Current Dollar to Naira Exchange Rate at the Black Market
Find the current black market dollar to naira exchange rate for October 15, 2024, below. You can swap your dollar for naira at these rates.
How Much is a Dollar Worth in Naira Today?
Dollar to Naira Exchange Rate Today in the Black Market
In the parallel market, Bureau De Change operators are buying a dollar at N1663 and selling at N1670, as of October 15, 2024, according to our sources. Please note that the Central Bank of Nigeria (CBN) does not recognize this market.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1663 |
| Selling Rate | N1670 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1602 |
| Selling Rate | N1603 |
Please note that rates for buying or selling forex may differ from what is listed here, as prices can vary.
As Nigerians continue to grapple with rising fuel prices, the cost of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has also surged. In Ogun and Lagos states, a kilogram of LPG now costs ₦1,500 at various retail outlets.
Suresh Kumar, the Managing Director and Chief Executive Officer of NIPCO Plc, expressed optimism that the commencement of operations at the Dangote refinery and other domestic refineries would help bring down the prices of cooking gas.
He highlighted that over 60% of the cooking gas consumed in Nigeria is imported, raising concerns about the country’s dependency on foreign supply.
Current market checks confirm that the price of cooking gas has reached ₦1,500 per kilogram, significantly impacting consumers who rely on LPG for their daily cooking needs.
In Abuja, the average price for refilling a 12.5-kg cylinder has skyrocketed by 41.6% to ₦17,000. Reports show that the same cylinder sold for ₦12,000 in July and ₦11,735 in January 2024.
The recent price hikes indicate a troubling trend in the market, suggesting that consumers are facing increasing financial pressure.
A recent survey conducted by The Punch revealed that the price of a kilogram of cooking gas in the Lokogoma area of Abuja has surged to ₦1,400, while in the Kubwa area, the price ranged between ₦16,200 and ₦16,500.
In contrast, some outskirts of Abuja, including Bwari, Kurudu, and Jikwoyi, still see the product sold for around ₦1,300, showcasing price discrepancies depending on location. Major distributors continue to sell the product at rates varying from ₦1,300 to ₦1,400.
