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 20th August, 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 N1602 and sell at N1605 on Tuesday 20th August 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 | N1602 |
| Selling Rate | N1605 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1587 |
| Selling Rate | N1588 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
The Nigerian National Petroleum Company (NNPC) Ltd has clarified that it is currently selling petrol (Premium Motor Spirit, PMS) at only half of its landing cost.
Speaking in Abuja on Monday, NNPC’s Chief Financial Officer, Umar Ajiya, emphasized that the company is covering what he termed as a “shortfall” rather than offering a subsidy.
Ajiya revealed that while the official pump price of petrol is around ₦600 per litre, the actual landing cost is closer to ₦1,200 per litre.
He confirmed to Bloomberg that NNPC has spent ₦7.8 trillion in the first seven months of 2024 to cover this shortfall.
Although subsidy typically means selling a product below cost price, Ajiya was keen to distinguish this situation from a traditional subsidy.
Despite internal communications between NNPC and the presidency—seen by TheCable—using the term “subsidy” to describe the shortfall, Ajiya denied that NNPC is engaged in subsidizing petrol during a media briefing on the company’s 2023 audited financial statements.
He stated that NNPC is merely managing the difference between the landing cost and the selling price in coordination with the Federation.
