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Dollar to Naira Black Market & Official Rate Today Sept 7, 2025

GoldenNewsNG by GoldenNewsNG
September 7, 2025
in business, Headline, News
Reading Time: 4 mins read
Dollar to Naira Black Market & Official Rate Today
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The naira continued to struggle against the United States dollar on Sunday, September 7, 2025, with a wide gap between the official market and the parallel market rates.

At the official market, data from multiple sources showed the exchange rate hovering between ₦1,525 and ₦1,530 per dollar. Figures from the Central Bank and currency trackers such as XE, Wise, and Trading Economics placed the dollar around ₦1,528 on average.

In contrast, the black market (parallel market) offered slightly different figures. Checks across Lagos, Abuja, and other major cities showed that traders were buying the dollar at ₦1,500 and selling at ₦1,530. This means anyone selling $100 at the parallel market would receive about ₦153,000.

Breakdown of Exchange Rates – September 7, 2025

Market Type Buying Rate Selling Rate
Official Market — ₦1,525 – ₦1,530
Black Market ₦1,500 ₦1,530

Persistent Gap Between Official and Black Market Rates

The difference between the official and black market rates highlights the ongoing challenges in Nigeria’s foreign exchange market. While the government has tried to stabilize the naira through policy interventions, demand for dollars in the informal market remains strong, keeping the parallel rate under pressure.

Economic observers note that the naira’s performance has implications for businesses, importers, students paying tuition abroad, and households that rely on foreign remittances. The rising cost of dollars directly affects the price of goods and services in Nigeria, fueling inflationary pressures.

Dollar to Naira Conversion Table (Sept 7, 2025)

USD ($) Official Rate (NGN 1,528) Black Market Buying (NGN 1,500) Black Market Selling (NGN 1,530)
$100 NGN 152,800 NGN 150,000 NGN 153,000
$200 NGN 305,600 NGN 300,000 NGN 306,000
$300 NGN 458,400 NGN 450,000 NGN 459,000
$400 NGN 611,200 NGN 600,000 NGN 612,000
$500 NGN 764,000 NGN 750,000 NGN 765,000
$600 NGN 916,800 NGN 900,000 NGN 918,000
$700 NGN 1,069,600 NGN 1,050,000 NGN 1,071,000
$800 NGN 1,222,400 NGN 1,200,000 NGN 1,224,000
$900 NGN 1,375,200 NGN 1,350,000 NGN 1,377,000
$1,000 NGN 1,528,000 NGN 1,500,000 NGN 1,530,000

 

What This Means for Nigerians

For many Nigerians, the black market rate is the most accessible, as official allocations remain difficult to obtain. This creates a dual exchange rate system where the naira’s real value on the streets differs from the government’s official benchmark.

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As of today, the parallel market continues to dictate daily transactions, especially for importers and individuals needing quick access to foreign exchange.

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