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Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 30th April 2025
What is the current Dollar to Naira exchange rate at the black market, also known as the parallel market (Aboki fx)?....KINDLY READ THE FULL STORY HERE▶
Below is the black market exchange rate for Tuesday, April 29, 2025. These are the rates at which you can exchange your dollars for naira.
Black Market (Aboki fx) Dollar to Naira Rate Today:
At the Lagos Parallel Market, also known as the black market, the dollar was bought at ₦1600 and sold at ₦1609, according to information from Bureau De Change (BDC) sources.
⚠️ Note: The Central Bank of Nigeria (CBN) does not recognize transactions conducted in the parallel market and advises individuals seeking foreign exchange to use official banking channels.
| Market | Buying Rate | Selling Rate |
|---|---|---|
| Black Market (Aboki fx) | ₦1600 | ₦1609 |
| CBN Official Rate | ₦1596 – ₦1603 (range) |
Please be aware that exchange rates can vary depending on location, demand, and the trader involved.
In Other News: Rice Prices Drop in Nigeria Amid Surge in Imports
The price of a 50kg bag of rice in Nigeria has declined to as low as ₦58,000 in some areas, particularly near border regions. This drop is attributed to a surge in rice imports through the Republic of Benin, following India’s removal of export duties on parboiled rice.
A report by S&P Global reveals that West African markets are now flooded with cheaper Indian parboiled rice, pushing prices to their lowest levels in nearly two years. Warehouses in Benin are reportedly packed with rice stocks.
Between September and December 2024, India exported approximately 2.11 million metric tonnes of parboiled rice to West Africa, up from 720,000 metric tonnes in the same period of 2023. Total exports from India to the region jumped to 5.35 million metric tonnes in 2024, compared to 3.9 million metric tonnes in 2023, according to the Agricultural and Processed Food Products Export Development Authority.
As a result, local rice prices in Nigeria have dropped from ₦80,000–₦90,000 per 50kg bag to around ₦60,000, while Indian-imported rice now sells for approximately ₦80,000 per bag.
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