Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 16th May 2025

Here’s the exchange rate for Thursday, May 15, 2025. If you’re looking to exchange your dollars for naira on the black market, these are the rates currently offered.

Black Market Dollar to Naira Exchange Rate – May 15, 2025

According to sources from Bureau De Change (BDC) operators in Lagos:

• Buying Rate: ₦1,625 per $1

• Selling Rate: ₦1,630 per $1

Note: These rates may vary depending on your location and the individual dealer. The Central Bank of Nigeria (CBN) does not officially recognize the parallel market and advises individuals seeking foreign exchange to go through their banks.

Official CBN Dollar to Naira Rate – May 15, 2025

• Highest Rate: ₦1,604

• Lowest Rate: ₦1,597

Nigeria’s Inflation Update – April 2025

In a related economic update, Nigeria experienced a slight decline in inflation in April. The headline inflation rate dropped to 23.71%, down from 24.23% in March 2025, according to the latest Consumer Price Index (CPI) released by the National Bureau of Statistics (NBS).

Food inflation also saw a modest drop, easing by 0.53 percentage points to 21.26%, compared to 21.79% in the previous month. This decline is largely attributed to falling prices of staple items like maize flour, wheat, dried okro, yam flour, soya beans, rice, and various local beans.

The NBS report stated:

“The Consumer Price Index rose to 119.52 in April 2025, an increase of 2.18 points from March. Year-on-year, April’s headline inflation was 9.99 percentage points lower than April 2024’s 33.69%, reflecting a notable improvement.”