Black Market Dollar To Naira Exchange Rate Today 24th July 2022

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 23rd July, below. You can swap your dollar to Naira at these rates.

How much is dollar to naira today in black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N600 and sell at N625 on Saturday, 23rd July, 2022, 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 Black Market Rate Today

Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today

Buying Rate

Selling Rate

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices varies.

Amid Rising Debt, Subsidy Cost Jumps By 370%

The Nigerian National Petroleum Corporation (NNPC) in 2021 said fuel subsidy gulped N1.43tn, although there was no record for under-recovery in January.

According to Punch, the cost of fuel subsidy is estimated to increase by 369.93 per cent from 2021 to 2023.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, on Thursday at the presentation of the 2023-2035 Medium Term Expenditure Framework & Fiscal Strategy Paper in Abuja said that the Federal Government had projected to spend N6.72tn on petrol subsidy payments in 2023.

Ahmed, however, said subsidy payment projection was based on two scenarios, with the first being spending an estimated N6.72tn for the entire year and the second, removing subsidy by June 2023 with the government spending N3.36tn rather than the full estimated N6.72tn.

She further noted that both scenarios had implications for net accretion to the federation account and projected deficit levels.

This article was originally published on Naija News

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