Economy
Dangote Refinery increases fuel price
Dangote Refinery has increased its petrol (PMS) ex-depot price from ₦1,175 to ₦1,245 per litre, effective March 21, 2026, citing rising global crude oil costs and geopolitical tensions.
This latest hike follows previous increases in early March, raising costs by ₦70 per litre. The new pricing is expected to increase pump prices nationwide.
Key Details of the Price Hike:
New Price: The ex-depot (gantry) price increased to ₦1,245 per litre.
Effective Date: The new price applies to all unloaded products from 12 a.m. on March 21, 2026.
Reason: The refinery cited escalating global geopolitical tensions (specifically mentioning Middle East conflicts) and higher international crude costs.
Impact: Marketers with existing, authorized orders can still lift products at previous rates, provided their bank guarantees cover the differential.
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Previous Hikes: This move represents the third major upward adjustment within a week, having risen from ₦995 to ₦1,175 earlier in the month, according to Peoples Gazette Nigeria and Instagram reports.
The price adjustment is expected to result in increased transportation and consumer goods costs throughout Nigeria.
See Exchange Rate As Naira Gains 0.07%
The Black Market Dollar-to-Naira Exchange Rate for 29th April 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 29th April 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1400 and buy at ₦1390 on Wednesday 29th April, 2026, according to sources at Bureau De Change (BDC).
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 Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1400
Buying Rate ₦1390
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1385
Lowest Rate ₦1367
The Nigerian Exchange Limited fined over 30 listed firms, a cumulative sum of N562.6 million.
The fine came because the firms missed financial filing deadlines, facing penalties, suspensions, and delisting.
This is according to the latest X-Compliance Report, stating that the firms failed to submit 2025 audited financial statements on time.
Listed firms like STACO Insurance, Union Dicon Salt, Pharma-Deko, and FTN Cocoa Processors now risk delisting, with some in restructuring.
Similarly, Aluminium Extrusion and Prestige Assurance are hit by the fine.
Beyond filing delays, the NGX highlighted breaches related to unauthorized disclosures and trading during closed periods. and were cited among PPP companies that violated disclosure rules, attracting regulatory caution.
Additional structural concerns within the NGX, particularly around free float deficiencies. Several companies, including Aluminium Extrusion Industries and Prestige Assurance, fell below required thresholds, prompting regulatory waivers and compliance timelines aimed at restoring market liquidity.
NGX penalises over 30 firms for filing breaches
As of Tuesday morning, April 28, 2026, the exchange rate between the US Dollar and the Nigerian Naira has shown relative stability in the official window while facing slight pressure in the parallel market.
Current Exchange Rates
Official Rate (NAFEM): The Naira is currently trading at an average of ₦1,360.56 per $1. It opened the session at ₦1,359.23 and has seen minor intra-day fluctuations, reaching a high of ₦1,360.19 in early trading.
Parallel Market (Black Market): The Dollar is being exchanged at rates between ₦1,480 and ₦1,495. Retail liquidity remains tight across major hubs in Lagos, Abuja, and Kano.
CBN Rate: The Central Bank of Nigeria’s internal benchmark is currently positioned at ₦1,358.44.
Key Market Indicators
Inflation Rate: 15.38%
Monetary Policy Rate (MPR): 26.5%
Naira Performance: Over the past month, the Naira has strengthened by approximately 1.94%, benefiting from increased global crude oil prices and recent monetary policy adjustments.
Market Note: Despite the official stability, the gap between the official and parallel markets remains roughly ₦120 – ₦135, a spread that traders are monitoring for potential arbitrage risks.
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