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Dollar To Naira Today Black Market

Black Market Dollar To Naira Exchange Rate Today 24th January 2023

dollar to naira exchange ratetoday

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 23rd January, 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 N750 and sell at N755 on Monday 23rd January 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 RateN750
Selling RateN755

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

BREAKING: Yahaya Bello allegedly withdraws his support for Tinubu in the 2023 elections.

As the push for a total deregulation of the downstream oil sector gets stronger, Nigerians have been forewarned that they might likely pay as high as N800/litre if subsidies are removed from the fuel.

Naija News reports that oil marketers made this prediction even as the fuel scarcity bites harder and lingers longer than expected.

The federal government through the Minister of Finance, Budget and National Planning, Zainab Ahmed, recently revealed that it would gradually withdraw subsidy on petrol, as budgetary allocation for subsidy would end in June.

The pronouncement follows several calls for fuel subsidies to be removed in other to attract more investments to the downstream oil sector in the country.

Industry experts have continually push for this course with the argument that the high cost of subsidy on petrol was a burden on the Nigerian National Petroleum Company Limited (NNPCL) and that it’s the rich and not the average that benefit from the exercise.

The subsidy regime has brought burdens upon the NNPCL as the sole importer of petrol into Nigeria, and this has lingered the crisis of price and other factors in the downstream oil sector.

However, Naija News understands that reacting to the push, oil markers have called on the federal government to ensure a friendly subsidy removal regime.

The Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN) Abuja-Suleja, Mohammed Shuaibu told Punch while it could be advisable to remove subsidy, Nigerians should know that the cost of petrol could cross N800/litre once the commodity was no longer subsidised.

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