The Nigerian Naira depreciated further against the United States Dollar today as economic uncertainty continued to drag on the local currency.
The Dollar was sold at N1,730 today, November 13, 2024 while it was acquired for N1,740 at the parallel market, popularly known as the black market. See the details below.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) |
Black Market Exchange Rate Today |
| Selling Rate |
N1730 |
| Buying Rate |
N1740 |
Below is Central Bank of Nigeria (CBN)’s official exchange rate.
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) |
CBN Rate Today |
| selling Rate |
N1687 |
| buying Rate |
N1688 |
Meanwhile, the Nigerian National Petroleum Company Limited (NNPCL) on Tuesday announced it has put an end to the importation of petroleum products and will henceforth buy from local refineries.
This was disclosed by Mele Kyari, the Group Chief Executive Officer of NNPC during the Nigerian Association of Petroleum Explorationists’ conference in Lagos.
Mele Kyari also refuted rumours that NNPCL was undermining the Dangote refinery in whatever capacity.
Kyari further revealed that by early 2025, Nigeria will have 12 Compressed Natural Gas (CNG) mother stations and a mini Liquefied Natural Gas (LNG) plant to enhance local power supply and fuel accessibility.