Naira Trades Steady at ₦1,361 Amid Mixed Forex Market Signals

The Dollar to Naira exchange rate today showed relative stability on Monday, May 11, 2026, as the Nigerian naira continued to trade within a narrow range across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel (black) market, supported by ongoing interventions from the Central Bank of Nigeria (CBN).

In the official foreign exchange market (NFEM), the naira traded at an average rate of about ₦1,361 per US dollar, with intraday movements fluctuating between approximately ₦1,355 and ₦1,366 depending on demand and supply conditions. Market analysts say this slight movement reflects continued pressure from importers, corporate dollar demand, and seasonal foreign payments, even as the CBN maintains liquidity interventions to stabilise the forex market.

In the parallel market, also known as the black market or Bureau De Change (BDC) segment, the dollar traded significantly higher than the official rate. Buying rates were recorded around ₦1,385 per dollar, while selling rates ranged between ₦1,395 and ₦1,405, depending on location and transaction volume. Traders in Lagos and Abuja attributed the higher rates to strong retail demand for dollars, especially for tuition payments, medical travel, and import-related transactions.

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Analysts note that the gap between the official and parallel market rates remains a key indicator of foreign exchange pressure in Nigeria, although the spread has shown slight signs of narrowing in recent weeks due to improved FX liquidity management and policy adjustments by the CBN.

Economic experts point to several factors influencing the Naira exchange rate today, including sustained CBN forex interventions, high import dependency, diaspora remittances, oil revenue inflows, and ongoing speculative activity in the black market. These forces continue to shape daily movements in both official and unofficial FX channels.

Financial observers also highlight the CBN’s “willing buyer, willing seller” FX policy framework as a key driver of improved transparency in the official market, although demand-side pressures continue to test the resilience of the naira.

Despite the current relative stability, analysts warn that the naira remains vulnerable to external shocks such as global oil price fluctuations and sudden spikes in dollar demand. They stress that long-term stability will depend on stronger export performance, increased foreign investment inflows, and improved domestic production capacity.

For now, the Nigeria forex market is described as stable but fragile, with traders closely monitoring policy signals and liquidity conditions that could influence future movements of the Dollar to Naira exchange rate.

Naira Trades Steady at ₦1,361 Amid Mixed Forex Market Signals

ABC Transport Unveils Archive Centre to Showcase Decades of Innovation, Excellence

In a remarkable celebration of legacy, innovation and corporate heritage, ABC Transport Plc officially unveiled its Historic and Archive Centre on Thursday, April 30, 2026, at the company’s corporate headquarters in Owerri, Imo State.

The unveiling, which coincided with the birthday celebration of the company’s founder, Frank Nneji, marked another significant milestone in the 33-year journey of one of Nigeria’s most innovative and diversified transport and logistics companies.

Founded on February 13, 1993, ABC Transport Plc has evolved from a visionary transport company into a nationally recognised brand known for pioneering modern transport solutions, operational excellence and customer-focused innovation across Nigeria and West Africa.

The newly commissioned Historic and Archive Centre was established to document, preserve and showcase the company’s rich history and transformational journey over the decades.

The facility houses an extensive collection of historical artefacts, awards, photographs, archival documents, video recordings and memorabilia from some of the company’s defining moments.

Among the notable exhibits are memorabilia from the commissioning of the first ABC coach, the launch of Nigeria’s first ultra-modern transport terminal, the expansion into regional operations through Coach West Africa, and several landmark achievements that helped redefine road transportation and logistics services in Nigeria.

Over the course of its 33-year history, ABC Transport Plc has recorded several groundbreaking milestones, including:

1993 – Launch of the company’s first Owerri-Lagos route

1996 – Introduction of ABC Cargo Express services

1998 – Launch of Sleeper Coach Services

1999 – Partnership with NIPOST for mail transportation services

2000 – Establishment of the Driver Training Academy and commencement of e-ticketing services

2001 – Commissioning of the first ultra-modern transport terminal in West Africa, located in Abuja

2003 – Celebration of the company’s 10th anniversary and commissioning of Terminal 3 in Amuwo Odofin, Lagos

2004 – Launch of Coach West Africa, pioneering regional transport routes across West Africa

2006 – Listing on the Nigerian Stock Exchange and collaboration with state governments on municipal transport projects

2007 – Launch of the Shuttle Service and opening of the Port Harcourt Mega Terminal

2008 – Establishment of ABC Haulage and commencement of Sprinter Services

2012 – Launch of the Undergraduate Scholarship Award Scheme

2014 – Rollout of the first trucks from the company’s assembly-line subsidiary

2023 – Corporate rebranding, incorporation of ABC Cargo Express, and celebration of the company’s 30th anniversary

2026 – Celebration of 33 years of operations and unveiling of the Historic and Archive Centre

Designed as both a heritage and educational facility, the centre provides a serene and intellectually engaging environment where students, researchers, transport enthusiasts, business leaders and members of the public can learn about the evolution of the transport industry through the lens of ABC Transport’s journey. The facility also reflects the company’s commitment to institutional memory, leadership, innovation and nation-building.

The event was intimate yet deeply symbolic, bringing together alumni staff, pioneer employees, current management and staff, strategic partners, family members and longtime associates of the organisation who played significant roles in its early development and sustained growth.

Guests at the occasion shared memories and reflections on the company’s humble beginnings, transformational milestones and enduring impact on Nigeria’s transportation sector. The celebration also featured a special birthday cake-cutting ceremony in honour of the founder, whose visionary leadership laid the foundation for the company’s success story.

Speaking during the unveiling ceremony, the Group Managing Director/CEO of ABC Transport Plc, Jude Nneji, described the Historic and Archive Centre as a strategic investment in preserving institutional heritage and inspiring future generations.

“This Historic and Archive Centre is more than a collection of memories; it is a living testament to resilience, innovation, vision and the pioneering spirit that built ABC Transport over the last 33 years.

“As we continue to evolve as a modern transport and logistics company, it is important that we preserve the stories, sacrifices, milestones and achievements that shaped our journey.

“We want young people, students, professionals and future entrepreneurs to walk into this centre and understand that great institutions are built through vision, consistency, courage and service. This centre ensures that the legacy of our founder and the collective efforts of everyone who contributed to this journey will continue to inspire generations to come,” he said.

The unveiling of the Historic and Archive Centre represents yet another bold step in ABC Transport Plc’s continued commitment to excellence, innovation and legacy preservation as the company positions itself for the future while honouring its storied past.

As ABC Transport celebrates 33 years of transformational impact, the company remains steadfast in its mission to deliver safe, reliable and innovative transport and logistics solutions while continuing to shape the future of mobility and logistics in Nigeria and beyond.

Jet A1 Crisis Threatens Flight Safety, Airline Jobs in Nigeria — NAAPE Warns

Nigeria’s aviation sector is facing renewed turbulence as the worsening Jet A1 fuel crisis sparks fresh fears over flight safety, airline sustainability, and possible job losses across the industry.

The National Association of Aircraft Pilots and Engineers (NAAPE) has warned that the persistent scarcity and soaring cost of aviation fuel in Nigeria are pushing airlines and aviation professionals to dangerous limits.

In a statement issued on Sunday, NAAPE President, Captain Bunmi Gindeh, said prolonged flight delays and operational disruptions caused by the shortage of Jet A1 fuel are forcing pilots and engineers to work far beyond their scheduled duty hours, exposing them to fatigue-related risks.

According to the association, fatigue remains one of the most serious threats to aviation safety globally because it affects concentration, reaction time, decision-making, and situational awareness during flight operations.

NAAPE stressed that compelling aviation professionals to operate under physically and mentally exhausting conditions could place passengers and crew members at significant risk.

“The persistent disruptions to flight schedules occasioned by the Jet A1 supply shortfall have resulted in significant extensions of crew duty time beyond planned parameters,” the association said.

“For our members, pilots and engineers alike, this translates directly into elevated fatigue levels, a condition universally recognised in aviation as a critical safety hazard.”

The association explained that the crisis extends beyond safety concerns, warning that domestic airlines are also battling severe financial pressure as operational costs continue to rise while revenues decline.

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According to NAAPE, grounded and delayed aircraft generate no income for airlines despite accumulating fixed operational expenses such as aircraft maintenance, insurance, airport charges, and staff salaries.

The body warned that the financial strain is already affecting workers through delayed salary payments, wage cuts, and worsening welfare conditions.

“A workforce operating under financial stress is a workforce distracted, and distraction in an aviation environment is a precursor to compromised safety,” the statement added.

The warning comes amid growing concerns within Nigeria’s aviation industry over the rapid increase in Jet A1 price in Nigeria, which airline operators say has become unsustainable.

Industry stakeholders recently disclosed that the price of aviation fuel surged from about ₦900 per litre earlier in the year to over ₦3,300 per litre within weeks, representing an increase of more than 300 percent.

The Airline Operators of Nigeria (AON) had earlier warned that domestic carriers could suspend operations nationwide if the fuel situation persists.

Although the planned shutdown was temporarily suspended following the intervention of the Minister of Aviation and Aerospace Development, Festus Keyamo, airline operators insist that the sector remains under severe pressure.

NAAPE also pointed to recent operational restructuring by some domestic airlines as evidence of the worsening crisis.

The association cited the decision of Rano Air to suspend some of its routes after the sharp rise in Jet A1 fuel price made certain operations commercially unsustainable.

According to the airline, the increasing cost of fuel and operational expenses forced it to temporarily scale down services on affected routes while providing rescheduling and refund options for passengers.

The aviation union warned that if urgent action is not taken, more airlines may reduce routes, suspend operations, or shut down entirely, leading to widespread job losses across the sector.

NAAPE further emphasised that aviation plays a strategic role in Nigeria’s economy by supporting trade, tourism, investment, and national connectivity.

The body warned that any prolonged disruption in the aviation sector could negatively affect economic growth and worsen transportation challenges in the country.

Meanwhile, the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) has also raised similar concerns over the instability in the supply and pricing of Jet A1 aviation fuel.

Speaking during the 2026 May Day celebration at the Lagos airport, ATSSSAN National President, Comrade John Ogbe, urged the Federal Government to urgently convene stakeholders and develop a sustainable framework for stabilising fuel supply and pricing.

“The sky must be kept safe, and Nigerians must continue to fly, especially in the face of insecurity on our roads,” Ogbe stated.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) recently moved to stabilise the market by introducing benchmark prices for Jet A1 fuel, but airline operators say supply instability and price volatility remain unresolved.

NAAPE has now called on the Federal Government, the Nigerian Civil Aviation Authority (NCAA), NMDPRA, fuel suppliers, and all aviation stakeholders to urgently address the crisis before it escalates further.

The association insisted that aviation safety must never be compromised, warning that swift intervention is necessary to protect passengers, workers, and the future of Nigeria’s aviation industry.

Jet A1 Crisis Threatens Flight Safety, Airline Jobs in Nigeria — NAAPE Warns