Dollar To Naira Exchange Rate: Black Market (USD To NGN) For September 28, 2024

Today’s Dollar to Naira Exchange Rate
Curious about the current Dollar to Naira exchange rate on the black market, also known as the parallel market (Aboki fx)? Below is the rate for September 27th. These are the rates you can use to exchange your dollars for naira today.

Black Market Dollar to Naira Exchange Rate
At the Lagos Parallel Market (Black Market), currency dealers were buying dollars at ₦1690 and selling them at ₦1700 on Friday, September 27th, 2024, as reported by sources within the Bureau De Change (BDC) network.

Important Information:
The Central Bank of Nigeria (CBN) does not officially recognize the black market. It encourages individuals needing foreign exchange to conduct transactions through their respective banks.

Current Dollar to Naira Rates

• Black Market (Aboki fx):
  • Buying: ₦1690
  • Selling: ₦1700
• CBN Official Rate:
  • Buying: ₦1637
  • Selling: ₦1638

Please note that actual exchange rates may vary slightly depending on market conditions.

Dangote Refinery and Marketers to Discuss Fuel Pricing and Distribution

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed plans to meet with Dangote Refinery this week to discuss the direct purchase of Premium Motor Spirit (PMS), also known as petrol, with the aim of negotiating possible price reductions.

IPMAN’s spokesperson, Chief Chinedu Ukadike, expressed optimism that direct petrol lifting from Dangote Refinery would soon commence for independent marketers. This meeting comes as the oil and gas sector continues to face challenges in effective petrol distribution, despite Dangote’s efforts.

“There is a scheduled meeting this week between Dangote and IPMAN. We are pleased with Dangote’s approach in involving other stakeholders in its product distribution. Currently, it distributes to major marketers, and we are hopeful independent marketers will be included soon,” Ukadike said.

According to Naija News, petrol prices at Nigerian National Petroleum Company Limited (NNPC) outlets and independent filling stations vary between ₦950 and ₦1,100, depending on the region, following Dangote’s fuel distribution efforts.