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Black Market Dollar to Naira Exchange Rate Today, Monday, August 11, 2025

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By Merciful Omoba

 

The dollar-to-naira exchange rate in the black market remains a critical focus for currency traders, importers, and travelers as demand for the U.S. dollar continues to outpace supply in Nigeria.

 

On Monday, August 11, 2025, the naira came under slight pressure against the greenback in the parallel market, with traders adjusting their rates to reflect ongoing market dynamics.

 

As of the latest checks, the black market rate stood at ₦1,560 per dollar for buying and ₦1,570 per dollar for selling.

 

These figures, drawn from major currency dealers in Lagos, Abuja, and other trading hubs, highlight the persistent gap between the parallel market and the official exchange rate, underscoring liquidity challenges in the country’s forex system.

 

The official exchange rate published by the Central Bank of Nigeria (CBN), remains lower than black market prices, with the Investors and Exporters (I&E), window averaging between ₦1,535 and ₦1,545 per dollar.

 

Limited dollar supply in official channels has pushed more demand into the unregulated market, keeping rates elevated.

 

The black market rate plays a significant role in Nigeria’s economic activities because many individuals and businesses, particularly small and medium-sized enterprises, struggle to access foreign exchange through banks.

 

Nigeria’s reliance on imported goods and raw materials sustains high dollar demand, while diaspora remittances often get exchanged informally for better returns.

 

Speculation also fuels activity as traders hold dollars as a safeguard against further naira depreciation.

 

A weaker naira contributes to rising inflation by increasing the cost of imported goods and services.

 

Businesses in dollar-dependent industries face higher operational costs, which are typically passed on to consumers.

 

The CBN has reiterated its commitment to stabilizing the market through tighter monetary policies and strategies aimed at attracting foreign investment.

 

For Monday, August 11, 2025, the black market dollar-to-naira exchange rate remains ₦1,560 for buying and ₦1,570 for selling.

 

The naira’s performance in the coming weeks will largely hinge on foreign exchange inflows, policy changes, and global economic conditions.

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Alia Gets APC Nod for Second Term in Benue

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By Samson Adeyanju

The Governor of Benue State, Hyacinth Alia, has successfully passed the screening exercise of the All Progressives Congress (APC), ahead of the 2027 governorship election and has been officially certified to contest the party’s primaries.

This was contained in the statement issued by his Chief Press Secretary, Sir Tersoo Kula.

The screening exercise was conducted on Sunday at the Plateau State Governor’s Lodge, venue designated for the screening of incumbent governors seeking the party’s ticket for the forthcoming elections.

The screening committee was chaired by the National Chairman of the All Progressives Congress, Nentawe Goshwe, who led the process to assess aspirants seeking to fly the party’s flag in the 2027 gubernatorial elections.

Governor Alia’s Expression of Interest and Nomination forms were procured by the Benue State chapter of the Nigeria Union of Pensioners and the Benue State Motorcycle Association.

Leaders of the two groups attributed their support for the governor to what they described as the remarkable transformation witnessed in the state under his administration, as well as his people-oriented style of governance. They said the governor deserved another term to consolidate ongoing developmental efforts across the state.

Political observers and stakeholders have described the certification as a major boost to Governor Alia’s political standing within the APC, particularly amid ongoing consultations and strategic alignments ahead of the 2027 general elections.

Governor Alia, who was elected in 2023 on the platform of the APC, has consistently highlighted infrastructural development, security improvement, civil service reforms and social welfare programmes as key priorities of his administration.

His successful clearance by the screening committee is also expected to trigger increased political activities within the APC as preparations intensify for the next electoral cycle.

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CSN Calls for Inclusive, Just Energy Transition in Nigeria

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By Tony Abah

The Secretary General of the Catholic Secretariat of Nigeria, Rev. Fr. Michael ‘Leke Banjo, has called for a people-centred and morally guided energy transition in Nigeria, warning that development must not continue to benefit a privileged few while leaving vulnerable communities behind.

Speaking at the GreenFaith Nigeria Multifaith and Multisectoral Forum on Nigeria’s Just Energy Transition Plan held on May 7, Fr. Banjo said energy should not be seen merely as an economic issue but as a matter tied to “life, health, education, work, food security, industrial growth, national stability and human dignity.”

Addressing participants at the forum themed, “Faith, Justice, and Power: Advancing an Inclusive Just Energy Transition in Nigeria,” the Catholic priest welcomed members of GreenFaith Africa and other stakeholders, describing the gathering as a shared effort to defend creation and promote justice.

“We gather today not merely as advocates, policy actors or religious leaders, but as stewards,” he said. “We gather to ask a deeper question: what kind of future do we want to leave behind, and who will be allowed to share in it?”

Fr. Banjo stressed that true development should not be measured only by “megawatts, investment figures or economic indicators,” but also by how society treats “those on the margins of energy poverty” and communities already suffering the effects of climate change.

Drawing from Scripture and the 2015 encyclical Laudato Si’, he described creation as “God’s gift entrusted to our responsible care,” insisting that environmental stewardship must go hand in hand with development and innovation.

The cleric lamented the environmental degradation affecting different parts of Nigeria, citing oil pollution and gas flaring in the Niger Delta, desertification in the North, gully erosion in the South-East, and flooding in parts of Kogi State and Benue State.

“In our cities, plastic waste and poor sanitation have turned public spaces into sources of disease and avoidable hardship,” he said. “When we fail to keep the earth, the earth becomes wounded; and when the earth is wounded, human dignity is also wounded.”

Fr. Banjo called on governments at all levels to develop “clear, consistent and just policies” that would protect affected communities, expand access to affordable clean energy, support small businesses and create decent jobs.

He also urged investors and development partners to ensure that renewable energy investments are guided by conscience and accountability.

“The new energy economy must not reproduce old injustices in cleaner language,” he warned, adding that policies should encourage local capacity, community ownership, skill development and transparency.

Beyond government and institutions, Fr. Banjo challenged ordinary citizens to embrace environmentally responsible habits, including proper waste disposal, water conservation, tree planting and keeping public spaces clean.

“We must stop throwing refuse into gutters, streams and open spaces,” he said. “In these simple daily choices, we show whether we truly understand that creation is God’s gift and our common home.”

He commended GreenFaith Nigeria, GreenFaith Africa and The Kukah Centre for promoting climate justice and interfaith collaboration, assuring them of the continued support of the Catholic Secretariat of Nigeria.

“The Catholic Secretariat of Nigeria stands ready to walk with you in this effort to protect creation, uplift the poor, and advance a truly just energy transition for our nation,” he said.

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Alia, Akume, Suswam Meet as Benue APC Moves to Rebuild Unity

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By Samson Adeyanju

Governor Hyacinth Alia has commended stakeholders of the All Progressives Congress in Benue State for their commitment to reconciliation and party unity following a high level meeting held at the New Banquet Hall of Government House, Makurdi.

In a statement issued on Monday by his Chief Press Secretary, Sir Tersoo Kula, the governor expressed appreciation to party leaders and stakeholders who attended the reconciliation meeting convened to strengthen cohesion within the party.

Among those present at the meeting were the Secretary to the Government of the Federation, George Akume, former Benue State Governor, Gabriel Suswam, former Deputy Governor Chief Stephen Lawani, past and serving members of the National Assembly, members of the Benue State House of Assembly, federal government appointees, and other party stakeholders.

Governor Alia said the large turnout of influential party figures reflected a shared resolve to promote unity, stability, and progress within the APC in Benue State.

He particularly praised the peaceful atmosphere of the meeting and the spirit of reconciliation displayed by participants, describing the outcome as a significant step toward rebuilding trust, confidence, and togetherness among party members.

According to the governor, the resolutions reached at the meeting would usher in a new phase of peace, harmony, and cooperation within the party.

He urged stakeholders and their supporters to sustain the reconciliation process through dialogue, mutual respect, and collective responsibility in advancing the interests of the APC and the development of Benue State.

Governor Alia also wished all stakeholders success in their political aspirations and called for continued collaboration in the pursuit of peace, development, and good governance in the state.

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