Black Market Dollar To Naira Exchange Rate: 16th May 2024 Update

Black Market Dollar To Naira Exchange Rate: 16th May 2024 Update

Published on 16th May 2024 at 6:14 AM

By Noah abdulsalam

Inquire about the current Dollar to Naira exchange rate in the black market? Here are the latest rates for 15th May below. You can exchange your dollars for Naira at these rates…..read also Black Market Dollar (USD) to Naira (NGN) Exchange Rate Update for 15th May 2024

Are you curious about the current Dollar to Naira exchange rate in the black market? Here are the latest rates for 15th May below. You can exchange your dollars for Naira at these rates.

Negotiations for the new minimum wage have been central to discussions between Organized Labour and the government. These discussions aim to ease the economic burdens faced by workers due to recent policy changes, such as the removal of fuel subsidies and the unification of the foreign exchange markets, which have pushed the cost of living higher.

Labour leaders have demanded a substantial increase in the minimum wage for the lowest-ranked workers from N30,000 to N615,000, although there are indications that the tripartite committee might settle for N70,000.

In the 2024 budget, the government initially allocated N6.48 trillion for personnel costs. However, this figure may fall short of the requirements due to the new wage structure.