Aboki Naira to Dollar Black Market Exchange Rate Today, 8th August 2025

As of today, Friday, August 8, 2025, Bureau De Change (BDC) operators across major markets, including Lagos, Abuja, Kano, and Port Harcourt, are quoting the dollar at an average buying rate of ₦1,550 and a selling rate of ₦1,565, according to reliable sources in the parallel market.

These rates reflect a slight stabilization compared to earlier this week, with the dollar trading at ₦1,555 (buy) and ₦1,565 (sell) on August 6, 2025, and ₦1,565 (buy) and ₦1,570 (sell) on August 5, 2025. The marginal fluctuations underscore the persistent pressure on the naira, driven by high demand for dollars due to importation needs, international travel, and educational expenses abroad.

The Central Bank of Nigeria (CBN) continues to distance itself from the parallel market, urging citizens to conduct forex transactions through authorized banks. However, limited access to dollars through official channels, coupled with bureaucratic hurdles, continues to fuel the prominence of the black market.

For instance, converting $100 today would yield approximately ₦155,000 when selling, while purchasing $100 would cost around ₦156,500. These rates are notably higher than the official CBN rates, which are estimated to hover between ₦1,515 and ₦1,535 per dollar at the Investors’ and Exporters’ (I&E) window. The gap between official and black market rates highlights Nigeria’s ongoing foreign exchange challenges, including limited reserves and dependence on crude oil revenues.

Market analysts attribute the naira’s volatility to structural economic issues, such as import dependency and fluctuating foreign exchange inflows.

Experts suggest that stabilizing the naira will require boosting diaspora remittances, increasing crude oil sales, and attracting foreign direct investments. Social media platforms have also become vital for real-time updates, with users sharing rates and insights daily, though these should be verified with trusted local dealers due to potential variations.

For accurate and up-to-date market insights, Nigerians are advised to consult platforms such as TheCityCeleb.com. Official rates can be confirmed via the Central Bank of Nigeria’s website.

As the naira faces ongoing challenges, the black market remains a vital, albeit unofficial, pillar of Nigeria’s forex ecosystem.

Always verify rates with trusted dealers before engaging in transactions, as prices can vary by location and transaction volume.