- Dollar to Naira Rate Today — 1 October 2025
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Exchange gap reflects dollar scarcity, speculation, and forex access issues.
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Rising rates push import costs higher, fueling inflationary pressures nationwide
As of 1 October 2025, the exchange rate between the US dollar (USD) and the Nigerian naira (NGN) continues to command close attention from traders, importers, exporters, and ordinary Nigerians due to its impact on prices of goods, services, and foreign transactions.
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EKO HOT BLOG reports that according to market data, the official (interbank) rate remains around ₦1,480.66 per USD, as indicated on the Central Bank of Nigeria’s recent listing.
On the parallel (black-market/“Aboki”) market, reports show that the dollar is being traded at approximately ₦1,515 per USD in Lagos.
These differing rates reflect the persistent gap between official and parallel markets in Nigeria’s foreign exchange system.
USD to NGN Conversion Table (1 October 2025)
| USD Amount | Official Rate (₦) | Parallel Rate (₦) |
|---|---|---|
| $1 | ₦1,480.66 | ₦1,515 |
| $5 | ₦7,403.30 | ₦7,575 |
| $10 | ₦14,806.60 | ₦15,150 |
| $50 | ₦74,033.00 | ₦75,750 |
| $100 | ₦148,066.00 | ₦151,500 |
| $500 | ₦740,330.00 | ₦757,500 |
What Drives the Rate Divergence?
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Supply constraints & dollar demand: High demand for foreign exchange for imports, external obligations, and travel often exerts upward pressure on the naira in parallel markets.
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Access issues: Many small businesses and individuals struggle to access dollars through official windows, pushing them toward the parallel market.
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Regulatory controls: The Central Bank and government often regulate or restrict foreign exchange flows, creating bottlenecks.
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Speculation & sentiment: Expectations, capital flows, and perceptions about economic stability feed into parallel market rates.
