The Nigerian currency continued its cautious trend in the informal foreign exchange market as the Naira held within a familiar band against the United States Dollar on Thursday.
December 4th 2025 marks a period of elevated demand in the foreign exchange ecosystem as end-of-year commercial activities intensify nationwide.
According to verified Bureau De Change (BDC) operators across Lagos, Abuja, Kano, and Port Harcourt, the Dollar to Naira Black Market exchange rate stands at ₦1,455 per dollar for buying and ₦1,465 per dollar for selling.
While market participants confirm increased transaction volume, pricing remains relatively stable due to consistent FX inflows from remittances and moderate speculative activity compared to earlier in the year.
Dollar to Naira Rate Today — Black Market Table
| Date | Market Type | Buying Rate (₦) | Selling Rate (₦) | Status |
|---|---|---|---|---|
| Thu, Dec 4, 2025 | Black Market | 1,455 | 1,465 | — |
| Wed, Dec 3, 2025 | Black Market | 1,460 | 1,470 | −₦5 ▼ |
| Official Rate | CBN | — | — | See CBN |
Market data cross-checked using updates from Naijaonpoint.
How Much Is Dollar to Naira Today in Black Market?
The Dollar to Naira Black Market rate today remains positioned within the ₦1,455 – ₦1,465 band. Dealers say demand continues to rise among importers and retail buyers preparing for Christmas period stock purchases and international travel.
For official bank and government-regulated FX benchmarks, the most reliable source remains the Central Bank:
Central Bank of Nigeria (CBN)
Key Drivers of Today’s Exchange Rate
The Naira’s performance in early December is shaped largely by seasonal market factors rather than macroeconomic disruptions. Several elements continue to define the price movement:
🔹 Festive Imports Now at Peak Levels
Retail merchants and distributors are sourcing more dollars to pay for goods scheduled for December and January sales.
🔹 Demand for Travel and Tuition Payments
The holiday period brings a spike in international travel costs and school fee transfers, increasing spot-market FX pressure.
🔹 Stable Remittance Channels
Diaspora inflows are supporting liquidity levels, preventing sharp spikes in pricing despite high demand.
🔹 Mild Speculative Hedging
Some buyers are purchasing dollars slightly earlier to guard against potential sharp movements later this month.
🔹 Moderation in Cash-Based Transactions
BDC operators note healthy circulation of physical dollars, helping maintain pricing stability in the Black Market.
Impact on Nigeria’s Domestic Market
The latest development in the Black Market brings mixed implications for the broad economy:
Positive Economic Impact
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Inflationary pressure remains contained for now
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SMEs have a stable rate range to manage inventory purchases
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Pricing on key imported goods remains predictable
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Travel and health-related payments can be budgeted more accurately
Structural Challenges Persist
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Limited official FX access pushes more Nigerians to the black market
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Any rapid spike in demand could quickly change pricing dynamics
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Heavy import dependence leaves inflation vulnerable
As the festive economy accelerates, traders remain cautious — ensuring they do not contribute to an unnecessary price surge.
Outlook for the Coming Week
Analysts expect the Naira to trade within a controlled range during the first week of December, supported by remittance inflows from Nigerians living abroad and strong crude oil price performance above $85 per barrel.
Expected trading range: ₦1,452 – ₦1,472 per USD
Market confidence will depend heavily on:
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Pace of import-driven and travel-related FX requests
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Liquidity flow into informal markets
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Official policy action from the CBN
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December remittance patterns and banking channels
Conclusion
The Dollar to Naira Black Market exchange rate today, Thursday, December 4th 2025, stands at:
-
₦1,455 per dollar (buying)
-
₦1,465 per dollar (selling)
For accurate daily rates and real-time market insights, Nigerians rely on:
Naijaonpoint
Aboki Forex
Central Bank of Nigeria
As end-of-year travel, import demand, and seasonal spending continue to rise, the Naira’s performance in the Black Market will be a critical indicator of market stability in December.