Naira Faces Pressure Amidst Surge In Parallel Market Dollar Rates

Check the black market exchange rate for Dollar to Naira (USD to NGN) on April 8th, 2025 below. This is the rate you can exchange your dollars for Naira in the parallel market.

Dollar to Naira Black Market Exchange Rate (Aboki FX):

At the Lagos Parallel Market (Black Market), the rate on Tuesday, April 8th, 2025, saw the buying price for one dollar at ₦1,555 and the selling price at ₦1,565, according to sources within the Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not endorse the parallel market. It has directed individuals to approach their banks for forex transactions.

Dollar to Naira Black Market Rate Today:

• Buying Rate: ₦1,555

• Selling Rate: ₦1,565

Dollar to Naira CBN Official Rate:

• Highest Rate: ₦1,655

• Lowest Rate: ₦1,590

Keep in mind that exchange rates can fluctuate, and the rates at which you buy or sell forex may differ from those listed in this article.

In related news, the U.S. government has defended President Donald Trump’s decision to impose a 14% tariff on Nigerian exports, citing trade barriers created by Nigeria’s restrictions on 25 categories of American goods.

Last week, Trump announced the “Liberation Day” trade measures, imposing tariffs that affect nearly all countries, including Nigeria. His administration argued that Nigeria applies an average 27% tariff on American imports, which they considered unfair.

The U.S. Trade Representative (USTR) released a fact sheet that emphasized Nigeria’s policies, especially in agriculture, pharmaceuticals, and consumer goods, which have led to losses for American businesses. These tariffs have triggered economic reactions worldwide, with other countries, including China and Canada, threatening retaliatory actions.