Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 16th October 2024
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 15th October, 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 N1663 and sell at N1670 on Tuesday 15th October 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
N1663
Selling Rate
N1670
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN)
CBN Rate Today
Buying Rate
N1602
Selling Rate
N1603
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Price Of Cooking Gas Increases To ₦1,500/kg
As Nigerians grapple with soaring petrol prices, the cost of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has also surged, reaching ₦1,500 per kilogram at various retail outlets across Ogun and Lagos States.
The Managing Director and Chief Executive Officer of NIPCO Plc, Suresh Kumar, expressed optimism that the commencement of operations at the Dangote refinery and other domestic refineries would help bring down the prices of cooking gas.
He highlighted that over 60 percent of the cooking gas consumed in Nigeria is imported, raising concerns about the country’s dependency on foreign supply.
Current market checks confirm that the price of cooking gas has hit ₦1,500/kg, significantly impacting consumers who rely on LPG for their daily cooking needs.
In Abuja, the average price for refilling a 12.5kg cylinder has skyrocketed by 41.6 percent to ₦17,000, with reports showing that the same cylinder sold for ₦12,000 just three months ago in July and ₦11,735 in January 2024.
The recent price hikes reflect a troubling trend in the market, suggesting that consumers are facing increasing financial pressure.
A recent survey conducted by Punch revealed that the price of a kilogram of cooking gas in the Lokogoma area of Abuja has surged to ₦1,400, while in the Kubwa area, the price ranged between ₦16,200 and ₦16,500.
In contrast, some outskirts of Abuja, including Bwari, Kurudu, and Jikwoyi, still see the product sold for around ₦1,300, showcasing price discrepancies depending on location. Major distributors continue to sell the product at rates varying from ₦1,300 to ₦1,400.
The post Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 16th October 2024 appeared first on Naija News.
