This is the news about the Pounds to Naira rate at the official and black market exchange rate Today May 25th 2022.
Read Naija News update on the official pounds rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.
Daily Pound to Naira, GBP to NGN, Black Market (Lagos) exchange rates, percentage changes, historical rate charts and currency converter.
How Much is Pounds To Naira Exchange Rate Today Official Rate?
The official rate today, Wednesday, 25th May, 2022, for £1 pound to naira = ₦519.1411/£1.
According to the data from the CBN, exchange rate between the naira and the British pounds opened at ₦519.1411/£1 on Wednesday May 25th, after it sold at ₦522.2134 to a £1 on Tuesday, 24th May 2022.
Naija News reports that a pound is bought at the official market at ₦518.5159 and sold for ₦519.7663.
How much is exchange rate of Pounds to Naira in Black Market today?
The exchange rate for a pound to naira at Lagos Parallel Market (Black Market) – Pounds exchaged for as low as ₦740 and as high as ₦747 on Wednesday, May 25th 2022, according to sources at Bureau De Change (BDC).
President Muhammadu Buhari-led government on Monday stated that it is targeting local refining of over 2.555 billion barrels of crude oil worth over N120trn in the next five years.
The development was disclosed by the Executive Secretary of the Nigerian Content Development Monitoring Board, Simbi Wabote, during an interview with Punch.
Wabote spoke on the sidelines of the ongoing Nigerian Content Midstream-Downstream Oil and Gas Summit 2022, organised by the board in Lagos.
According to Wabote, a combined refining capacity of more than 1.4million barrels per day is expected from the rehabilitation of the existing four national refineries, co-location of new refineries, construction of greenfield refineries, and construction of modular refineries as part the Ministry of Petroleum Resources’refining roadmap in the next five years.
This article was originally published on Nigeria News