The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1070 and sell at N1080 on Wednesday, 18th 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 | N1070 |
| Selling Rate | N1080 |
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 882 |
| Selling Rate | 883 |
Strong indications have emerged that oil marketers in the country would soon end the Nigerian National Petroleum Company Limited (NNPCL)’s monopoly of importation of Premium Motor Spirit (PMS), popularly known as petrol.
Naija News understands that oil marketers have resolved to resume the importation of fuel to stop NNPCL’s monopoly of fuel.
It was gathered that oil marketers arrived at this decision after a meeting of the marketers, including the Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and Major Marketers Association of Nigeria (MOMAN), with top officials of the Nigerian Midstream and Downstream Petroleum Products Regulatory Agency, (NMDPRA) early this week.
This development comes after several fuel depots have run dried-off products due to a lack of forex to import petrol.
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