As of today, May 16, 2025, the dollar to naira exchange rate in the black market in Lagos is approximately:
- Buying rate: ₦1,620 to ₦1,625 per 1 US dollar
- Selling rate: ₦1,625 to ₦1,630 per 1 US dollar
Different sources report close values within this range, for example:
- ₦1,625 buying and ₦1,630 selling
- ₦1,620 buying rate
- ₦1,610 reported by another source, slightly lower but close
This rate is significantly higher than the official Central Bank rate, reflecting the premium on the black market due to supply and demand dynamics
. In summary, if you are exchanging dollars for naira in Lagos' black market today, expect to get around ₦1,620 to ₦1,630 for each US dollar
