The Dollar to Naira exchange rate on the black market remains under pressure as Nigeria’s economic uncertainty continues to hurt productivity and heightened systemic risk.
In the unregulated black market, traders are buying a Dollar at N1,740 and selling it at N1,750 for a profit of N10.
However, at the Central Bank of Nigeria (CBN) regulated foreign exchange segment, the United States Dollar was traded at N1,664 and acquired at N1,665. See other details below.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) |
Black Market Exchange Rate Today |
| Selling Rate |
N1740 |
| Buying Rate |
N1750 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) |
CBN Rate Today |
| Selling Rate |
N1664 |
| Buying Rate |
N1665 |
Meanwhile, the Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS), also known as petrol, from N990 per litre to N970.
This price adjustment is expected to have a significant impact on the petroleum market, encouraging domestic production and reducing Nigeria’s dependence on imported fuel.
Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Group, stated in a release on Sunday that the price cut is part of the refinery’s effort to appreciate Nigerians and support economic stability as the year draws to a close.
“As the year comes to an end, we see this as a gesture of gratitude to the people of Nigeria who have supported this journey. It also reflects our commitment to partnering with the government to foster economic growth and stability,” said Chiejina.
