Dollar to Naira Exchange Rates
Black Market Dollar To Naira Exchange Rate To 9th May 2023
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 8th May, 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 N740 and sell at N748 on Monday 8th May 2023, 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 | N740 |
| Selling Rate | N748 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Fuel Subsidy: Nigerians May Spend N8tn On Petrol In Six Months
Petrol consumers may pay about N8.4tn for Premium Motor Spirit, popularly called petrol, between July and December 2023 once the Federal Government stops subsidy on PMS in June.
According to the latest findings and industry data, this represents about a 250 percent increase from the N2.4tn PMS consumers would spend during the period if the government chose to retain the subsidy regime.
Oil marketers explained that the average cost of petrol could rise to about N700/litre from July, should fuel subsidy be brought to an end in June as projected by the Federal Government.
The development means that the expense by Nigerians for fully deregulated petrol could rise by N6tn during the six-month period, going by the insistence of the government that fuel subsidy would end in June.
With a projected average cost of N700/litre once the subsidy is removed, it implies that Nigerians would pay about N46.2bn daily for petrol, which translates to approximately N1.4tn monthly and N8.4tn in six months (July to December 2023).
