Politics
Black Market Dollar To Naira Exchange Rate Update For September 20, 2024
Black Market Dollar To Naira Exchange Rate Update For September 20, 2024....KINDLY READ THE FULL STORY HERE▶
As of September 19, 2024, the black market (or parallel market) exchange rate for the dollar to naira in Lagos is as follows: buyers can purchase a dollar for N1655, while sellers are offering it for N1665. This information comes from sources within the Bureau De Change (BDC)….CONTINUE READING
It’s important to note that the Central Bank of Nigeria (CBN) does not endorse the parallel market and recommends that individuals seeking to exchange foreign currency should go through their banks.
**Current Exchange Rates:**
– **Black Market Rates:**
– **Buying Rate:** N1655
– **Selling Rate:** N1665
– **CBN Rates:**
– **Buying Rate:** N1593
– **Selling Rate:** N1594
Please be aware that actual rates for buying or selling foreign currency may vary from those listed here.
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**NNPC Ltd/TotalEnergies’ $550 Million Ubeta Upstream Gas Project**
The $550 million upstream gas project between the Nigeria National Petroleum Company Limited (NNPC) and TotalEnergies has officially commenced, as announced by the Presidency. Olu Verheijen, Special Adviser to the President on Energy, made this announcement during the inaugural US-Nigeria Strategic Energy Dialogue held in Washington, DC.
The project, which aims to develop the Ubeta field discovered in 1964 and located northwest of Port Harcourt, Rivers State, received its Final Investment Decision (FID) in June. Once operational, it is expected to deliver 350 million standard cubic feet of gas per day.
Verheijen highlighted that significant energy reforms initiated by President Bola Tinubu since June 2023 are focused on enhancing energy security, attracting investment, and strengthening collaborations with key partners like the US government. Key reforms include improving cash flows in electricity distribution through smart metering, settling outstanding debts owed to investors, and reducing carbon emissions from gas production. Five new executive orders have been issued to support these efforts, aiming to provide fiscal incentives for investment and streamline the development and expansion of gas infrastructure.
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