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 January, below. You can swap your dollar for Naira at these rates.
How much is a dollar to naira today in the 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 N1660 and sell at N1665 on Sunday 5th January 2025, 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 |
N1660 |
| Selling Rate |
N1665 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) |
CBN Rate Today |
| Highest Rate |
N1540 |
| Lowest Rate |
N1531 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
In other news, industry experts on Saturday, predicted a significant reduction in the price of Premium Motor Spirit (PMS), popularly known as petrol, in 2025, with prices potentially dropping below ₦500 per litre.
The current price of petrol ranges between ₦900 and ₦950 per litre across various fuel stations.
The anticipated price drop is attributed to a robust downstream sector driven by the Federal Government’s deregulation policy, stable foreign exchange rates, and increased domestic refining capacity.
Key Factors Driving Price Reduction
Increased Local Refining Capacity: The commencement of operations at the Port Harcourt and Warri refineries, alongside the Dangote Refinery, is expected to boost local production and reduce dependence on imports.
The Dangote Refinery currently injects seven million litres of petrol daily into the domestic market.
The Port Harcourt Refinery, which began operations over a month ago, produces 1.4 million litres of petrol daily.
The Warri Refinery, operating at 60% capacity, focuses on producing kerosene, diesel, and naphtha.
Deregulation of the Downstream Sector: The deregulation policy has introduced competition among producers, driving prices lower.
Industry experts, who spoke to Saturday Sun, noted that petrol, which currently sells for between ₦900 and ₦950 in many fuel stations, may have its price further crashing to as low as ₦500 a litre in the course of the year.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Ukadike Chinedu, in an interview with Saturday Sun, said the entry of multiple players is already fostering healthy price competition.
