Aboki Rate: Latest US Dollar To Naira Black Market Rates Today, 2 September 2022

What is the Dollar to Naira Exchange rate at the official CBN rate, aboki fx, and the black market? How much is the Dollar to Naira exchange rate today, 1st September 2022? You convert your dollar to Naira at these rates, or you convert your dollar to Naira at the most recent, official CBN rate, black market, or parallel market rate.

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

The official rate today, Thursday, September 1st, 2022, for 1 dollar to naira = ₦429.00/$1.

According to the data obtained from the FMDQ, where Naira is traded officially, the exchange rate between the naira and the US dollar opened at ₦429.00/$1 on Thursday 1st September and closed at ₦430.00 to $1.

US Dollar to Naira Black Market Rate Today, 1st September 2022.

Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today

Buying Rate
696

Selling Rate
690

Naija News reports that the US dollar to naira exchange rate changes hourly. The exchange rate fluctuates depending on the volume of dollars available and the demand for it. This means the exchange rate you buy and sell the dollar could be different hours later (high or low).

Factors that could Influence Foreign Exchange Rates in Nigeria

Conditions of Trade
Speculators
Government Debt
Interest Rates
Inflation Rates

Bureau De Change operators have cited a lack of FX and a surge in demand for the recent uncontrolled uptrend recorded in the market. In the same vein, some bank users who have FX in their domiciliary account told Nairametrics that they have not been able to withdraw their funds from the bank due to tightened liquidity.

Gas Infrastructure Deficit Requires $2bn Annually – Sylva

The Minister of State for Petroleum Resources, Timipre Sylva on Tuesday said the Federal Government has put the estimated amount required to bridge Nigeria’s gas infrastructure deficit at $2bn annually.

Sylva revealed this at the inauguration of the Governing Council of the Midstream and Downstream Gas Infrastructure Fund.

According to the minister, the cause of poor gas production, gas flaring and low domestic gas utilisation across Nigeria is the gas infrastructure deficit.

The Minister took the opportunity to admonish the nine-member council to work seriously to mobilise funds for the provision of critical infrastructure for the gas industry.

The media aide to the minister, Horatius Egua quoted his principal saying, “It is estimated that more than $20bn yearly will be required over the next 10 years to bridge these gaps.”

Sylve further stated that the council would drive economic development and prosperity for the nation and its partners through the Petroleum Industry Act 2021.