Current Black Market (USD to NGN) Exchange Rate**

**Current Black Market (USD to NGN) Exchange Rate**

What is the current exchange rate for the US Dollar to Naira in the black market, also known as the parallel market (Aboki FX)? 

Below, you'll find the exchange rate for the Dollar to Naira on August 14th. You can exchange your dollars for Naira at these rates.

**What is today's black market exchange rate for the Dollar to Naira?**

On Wednesday, August 14th, 2024, the exchange rate for a dollar to naira at the Lagos Parallel Market (Black Market) is reported by Bureau De Change (BDC) sources. The buying rate is N1595, and the selling rate is N1600.

Please note, the Central Bank of Nigeria (CBN) does not recognize the parallel market and advises those needing foreign exchange to approach their banks directly.

**Today's Dollar to Naira Black Market Rate**

- **Buying Rate:** N1595

- **Selling Rate:** N1600

**Today's Dollar to Naira CBN Rate**

- **Buying Rate:** N1579

- **Selling Rate:** N1580

Please keep in mind that the exchange rates at which you buy or sell foreign currency may differ from those listed here, as prices fluctuate.

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**Petroleum Industry Update**

Billy Gillis-Harry, the national president of the Petroleum Products Retail Outlets Owners Association of Nigeria, recently shared insights following his visit to the Port Harcourt Refinery. During his tour of the refinery, which has the capacity to produce 250 barrels of oil daily, he observed that the facility is poised to commence large-scale production of petroleum products.

Gillis-Harry expressed optimism that commercial production at the Port Harcourt Refinery will soon begin. In a statement to the Daily Post, he highlighted that the operational start of both the Port Harcourt and Dangote refineries is critical for resolving Nigeria's fuel shortages.

He stated, "The Port Harcourt Refinery is preparing to begin producing petroleum in significant quantities. We hope that this will be realized in the coming days or weeks. I visited the refinery myself and saw the efforts being made to ensure its functionality."

In agreement, oil and gas expert Zakka Bala emphasized that Nigeria's energy security is tied to the revitalization of its Port Harcourt, Warri, and Kaduna refineries. He noted that while the Dangote Refinery operates with profit in mind, the government-owned refineries aim to meet the needs of the Nigerian population.

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