Aboki Naira To Dollar Black Market Rate Today 6th March 2025

The Nigerian Naira’s exchange rate against the US Dollar in the black market, commonly known as the “Aboki rate,” has seen slight fluctuations as of today, Thursday, March 6, 2025.

According to reports from Bureau De Change (BDC) operators in key markets such as Abuja and Lagos, the Naira is trading at an average buying rate of ₦1,495 and a selling rate of ₦1,505 per US Dollar. This marks a marginal shift from yesterday’s rates, which hovered between ₦1,490 and ₦1,510, reflecting a relatively stable trend amid ongoing economic pressures.

Local currency traders attribute this stability to a temporary balance in the supply and demand for dollars within the parallel market. However, regional variations persist, with some dealers in Abuja quoting selling rates as high as ₦1,515, citing transportation costs and heightened demand in the capital. In Lagos, the hub of Nigeria’s informal forex market, rates remain slightly lower, averaging ₦1,498 for buying and ₦1,505 for selling.

The black market continues to serve as a critical lifeline for many Nigerians seeking foreign currency, especially as access to dollars through official banking channels remains limited. Economic analysts note that the persistent gap between the official exchange rate—set by the Central Bank of Nigeria (CBN)—and the parallel market rate underscores the challenges of forex liquidity and inflationary pressures facing the country. As of today, the official rate stands significantly lower, exacerbating the reliance on Aboki traders.

A trader in Wuse Zone 4, Abuja, who preferred anonymity, remarked, “The dollar is steady for now, but we don’t know what tomorrow will bring. People are still rushing for dollars because of uncertainty.” This sentiment reflects broader concerns about Nigeria’s economic outlook, with factors such as inflation, oil revenue fluctuations, and government policies influencing market dynamics.

For individuals exchanging smaller amounts, the current rates mean that $100 (USD) fetches approximately ₦149,500 at the buying rate and costs ₦150,500 at the selling rate. Meanwhile, the exchange of $1,000 (USD) equates to roughly ₦1.495 million when sold to traders and ₦1.505 million when purchased.

As the Naira’s value remains a national interest, Nigerians continue to monitor the official and black market rates closely. The Aboki rate, in particular, remains a key economic indicator for those navigating the country’s forex challenges on a daily basis. With no immediate resolution in sight for the forex scarcity, the parallel market is expected to retain its prominence in the coming weeks.