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, Euro to Naira black market, Pounds to Naira black market for April 14, 2024, 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) yesterday closed at N1205 per dollar according to data obtained from Bureau De Change (BDC) operators.Â
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Dollar to Naira Black Market Rate Today.
How much is $1 in Nigeria black market today?
CBN exchange rate dollar to Naira today
The CBN exchange rate dollar to Naira today is:
The Dollar to Naira Bank rate today is also the same as the CBN official rate. The only difference is just one to two naira difference from one bank to another.
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.
The rates you buy or sell forex at Aboki exchange rate today in Lagos and other Aboki Forex rates may be different from what is captured in this article because prices vary.
Pounds to Naira Today
Pounds to NGN CBN Rate Today
- Buying Rate: N1,873
- Selling Rate: N1,877
Euro to Naira black market Today
Euro to Naira exchange rate Today
- Buying Rate: N1,612
- Selling Rate: N1,613
Meanwhile, at the Lagos Parallel Market, popularly referred to as the Black Market, the exchange rate between the US dollars and the Naira concluded at 1650 per dollar yesterday, as reported by sources in the Bureau De Change (BDC).
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Nigeria’s Oil Production Slumps to 1.23mbpd, Continues Decline: OPEC Report
Nigeria’s crude oil production witnessed a consecutive monthly decline, dropping to 1.231 million barrels per day in March, according to the latest report from the Organisation of Petroleum Exporting Countries (OPEC).
The report, released in April 2024, revealed that Nigeria’s oil output fell from 1.322 million barrels per day in February to 1.231mbpd in March, marking a significant plunge of 91mbpd.
While the country’s average crude oil production for the first quarter of 2024 stood at 1.327mbpd, higher than the previous quarter’s average of 1.313mbpd, the downward trend in production signals ongoing challenges in the oil sector.
Factors contributing to the decline in oil production include oil theft and pipeline vandalism, which have remained persistent issues plaguing Nigeria’s oil industry. Recent data from the Nigerian National Petroleum Company Limited (NNPCL) revealed alarming figures, with 155 oil theft incidents recorded in one week alone.
The NNPCL report highlighted the prevalence of illegal pipeline connections and refineries in the Niger Delta region, with 53 illegal connections and 36 illegal refineries uncovered during the review period. Additionally, cases of vandalism, vessel infractions, oil spills, and arrests further underscore the severity of the situation.
Efforts to combat oil theft and vandalism have intensified, with the national oil company emphasizing its commitment to eradicating the menace. However, the scale of the problem remains daunting, with billions of naira lost annually to crude oil theft and related activities.
The dire consequences of oil theft extend beyond economic losses, impacting environmental sustainability and posing a threat to national security. International oil companies have responded by shifting focus to deep offshore fields or exiting the country altogether, exacerbating the challenges facing Nigeria’s oil sector.
In light of these developments, stakeholders are calling for enhanced regulations, technological solutions, and security measures to safeguard Nigeria’s oil infrastructure and mitigate losses. Addressing the root causes of oil theft and vandalism is paramount to sustaining growth and stability in the oil sector.
As Nigeria grapples with the complex issue of oil theft, concerted efforts are needed to curb illicit activities and safeguard the nation’s valuable natural resources.
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