Economy
Nigeria secures aircraft financing deal with Afreximbank
By Francesca Hangeior
A development financing institution, African Export–Import Bank, Afreximbank, has agreed in principle to collaborate with Nigeria on aircraft financing.
Afreximbank, while announcing plans to launch a leasing subsidiary, which will soon take delivery of 25 aircraft to be leased to African airlines, said it will provide Nigerian airlines with access to dry-leased aircraft that would enable them to better service Bilateral Air Service Agreement, BASA, routes and domestic operations.
A statement by Mr Tunde Moshood, special adviser on Media and Communications to the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, said the partnership was achieved during a side meeting held with the Afreximbank team at the four-day Aviation Economic Conference in Dublin, Republic of Ireland.
The statement reads: “A significant milestone in Nigeria’s aviation sector was achieved during a side meeting held with the Afreximbank team at the ongoing Aviation Economic Conference in Dublin, Republic of Ireland. The meeting, facilitated by Boeing’s Senior Director of Finance, Lereece Rose, brought together key stakeholders to discuss aircraft financing opportunities for Nigerian airlines.
“The meeting was attended by the Minister of Aviation and Aerospace Development, Festus Keyamo SAN, who led the Nigerian delegation. The delegation included distinguished members such as the Chairman, Senate Committee on Aviation, Senator Abdulfatai Buhari; Chairman, House Committee on Aviation, Abdullahi Idris Garba, Chairman, Senate Committee on Banking, Insurance, and Other Financial Institutions, Senator Abiru Adetokunbo; Director General of the NCAA, Capt. Chris Najomo; Managing Director of Fidelity Bank, Dr. Nneka Onyeali-Ikpe; COO of Air Peace, Toyin Olajide; CEO of XEJet, Emmanuel Iza; Chairman, ValueJet, Kunle Soname and his Managing Director, Capt. Majekodunmi, and Chairman/CEO of Bellagio Air, Dr. Oludare Akande, among other aviation stakeholders.
“At the meeting, Afreximbank, led by its Director and Global Head of Project and Asset-Based Finance, Helen Brume, agreed in principle to collaborate with Nigeria on aircraft financing. Highlighting the bank’s extensive experience in supporting airlines such as Arik Air, Kenya Airways, and TAG over the past two decades, Brume emphasized the need for robust aviation infrastructure to enhance the competitiveness of African airlines.
“To address this, Afreximbank announced plans to launch a leasing subsidiary, which will soon take delivery of 25 aircraft to be leased to African airlines. This initiative aims to provide Nigerian airlines with access to dry-leased aircraft, enabling them to better service Bilateral Air Service Agreement, BASA, routes and domestic operations.
“Lereece Rose commended the Minister for his efforts in improving Nigeria’s aviation ecosystem, particularly in raising Nigeria’s Cape Town Convention score from 49.5% to 75.5 per cent. This progress underscores the country’s commitment to creating an enabling environment for aircraft financing and leasing.
“The Minister highlighted the critical need for partnerships that would enhance access to aircraft financing for Nigerian operators, facilitating growth and improved service delivery. In response, Afreximbank affirmed its readiness to work with the Nigerian government, signaling a promising future for the country’s aviation industry.
“A committee has been established to follow up on the discussions, ensuring that this partnership materializes into actionable solutions for Nigerian airlines.”
The Black Market Dollar to Naira Exchange Rate for 3rd December, 2025, 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, 3rd December 2025?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1473 and buy at ₦1465 on Wednesday 3rd December, 2025, 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 ₦1473
Buying Rate ₦1465
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1450
Lowest Rate ₦1443
The Nigerian naira continued to trade under pressure in the unofficial foreign exchange market on Sunday, with traders in Lagos reporting another round of fluctuations in the dollar–naira exchange rate.
According to information gathered from several Bureau De Change (BDC) operators, the U.S. dollar sold for ₦1468 while buying stood at ₦1460 at the parallel market. This rate reflects the pricing used by street currency dealers and is often influenced by daily demand, liquidity conditions, and prevailing economic sentiment.
Important CBN Position on Black Market Transactions
The Central Bank of Nigeria (CBN) has repeatedly emphasized that it does not recognize the black market as an official channel for forex trading. The apex bank maintains that all legitimate foreign exchange transactions should be conducted through commercial banks or other authorized financial institutions.
Despite this directive, many Nigerians still resort to the parallel market due to delays, documentation requirements, or limited access to forex through official channels.
Black Market Dollar to Naira Rates Today
USD to NGN Black Market Rate (Nov. 30, 2025)
Selling Rate ₦1468
Buying Rate ₦1460
Official CBN Dollar to Naira Rates Today
USD to NGN CBN Official Rate
Highest Rate ₦1449
Lowest Rate ₦1445
The official CBN rate typically reflects government-controlled pricing within the formal banking system, which often differs from market-driven rates in the parallel market.
Why Exchange Rates Vary
FX traders often caution that actual rates may differ depending on location, volume of transaction, and individual dealers. Prices can change multiple times within a single day due to:
Shifts in dollar supply and demand
Market speculation
Economic indicators such as inflation and interest rates
Government or CBN policy actions
As a result, buyers and sellers may encounter slightly higher or lower figures than those quoted above.
The petrol market recorded another change as the Dangote Refinery and a few other depot operators reduced their gantry price of Premium Motor Spirit to ₦840 per litre.
Naijapunchnews reports that new rate moved down from the previous ₦843, following a fall in the price of Brent crude, which averaged $62 per barrel over the weekend.
The drop in crude cost pushed refiners and other players in the downstream market to adjust their prices.
Market checks showed that the Dangote Refinery, AIPEC and NIPCO all moved their depot price to ₦840 per litre.
Other depots reviewed their rates differently, with Rainoil at ₦844, Sigmund at ₦858, Master Energy at ₦858 and Northwest at ₦850 per litre.
Operators linked the price change to the dip in global crude, which affects refining and distribution costs.
The date of the OPEC+ virtual meeting was November 30, 2025.
On the global front, eight OPEC+ countries, including Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria and Oman, held a virtual meeting to look into the global oil market and its direction.
They stood by the decision taken earlier on November 2, 2025, to keep production levels unchanged for January, February and March 2026 because of expected seasonal shifts.
The group also restated that the 1.65 million barrels per day held back from the market could return step by step, depending on how conditions play out.
They maintained that they still have full room to pause or reverse voluntary production changes, including the 2.2 million barrels per day cut first announced in 2023.
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