The Dollar to Naira exchange rate in the black market remains under pressure as demand for foreign exchange continues to rise across Nigeria.
On Wednesday, September 3rd, 2025, the U.S. dollar is trading at ₦1,545 per $1 for buying and ₦1,555 per $1 for selling, according to Naijaonpoint and leading parallel market sources.
How Much is Dollar to Naira Today in Black Market?
As of today, Wednesday, September 3rd, 2025, the black market exchange rates stand as follows:
| Dollars to Naira | Exchange Rate Today |
|---|---|
| Buying Rate | ₦1,545 |
| Selling Rate | ₦1,555 |
(Source: Naijaonpoint)
Dollar to Naira: Black Market vs. Official CBN Rate
The parallel market rate remains significantly higher than the official figures published by the Central Bank of Nigeria (CBN). The CBN maintains a lower official rate, but limited forex supply and strict allocation policies mean most businesses, importers, and students paying tuition abroad are forced to turn to the black market for their dollar needs.
This disparity widens inflationary pressure and increases the cost of doing business in Nigeria, especially for industries dependent on imported raw materials and goods.
Factors Driving the Dollar to Naira Black Market Rate
Several issues continue to push the naira lower in the black market:
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High demand for forex by importers, travelers, and families paying school fees abroad.
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Reduced forex inflows due to weak oil revenues and declining reserves.
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Speculative hoarding, with traders holding dollars in expectation of further depreciation.
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Persistent inflation, which reduces naira purchasing power and encourages dollar savings.
Economic Implications for Nigerians
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Higher import costs make consumer goods more expensive.
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Manufacturers relying on foreign raw materials face squeezed margins.
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Families and students abroad require more naira to settle dollar expenses.
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Households experience worsening inflation and reduced purchasing power.
Outlook for the Naira
Analysts expect the pressure on the naira to continue unless forex inflows improve significantly. Policies that encourage non-oil exports, boost diaspora remittances, and attract foreign investment are vital to stabilizing the Dollar to Naira exchange rate and narrowing the gap between official and black market rates.
Disclaimer: Black market rates are unofficial and vary across locations. For official and regulated exchange rates, always refer to the Central Bank of Nigeria (CBN).