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See What Happens to Black Market Dollar (USD) against Naira (NGN) Exchange Rate for May 28, 2024

Published by Tope Fakinlede on May 28th, 2024.

See What Happens to Black Market Dollar (USD) against Naira (NGN) Exchange Rate for May 28, 2024

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

Here is the Dollar to Naira exchange rate for May 27, 2024. These rates reflect what you can expect if you are exchanging dollars for Naira in the black market.

Dollar to Naira Exchange Rate Today

As of Monday, May 27, 2024, the exchange rate at the Lagos Parallel Market (Black Market) shows that players are buying dollars at N1510 and selling them at N1520, based on information from Bureau De Change (BDC) sources.

It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has advised individuals seeking foreign exchange to use their respective banks. The exchange rates you encounter may differ from those stated here due to market fluctuations.

Price of 5kg Cooking Gas in April – NBS Report

The National Bureau of Statistics (NBS) has published its “Cooking Gas Price Watch” for April 2024, which indicates a slight decline in the price of 5kg cooking gas but a notable increase compared to last year.

The average price for 5kg of cooking gas fell from ₦6,591.62 in March 2024 to ₦6,521.58 in April 2024, representing a 1.06% decrease.

However, when compared to April 2023, where the price was ₦4,642.27, there was a significant year-on-year increase of 40.48%.

Bauchi recorded the highest average price for 5kg of cooking gas at ₦7,000.00, with Kano and Yobe following closely. The lowest prices were found in Adamawa, Enugu, and Katsina.

Regional analysis shows that the South-South zone had the highest average retail price at ₦6,767.27, while the South-East had the lowest at ₦6,602.50.