Economy
Dangote Refinery Credits President Tinubu’s Naira-for-Crude Deal for Lower, Stable Petrol Prices
Dangote Petroleum Refinery has announced that its naira-for-crude arrangement has helped lower petrol prices, resulting in cheaper fuel at the pumps. Despite ongoing global fluctuations in crude oil prices, the company reassured Nigerians that petrol prices will remain affordable and stable.
In a statement released Monday by Group Chief Branding and Communications Officer Anthony Chiejina, Dangote emphasized its firm commitment to supporting the Nigerian economy by maintaining stable fuel prices to ease the burden on consumers.
“We are deeply grateful to President Bola Tinubu for the impactful naira-for-crude initiative, which has enabled us to consistently reduce petroleum product prices for the benefit of Nigerians,” the company stated.
Dangote’s decision to uphold price stability, despite volatile crude prices, highlights its dedication to delivering affordable, high-quality petroleum products without sacrificing operational efficiency or sustainability.
The company’s approach aligns with the Federal Government’s ‘Nigeria First Policy,’ promoting local production and services. By refining petroleum domestically at the world’s largest single-train refinery, Dangote contributes significantly to Nigeria’s energy security, foreign exchange savings, and overall economic resilience—supporting President Tinubu’s Renewed Hope Agenda aimed at tackling economic challenges and improving citizens’ well-being.
Dangote Petroleum Refinery assures consumers, partners, and the government of its ongoing commitment to excellence and national service. The company vows to ensure Nigerians fully benefit from its local refining capacity by prioritizing affordability, quality, and the nation’s interest in every operation.
Dollar To Naira Exchange Rate Today 27 January 2023(Black Market)
The Black Market Dollar to Naira Exchange Rate for 16th January 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, 16th January 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1500 and buy at ₦1485 on Friday 16th January, 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 ₦1500
Buying Rate ₦1485
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1422
Lowest Rate ₦1418
The Black Market Dollar to Naira Exchange Rate for 13th January 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand.
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, 13th January 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1485 and buy at ₦1479 on Tuesday 13th January, 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 ₦1485
Buying Rate ₦1479
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1430
Lowest Rate ₦1420
The Nigerian Naira began the second week of January 2026 with continued fluctuations as market participants adjusted to early-year liquidity shifts in both the official and informal currency markets.
Official Market Performance
In the Nigerian Foreign Exchange Market (NFEM), the local currency maintained a relatively stable position against the greenback. Trading data from the early hours of Monday indicates that the Naira opened at approximately 1,426.69 per dollar. As the session progressed, the rate saw minor appreciation, settling around 1,423.82 per dollar by midday.
This movement reflects a 0.20 percent gain for the Naira, following efforts by the Central Bank of Nigeria (CBN) to maintain transparency in price discovery and ensure a steady supply of foreign exchange to meet legitimate obligations. Market turnover remains a key indicator for observers, as the volume of dollars traded today will signal the level of corporate demand for the month of January.
Parallel Market Realities
In the parallel market, commonly referred to as the black market, the Naira traded at a slight premium compared to the official window. Reports from currency dealers in Lagos and Abuja show that the dollar is being exchanged at rates ranging between 1,475 and 1,490.
The gap between the official and parallel markets remains a point of interest for economic analysts. While the NFEM provides a benchmark for large-scale transactions, the parallel market continues to serve small-scale retail needs and individuals who may not have immediate access to official banking channels.
Market Outlook
The current stability observed today is attributed to a combination of factors, including steadying oil revenues and the central bank’s ongoing monetary tightening measures. However, pressure remains as importers begin to place orders for the first quarter of the year, potentially testing the resilience of the current exchange rate levels.
Observers are closely watching for further policy updates from the financial regulators, which could influence the direction of the currency as the business year gains full momentum.
SAD! Bandits kill two, injure many in Katsina community despite peace deal
ADC not venue for Atiku’s presidential ambition – Bolaji Abdullahi
Court to deliver judgment in suit challenging Tinubu’s emergency rule declaration
Edo Killings: Jibrin Shares Details of His Discussion with Okpebholo
Jail break: One of Seven Escaped Ilesha Inmates re-arrested in Lagos
Police neutralise bandit, rescue 5 kidnapped victims in Katsina
-
News23 hours agoINTERVIEW: Obio/Akpor LG Chairman, Worlu gives genesis to revelation of Fubara’s governance
-
News23 hours agoDon’t negotiate with bandits -Defence Minister cautions govs
-
News23 hours agoAFCON : Chelle promises Nigerians third place victory against Egypt
-
News23 hours agoAny attempt to create rift between Okpebholo and I will fail, says deputy gov Idahosa
-
News23 hours agoSupreme Court dumps Sule Lamido’s son Aminu’s appeal on undeclared $40,000 cash
-
News23 hours agoShettima jets out to Guinea-Conakry for President Doumbouys’s inauguration
-
News22 hours ago
What we’ve in Rivers is coalition of Renewed Hope family -Dr Worlu declares
-
News8 hours agoIMPEACHMENT: Rivers Assembly confirms CJ’s receipt of notice
You must be logged in to post a comment Login