Today’s Black Market Dollar (USD) To Naira (NGN) Exchange Rate – March 4, 2025

Check out the latest black market (parallel market) exchange rate for the U.S. dollar to Nigerian naira on March 3, 2025. Below are the rates at which you can exchange your dollars for naira.....KINDLY READ THE FULL STORY HERE▶

Dollar to Naira Black Market Rate Today

In Lagos’ parallel market, Bureau De Change (BDC) sources report that traders buy a dollar for ₦1500 and sell at ₦1506 as of Monday, March 3, 2025.

CBN Official Dollar to Naira Rate Today

The Central Bank of Nigeria (CBN) does not recognize the black market and advises individuals to conduct forex transactions through official banking channels.

Note: Forex prices fluctuate, so the rates at which you buy or sell dollars may differ from those listed above.

Dangote Refinery Slashes PMS Price, Plans Refund for Buyers

In a related development, Dangote Petroleum Refinery has announced plans to compensate customers who purchased Premium Motor Spirit (PMS) at higher prices before its recent price cut.

The refinery reduced its gantry price from ₦890 per litre to ₦825 per litre in a bid to ease the burden on Nigerians and align with President Bola Tinubu’s Renewed Hope Agenda for economic recovery.

₦16bn Loss Absorbed for Consumer Relief

Dangote Refinery has pledged to refund ₦65 per litre for over 200,000 metric tonnes of PMS sold at the previous rate before the adjustment. The company will absorb a ₦16 billion loss to ensure consumers benefit from the price reduction.

Effective February 27, 2025, this initiative guarantees that all business partners will be refunded for any losses incurred due to the price revision, ensuring immediate nationwide implementation of the lower fuel price.

Warning Against Overpricing

The refinery has also cautioned fuel marketers against hoarding or selling at inflated rates, urging them to pass the price cut directly to consumers.