Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today – 8th March 2024

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today – 8th March 2024

Looking for the latest black market exchange rate for the dollar to naira? Find out the current rates here.

The exchange rate for a dollar to naira at the Lagos Parallel Market (Black Market) stands at N1610 for buying and N1620 for selling as of Thursday, 7th March 2024, according to reliable sources at Bureau De Change (BDC)……READ ALSO Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 6th March 2024

It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and advises individuals interested in forex transactions to approach their respective banks.

Dollar to Naira Black Market Rate Today

• Buying Rate: N1610
• Selling Rate: N1620

Dollar to Naira CBN Rate Today

• Buying Rate: N1589
• Selling Rate: N1590

Please be aware that the forex rates for buying or selling may differ from the figures provided in this article due to market fluctuations.

Despite NLNG ‘Supply Increase’, Cooking Gas Price Soars, Scarcity Looms

Despite the Nigeria Liquefied Natural Gas (NLNG) Limited’s reported increase in supply, the price of cooking gas, also known as Liquified Petroleum Gas (LPG), continues to surge, leading to scarcity in Lagos.

Reports indicate that cooking gas prices have skyrocketed to as high as N1,300 per kilogram.

NLNG has clarified its commitment to providing nearly 500,000 metric tons of LPG annually to meet market demand, as part of its pledge to allocate 100 percent of its LPG production to the domestic market.

However, despite these assurances, the price of the commodity has continued to rise, exacerbated by the depletion of supply at most outlets in Lagos, leading to long queues at refilling plants and shortages at Nigerian National Petroleum Company (NNPCL) retail outlets.

Marketers, such as TotalEnergies, have been selling limited quantities at exorbitant prices, leaving customers grappling with unexpected price hikes.