What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)? See the black market Dollar to Naira exchange rate for 11th May, below. You can swap your dollar for Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N740 and sell at N745 on Thursday 11th May 2023, 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 (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N740 |
| Selling Rate | N745 |
The Budget Office of the Federation has cried out about the debt burdens of the country saying we “limited borrowing space.”
Naija News understands that the Director-General of the Budget Office, Ben Akabueze, has disclosed that “trouble” looms for the country if it exceeds it’s borrowing limits because already the country has a poor debt-to-revenue ratio.
According to him, from all indications, Nigeria can not even be classified as an oil rich country because the economy is not rich.
Akabueze made this disclosure while addressing members-elect of the 10th National Assembly at their week-long induction ceremony in Abuja on Wednesday.
The Budget Office boss added that while Nigeria has a population of over 200 million, “we are currently pumping about 1.9million barrels per day.”
He submitted that while Nigeria remains healthy with its debt-to-GDP ratio, the country is not with its debt-to-revenue ratio.
Akabueze, was speaking to the newly elected and returning members of the National Assembly, which is responsible for the consideration, amendment and passage of annual budgets of the Federal Government as well as economic bills like the Finance Bill.
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