What is the Dollar to Naira Exchange Rate in the Black Market (Parallel Market/Aboki FX)?
Below is the black market Dollar to Naira exchange rate for January 14, 2025. You can exchange your dollars for Naira at these rates:..
Black Market Dollar to Naira Exchange Rate (Aboki FX):
Buying Rate: ₦1650
Selling Rate: ₦1660
According to sources at Bureau De Change (BDC) outlets, the exchange rate in the Lagos parallel market shows that players are buying dollars for ₦1650 and selling for ₦1660 on Tuesday, January 14, 2025.
It is important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market and has directed individuals seeking foreign exchange (forex) to approach their banks.
CBN Official Dollar to Naira Rate
Highest Rate: ₦1560
Lowest Rate: ₦1545
Please note that the forex rates mentioned in this article may vary depending on location and market conditions.
Rising Fuel Prices in Nigeria
Meanwhile, the cost of loading Premium Motor Spirit (petrol) and other refined petroleum products at depots surged on Monday, raising concerns about potential increases in pump prices across the country.
According to The PUNCH, oil marketers increased depot prices for petrol and diesel by ₦43 (4.74%), driven by rising crude oil prices. Brent crude, the global benchmark, reached $79.76 per barrel on Sunday, fueling the cost hike.
Several depots adjusted their petrol loading prices:
Swift Depot: ₦950 per litre (up from ₦907)
Wosbab Depot: ₦950 (up from ₦909)
Sahara Depot: ₦950 (up from ₦910)
Shellplux Depot: ₦960 (up from ₦908)
Chipet Depot: ₦960 (up from ₦908)
Other depots followed suit:
Nipco Depot: ₦950 per litre (up from ₦912)
Matrix Warri Depot: ₦945 (up from ₦925)