Aboki Naira to Dollar Black Market Rate Today, 29th April 2025
The Nigerian Naira continues to face significant pressure against the US Dollar in the parallel market, with the black market exchange rate reflecting ongoing economic challenges.
According to data sourced from Bureau De Change (BDC) operators and platforms such as Investors King and Aboki Forex, the Dollar to Naira black market exchange rate today, Tuesday, April 29, 2025, stands at an average of ₦1,600 to ₦1,610 for buying and ₦1,615 to ₦1,625 for selling.
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The black market, often referred to as the “Aboki market,” remains a critical indicator of Nigeria’s forex sentiment, driven by supply and demand dynamics in the informal sector.
Currency dealers in major hubs like Lagos, Abuja, and Kano reported slight variations in rates, with Abuja’s Wuse Zone 4 market quoting an average buying rate of ₦1,605 and a selling rate of ₦1,620. These rates are notably higher than the Central Bank of Nigeria (CBN) official rate, which is estimated to hover around ₦1,595.41, based on recent data from currency converters like Wise.
The disparity between the official and black market rates underscores persistent dollar scarcity in Nigeria, exacerbated by fluctuating oil prices, speculative trading, and limited foreign exchange inflows. A trader in Lagos, who preferred anonymity, noted, “The demand for dollars is high, but supply is tight. People are holding onto dollars, expecting the Naira to weaken further.” This sentiment aligns with recent reports of speculative buying amid global economic uncertainties, including US tariff policies impacting Nigeria’s forex reserves.
The CBN has implemented interventions to stabilize the official market, but these efforts have had a limited impact on the parallel market, where rates remain volatile. On April 28, 2025, the Naira strengthened marginally by 0.14% against the Dollar after a week of fluctuations, according to the News Agency of Nigeria (NAN). However, black market traders indicate that without significant improvements in dollar supply, the Naira may face further depreciation, with some analysts forecasting a potential slide toward ₦2,000/$1 in the near future if current trends persist.
Market participants, including businesses and travellers, are advised to monitor rates closely and exercise caution when engaging in large transactions. Platforms like Aboki Forex and NgnRates.com provide real-time updates on black market rates, though traders warn that rates can vary across markets due to the parallel market’s unregulated nature.
For the latest Dollar to Naira black market exchange rate updates, reliable sources such as Investors King, Aboki Forex, and the CBN’s official channels are recommended. As Nigeria navigates its complex forex landscape, the Aboki market remains a vital pulse of its economic reality.
