that has caused distress among local refiners.
In response to the regulatory stance, the Indigenous crude oil refiners have declared that the government’s position appears to favour imported fuels over local production.
The Publicity Secretary of the Crude Oil Refiners Association of Nigeria, Eche Idoko, said, “We are worried that the Chief Executive of NMDPRA would make such categorical statements, suggesting strongly that he is taking sides. So much so that he even ridicules his own agency’s processes when he refers to the petroleum products produced by refineries that his agency closely regulates as inferior, thereby undermining the country’s health and safety procedures. This has huge implications for the oil and gas industry, and energy security in Nigeria.”
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