See the black market Dollar to Naira exchange rate for 16th September, 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 N1662 and sell at N1665 on Monday 16th September 2024, 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 | N1662 |
| Selling Rate | N1665 |
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1645 |
| Selling Rate | N1646 |
The Nigeria National Petroleum Company Limited (NNPCL) has announced that petrol prices will increase across the states.
The increase in price, Naija News reported, followed a statement from NNPCL stating that it bought petrol at a higher rate from Dangote Refinery on Sunday.
NNPCL’s statement also disclosed that contrary to the directive of the federal, Dangote Refinery sold its refined product on Sunday in US Dollars and not naira.
The statement, however, disclosed that Dangote Refinery will sell its October product in naira.
A breakdown of the chart from NNPCL showed Dangote Refinery sold petrol to NNPCL at ₦898.78 per liter. NNPCL paid Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fee of ₦8.99, inspection fee of ₦0.97, a distribution cost in Lagos of ₦15, margin ₦26.48.
NNPCL’s statement added that the estimated pump price in Lagos will be ₦950.22, Sokoto State ₦999.22; Kano State ₦999.22, Borno State ₦1,019.22, Kaduna ₦999.22, FCT ₦992.22, Oyo State ₦960.22, Lagos State ₦950.22, Rivers State ₦980.00, Imo State ₦980.22.
An analysis of the chart showed that except from Lagos State, other states of the federation will be paying higher because of distribution costs.
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