See the black market Dollar to Naira exchange rate for 19th July, below. You can swap your dollar for Naira at these rates. The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1560 and sell at N1580 on Saturday 19th July 2024, according to sources at Bureau De Change (BDC)......Read The Full Article>>.....Read The Full Article>>
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.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
|---|---|
| Buying Rate | N1560 |
| Selling Rate | N1580 |
| Dollar to Naira (USD to NGN) | CBN Rate Today |
|---|---|
| Buying Rate | N1584 |
| Selling Rate | N1585 |
The national average retail price for Premium Motor Spirit, commonly known as petrol, saw a significant year-on-year increase of 37.44%, rising to ₦750.17 per litre in June 2024 from ₦545.83 per litre in June 2023.
This data was revealed in a recent report by the Nigerian National Petroleum Corporation (NNPC).
Despite this substantial annual increase, the average retail price experienced a slight month-on-month decline of 2.53%, falling from ₦769.62 per litre in May 2024 to ₦750.17 per litre in June 2024.
The increase in petrol prices can be attributed to several factors, including fluctuations in global oil prices, exchange rate volatility, and changes in government policies regarding fuel subsidies.
The National Bureau of Statistics, NBS, report on Premium Motor Spirit,(Petrol) Price Watch for June 2024 disclosed that Benue State topped the price chart for the product at ₦864.55, followed by Jigawa and Rivers States with ₦847.00 and ₦810.00 respectively.
However, Lagos, Kwara and Ogun States emerged as the states with the lowest retail price for the product at ₦626.94, ₦650.00 and ₦670.63, respectively. Lastly, the South-South zone had the highest average retail price of ₦794.64, while the South-West zone had the lowest price of ₦696.42.
