Black Market Dollar to Naira exchange rate today 1st July 2022

Black Market Dollar to Naira exchange rate today 1st July 2022

Via Naija News:

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 30th, 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 N612 on Thursday, 30th, 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 612

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

Nigeria Lost N500.6bn Worth Of Crude Oil In Five Months – Investigation

The Nigerian government has lost about N500.6bn from the sale of crude oil between January and May this year.

It was gathered on Wednesday that the crash in revenue was due to the slump in the country’s oil production, as it tumbled by 11.63 million barrels during the review period.

Data obtained from different reports of the Organisation of Petroleum Exporting Countries (OPEC) showed that the country produced 1.399 million barrels of crude oil daily in January, translating to 43.369 million barrels in the entire month.

This, however, nose-dived to 1.024 million barrels per day in May, according to crude oil production figures based on direct communication as contained in OPEC reports, indicating a total production of 31.744 million barrels in May 2022.

The difference between January and May figures implies that Nigeria’s oil production crashed by 11.63 million barrels within the five-month period.

On the monetary value of the lost oil volumes, data from Statistica, a globally renowned statistical firm, showed that Nigeria had been losing billions of naira monthly due to the persistent plunge in its oil production.

According to The Punch, figures obtained from Statistica showed that in January, February, March, April and May 2022, the average prices of Brent, the global benchmark for crude, were $86.51/barrel, $97.13/barrel, $117.25/barrel, $104.58/barrel and $113.34/barrel respectively.

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