The Naira weakened slightly against the U.S. dollar in the parallel market on Tuesday, reflecting continued pressure on Nigeria’s currency amid strong foreign exchange demand and limited dollar supply.
As of October 14th 2025, traders across Lagos and Abuja quoted the Dollar to Naira Black Market exchange rate at ₦1,490 per dollar for buying and ₦1,500 per dollar for selling.
The movement marks a minor dip from the previous session’s levels, as increased dollar demand from importers, business travelers, and students studying abroad pushed the local currency lower.
Dollar to Naira Black Market Rate Overview
| Date |
Market |
Buying (₦) |
Selling (₦) |
Change |
| Tuesday, October 14, 2025 |
Black Market |
1,490 |
1,500 |
-₦10 ▼ |
| Monday, October 13, 2025 |
Black Market |
1,492 |
1,502 |
– |
| Official (CBN) |
– |
– |
– |
Refer to CBN |
Data sourced from market operators and verified reports from Investors King and Aboki Forex.
How Much Is Dollar to Naira Today in Black Market
The Dollar to Naira Black Market exchange rate today shows that operators are buying dollars at ₦1,490 and selling at ₦1,500. Rates may vary slightly by location, but the overall sentiment points toward ongoing Naira weakness as demand continues to outpace available supply.
For the official exchange rate, visit the Central Bank of Nigeria (CBN).
Why the Naira Is Falling
Market analysts point to several factors driving the current exchange rate movement:
-
High Demand for Dollars: Importers and manufacturers continue to seek foreign currency for raw materials, equipment, and goods, increasing pressure on the Naira.
-
Limited Supply: Despite the CBN’s intervention efforts, the volume of dollars accessible through official channels remains insufficient.
-
Speculation: Traders and investors holding dollars in anticipation of further Naira depreciation contribute to volatility.
-
Inflation: Rising prices across essential goods weaken confidence in the Naira, leading many to hedge in dollars.
-
Oil Revenue Fluctuation: Nigeria’s dependence on crude oil earnings means any decline in oil prices directly affects dollar inflows and reserve levels.
Economic Impact
The persistent weakness of the Naira has wide-reaching effects across sectors:
-
Import Costs: Importers face higher costs, translating to price hikes for goods and services.
-
Inflation: Currency depreciation continues to drive inflation, especially in food and fuel prices.
-
Investment Confidence: Exchange rate instability discourages foreign investment and complicates financial forecasting.
-
Students and Travelers: Those funding education, medical treatment, or travel abroad are paying significantly more for dollars.
Analysts warn that unless the government implements long-term structural reforms to expand non-oil exports and stabilize supply, the black market will remain the dominant forex channel.
Outlook for the Week
The market outlook remains cautious. The Naira may continue to trade between ₦1,480 and ₦1,505 per dollar if forex demand remains elevated. Traders expect that CBN’s possible interventions and improved oil receipts could offer some short-term relief.
However, the underlying fundamentals—high import dependence, weak exports, and inflation—suggest continued volatility through the final quarter of 2025.
Conclusion
The Dollar to Naira Black Market exchange rate today, Tuesday, October 14th 2025, stands at ₦1,490 for buying and ₦1,500 for selling, showing another day of mild depreciation.
For daily updates and verified forex trends, Nigerians are encouraged to follow Investors King, Aboki Forex, and the CBN.
As Nigeria’s foreign exchange pressures persist, maintaining stability will depend on stronger monetary coordination, diversified revenue streams, and consistent policy execution.
