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SEE Black Market Dollar To Naira Exchange Rate Today 21 January 2025

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Black Market Dollar To Naira Exchange Rate Today 21 January 2025 Can Be Accessed Below.

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.

As of now, you can purchase 1 dollar at a certain rate now, however, it’s important to remember that the rate can shift (either upwards or downwards) within hours.
What’s the dollar to naira black market today 14 January 2025?
The local currency (abokiFx) opened at ₦1,660.00 per $1 at the parallel market otherwise known as the black market, today, Tuesday, 21 January 2025, in Lagos Nigeria, after it closed at ₦1,655.00 per $1 on Monday, 20 January 2025.

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Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate of $1 ₦1,655
Selling Rate of $1 ₦1,660
Please note that Nigeria’s black market dollar-to-naira exchange rate is typically higher than the official exchange rate because the Federal Government does not regulate it. The rates you buy or sell forex may differ from what is captured in this article because prices vary.

What’s the dollar-to-naira CBN exchange rate today?
Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate of $1 ₦1,551
Selling Rate of $1 ₦1,552
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.

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Economy

US oil imports from Nigeria to drop as Trump plans energy emergency order

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The President Trump planned an executive order and declaration of a national energy emergency, targeted at enhancing the United States oil and gas production could impact on Nigeria’s oil demand and revenue generation.

This was even as prices of oil, including Nigeria’s Bonny Light dropped to $80 per barrel from $83 per barrel, yesterday, as traders await U.S. President-elect Donald Trump’s inauguration in the hope of some clarity on his policy agenda.

However, the United States used to import a bulk of its crude oil from Nigeria, but the commencement of shale oil, deliberate government policy and other factors, reduced the nation’s oil and gas import in recent times.

Despite the reduction, recent data indicated that the United States oil and gas import from Nigeria was worth $4.73 billion in 2023.

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According some experts, the revenue would likely decrease in 2025 and beyond following President Trump executive order and declaration of a national energy emergency.

In an interview with Vanguard, yesterday, an economist and Chief Executive Officer, Centre for the Promotion of Private Enterprise, CPPE, Dr Muda Yusuf, said: “Naturally, if investments in oil and gas increase in the United States and the US of course is a major oil producer that will increase the global supply. If global supply increases, energy prices are likely to fall.

“So, if energy prices fall, of course, that has implications for our own revenue. So it’s likely to negatively impact on our oil price, on our oil revenue but it may be positive for businesses because a reduction in crude oil price or commodity or global oil price typically reduces the cost of petroleum products, including the Premium Motor Spirit, PMS, also known as petrol, diesel and jet fuel.

“However, it’s a double-edged sword as changes, if the price increases; it will favour the government and penalize the private sector, who uses energy. If the price drops, it penalizes the government and benefits the citizens and investors because their energy costs will drop.

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“That is one implication of the Trump presidency. The second implication is, if he’s able to calm down the situation between Russia and Ukraine. Russia is a major oil producer as well, a major gas producer.

“So, he’s able to calm down Russia and Ukraine and he has the potential to do that because it is part of the commitment that he has made.

“If he’s able to do that, then we are likely to see more production of oil. We are likely to see the lifting of sanctions on Russia and if that happens, oil production will increase and prices will fall. Again, that will affect revenue negatively, but it will benefit businesses because cost of energy will drop.

“So, that is the nexus for me between what is happening with Trump policies and our domestic economy, especially the oil and gas sector.”

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On his part, a Port Harcourt-based energy analyst, Dr. Bala Zakka, said: “Major importers from Nigeria, indirectly encourage our nation to be lazy, exporting crude oil instead of processing to add more value to the economy.

“I strongly believe that by reducing importation through his policies, President Trump would encourage increased refining in Nigeria and other African nations. We need to expand our refining capacity to refine more petroleum product and derivatives, capable of adding value to the domestic economy.”

Also, the National President of Oil and Gas Service Providers Association of Nigeria, OGSPAN, said: “Every nation continuously reviews its environment and takes decisions on the best ways and means to grow its economy. Nigeria should do the same in order to reduce dependence on oil and other economies.”

Meanwhile, the Petroleum Products Retail outlets Owners Association of Nigeria, PETROAN, has assured consumers that the coming on stream of the Dangote Refinery and the NNPC Limited owned Port Harcourt refinery would ensure easy flow of petrol during the Yuletide season.

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PETROAN in a statement by its National Public Relations Officer, Dr Joseph Obele said the petrol supply agreement reached with the 650,000 barrels per day Dangote Refinery would avert any possible shortage of premium motor spirit during the period.

This, according to Dr Obele, is due to the efforts of PETROAN distribution technical committee incharge of planning and execution of zero-fuel scarcity strategy.

“We are happy that Nigerians are going to travel effortlessly during this period of the year”, the Group added.

Recall that the National President of PETROAN, Dr Billy Gillis-Harry, on Monday 2nd December 2024 led the negotiation team of the association to a fruitful strategic business meeting with the management of Dangote Refinery in Lagos.

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PETROAN noted that the “sealing of a transactionary deal with Dangote Refinery was the aftermath of a successful buyer-seller negotiation and agreement secured by PETROAN at the strategic meeting.

“PETROAN National President commended the Vice President of Dangote group & Managing Director of Dangote Refinery, Mr. Devakumar V. G. Edwin, for his cooperation and strategies deployed so far to make petroleum products available to all Nigerians throughout the end of year festivities and beyond.”

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Economy

Bitcoin hits all-time high driven by Trumpmania

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Bitcoin the world’s largest cryptocurrency hits an all-time high of 109,241 dollars on Jan. 20 as Donald Trump prepares to take over the white house as president of the United States.

Ahead of the crypto-friendly president’s inauguration and the launch of $TRUMP and $MELANIA issued by Trump and his wife, Melania Trump, Bitcoin surged 5.5 per cent to set a new record according to the report from Bloomberg

The surge came after Trump and Melanin introduced meme coins over the weekend with $TRUMP briefly reaching a market capitalization of more than 15 billion dollars before falling sharply.

The meme coin has disrupted the digital asset market reducing influence into bitcoin and smaller tokens and drawing criticism from industry experts.

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Bitcoin, Ethereum (the second largest crypt currency), and XRP or surged Monday morning in London as traders counted down the hours before Trump official returned to the white house.

Bloomberg News reported that he was considering an exclusive order that will deem crypto assets in ‘’National priority’’.

Ben El-baz, CEO of Hashkey Global said that the launch of meme coins by Trump and his team has further fuelled Bitcoin’s rally, as retail traders expect the republican president to prioritize and reaffirm his commitments to the crypto industry.

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Economy

SEE Exchange Rates Black Market Dollar To Naira Exchange Rate In Lagos, FCT, 20 January 2025

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Bureau De Change (BDC) sources in Gwarimpa and Gwagwalada in FCT buy a dollar for N1685 and sell it for N1700 on Monday, January 20, 2024.

Black Market Dollar To Naira Exchange Rate in Lagos and FCT today, 20 January 2025.

The official naira black market exchange rate in Lagos and FCT, Abuja today including the Black Market rates, Bureau De Change (BDC), and CBN rates.

According to Bureau De Change (BDC) sources in the Ogba and Ikeja axis of Lagos state, the exchange rate for a dollar to naira at the Parallel Market (Black Market) is N1700 on Monday, January 20, 2024, players bought a dollar for N1685 and sold it for N1700.

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Bureau De Change (BDC) sources in Gwarimpa and Gwagwalada in FCT buy a dollar for N1685 and sell it for N1700 on Monday, January 20, 2024.

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 Lagos
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N1685
Selling Rate N1700
Dollar to Naira Black Market Rate FCT, Abuja
Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate N1685
Selling Rate N1700
Please note that the rates you buy or sell forex may differ from what is captured in this article because prices vary from state to state across Nigeria.

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