EXCLUSIVE: Today’s Black Market Dollar To Naira Rate—Find Out How Much Your Cash Is Worth

It’s important to note that the Central Bank of Nigeria (CBN) does not endorse the parallel market and advises individuals interested in foreign exchange to use their respective banks.

Dollar to Naira Black Market Rate Today:

Buying Rate: ₦1,663
Selling Rate: ₦1,670

Dollar to Naira CBN Rate Today:

Buying Rate: ₦1,602
Selling Rate: ₦1,603

Please keep in mind that the rates you encounter for buying or selling forex may differ from those stated here, as prices can fluctuate.

Cooking Gas Prices Soar to ₦1,500/kg

As Nigerians face rising petrol prices, the cost of Liquefied Petroleum Gas (LPG), commonly referred to as cooking gas, has also surged, now reaching ₦1,500 per kilogram at various retail locations across Ogun and Lagos States.

Suresh Kumar, Managing Director and CEO of NIPCO Plc, expressed hope that the start of operations at the Dangote refinery and other domestic refineries will help reduce cooking gas prices. He noted that over 60% of cooking gas consumed in Nigeria is imported, raising concerns about the country’s reliance on foreign supply.

Current market assessments indicate that cooking gas prices have reached ₦1,500/kg, significantly affecting consumers who depend on LPG for daily cooking.

In Abuja, the average cost for refilling a 12.5kg cylinder has soared by 41.6% to ₦17,000. Reports indicate that this same cylinder was priced at ₦12,000 just three months ago in July and ₦11,735 in January 2024.

These recent price increases reflect a troubling trend, suggesting that consumers are experiencing heightened financial strain.

A survey by Punch revealed that the price of cooking gas per kilogram in the Lokogoma area of Abuja has surged to ₦1,400, while prices in the Kubwa area range between ₦16,200 and ₦16,500. Conversely, some outskirts of Abuja, including Bwari, Kurudu, and Jikwoyi, still sell the product for around ₦1,300, indicating price discrepancies based on location. Major distributors continue to offer the product at rates ranging from ₦1,300 to ₦1,400.