The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1002 and sell at N1008 on Monday, 9th October 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 | N1002 |
| Selling Rate | N1008 |
A report by a Federal Government agency, the Nigerian Electricity Regulatory Commission (NERC), has confirmed that Nigeria’s available electricity generation capacity has dropped by 2,324.
The report claimed that the electricity generation capacity dropped due to, among other things, diminishing plant/unit capabilities and poor maintenance brought on by liquidity concerns.
The amount of electricity available declined by more than 2,300MW between 2015 and 2022, despite a minor rise in the country’s existing electricity generation capacity.
Since 2015, when the electricity generation companies were transferred to private investors, the installation and generating capacity of the power plants connected to the grid have increased, the NERC report claimed.
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