Aboki Naira to Dollar Black Market Rate Today, 16th April 2025

On April 16, 2025, the black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) in Nigeria’s major cities, including Lagos and Abuja, reflects ongoing fluctuations in the parallel market.

According to currency dealers in Lagos’ Zone 4 market and other key trading hubs, the dollar is being bought at approximately ₦1,610 and sold at ₦1,615 on the black market, also known as the Aboki exchange rate. These figures mark a slight increase from the official Central Bank of Nigeria (CBN) rate, which hovers around ₦1,604 per USD.

The black market, often preferred for its accessibility despite its unregulated nature, continues to show regional disparities. Traders note that rates may vary slightly depending on location and transaction volume, with Abuja and Port Harcourt markets reporting similar trends. This gap between the official and parallel market rates underscores the persistent pressure on Naira, which is driven by high demand for dollars amid Nigeria’s economic challenges, including declining oil output and rising debt burdens.

Analysts attribute the Naira’s volatility to global economic factors and local market dynamics. “The black market reflects real-time demand and supply, unlike the CBN’s controlled rates,” said a Lagos-based currency trader. “With oil prices dipping and foreign exchange reserves under strain, the Naira faces tough days ahead.”

For Nigerians planning international transactions or travel, experts advise monitoring rates daily through trusted platforms like Aboki Forex or Nairatoday, as the unregulated nature of the black market can lead to rapid changes. The public is also cautioned against exchanging large sums at once to avoid potential losses due to rate fluctuations.

As the Naira navigates these turbulent waters, stakeholders urge the CBN to address structural issues in the foreign exchange market to narrow the gap between official and black market rates, fostering greater economic stability.