Black Market Dollar To Naira Exchange Rate Today 6th 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 5th 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 N590 and sell at N617 on Tuesday, 5th 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
590

Selling Rate
617

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

Oil Marketers Give Reason Why Fuel Can’t Be Sold At N165/litre

Nigerian oil marketers have argued that Premium Motor Spirit popularly called petrol cannot be sold at N165/litre any longer.

The marketers in response to the Federal Government’s directive that petrol should be sold at the regulated pump price said challenges including product sharing, rise in penalties, difficulty in getting tax clearance, and high cost of doing business across the country, among others would not make the directive acceptable.

The cost of the commodity according to them must be sold at the approved ex-depot price at various depots, whether private or government-owned so as to enable filling stations to dispense the product at the regulated N165/litre rate.

They also noted that marketers buy the commodity at higher rates from private depots than what was approved by the Federal Government despite the many challenges in the downstream oil sector.

Naija News understands that the marketers highlighted their problems to the Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja, a development that made the agency ask the marketers to report depots that were selling PMS above the approved price.

The approved ex-depot price of petrol is about N148/litre, but retailers say private depot owners sell the commodity above N160/litre.

In a statement issued on Sunday, the General Manager, Corporate Communications Department, NMDPRA, Kimchi Apollo, said that executives of the South-West Independent Petroleum Marketers Association of Nigeria paid a courtesy visit to the authority where they made their demands known.

In the statement, the Zonal Chairman, IPMAN South-West, Dele Lamidi, said the purpose of the visit was to seek collaboration and support the authority in line with the Petroleum Industry Act 2021.

He stated that despite all the challenges being faced by the association, it had not resolved not to embark on any industrial action as a conflict resolution technique.

This article was originally published on Naija News