The dollar to naira exchange rate at the black market, also known as the parallel market, stands at N1570 for selling and N1560 for buying, according to sources at Bureau De Change (BDC) on Tuesday, July 22, 2024.
The exchange rate at the black market, also known as the parallel market, is different from the official rate set by the Central Bank of Nigeria (CBN), which stands at N1534 for selling and N1533 for buying.
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In other news, local refinery operators have expressed dissatisfaction with the Federal Government’s decision to continue importing fuel, citing concerns about the quality of locally produced diesel.
Eche Idoko, Publicity Secretary of the Crude Oil Refiners Association of Nigeria, said, “We are worried that the Chief Executive of NMDPRA would make such categorical statements, suggesting strongly that he is taking sides.This has huge implications for the oil and gas industry, and energy security in Nigeria.”