NewsOnline Nigeria has obtained the official naira black market exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC), and CBN rates. Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market. As of now, you can purchase 1 dollar at a certain rate now, however, it’s important to remember that the rate can shift (either upwards or downwards) within hours.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1660 and sell at N1670 on Friday 27th September 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 (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1660 |
| Selling Rate | N1670 |
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1650 |
| Selling Rate | N1655 |
NewsOnline Nigeria reports that the Nigeria National Petroleum Company Limited (NNPCL) has announced that petrol prices will increase across the states.
The price increase, NewsOnline Nigeria reported, followed a statement from NNPCL stating that it bought petrol at a higher rate from Dangote Refinery on Sunday.
NNPCL’s statement also disclosed that contrary to the federal directive, Dangote Refinery sold its refined product on Sunday in US dollars and not naira.
The statement, however, disclosed that Dangote Refinery will sell its October product in naira.
A breakdown of the chart from NNPCL showed Dangote Refinery sold petrol to NNPCL at ₦898.78 per litre. NNPCL paid a Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fee of ₦8.99, an inspection fee of ₦0.97, a distribution cost in Lagos of ₦15, margin of ₦26.48.
NNPCL’s statement added that the estimated pump price in Lagos will be ₦950.22, Sokoto State ₦999.22; Kano State ₦999.22, Borno State ₦1,019.22, Kaduna ₦999.22, FCT ₦992.22, Oyo State ₦960.22, Lagos State ₦950.22, Rivers State ₦980.00, Imo State ₦980.22.
An analysis of the chart showed that except for Lagos State, other states of the federation will be paying higher because of distribution costs.
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