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Gold Price in Nigeria Today

Live gold price in Nigerian Naira (NGN) per gram. Live prices from international markets.

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Nigeria Gold Price — NGN per Gram

KaratNGN per gram (Live)Notes
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Nigeria Gold Market

Nigeria is Sub-Saharan Africa's largest economy and a significant gold consumer. The country is also a gold producer — with mines in states including Osun, Zamfara, Kebbi, and Niger. However, artisanal mining dominates, and much gold is sold informally.

The main gold trading hub in Lagos is the Alaba International Market and jewelry dealers in Lagos Island. Gold in Nigeria is primarily sold in grams (18K and 22K for jewelry). Investment bars are sold by licensed dealers and some commercial banks.

Naira Devaluation and Gold as a Hedge

The Nigerian Naira experienced a dramatic devaluation in 2023–2024 when the CBN (Central Bank of Nigeria) floated the currency. USD/NGN moved from ~NGN 470 in early 2023 to NGN 1,500+ by early 2024 — a ~70% devaluation in 12 months.

This made gold prices in NGN dramatically higher in nominal terms. Nigerians holding gold as savings preserved purchasing power while NGN savers lost the majority of their dollar value. This has accelerated interest in gold as a dollar-alternative store of value.

Trade Gold from Nigeria with Exness

Nigerian traders can access XAU/USD and USD/NGN trading via Exness. Instant USDT withdrawals bypass NGN restrictions.

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Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Frequently Asked Questions

What is gold price in Nigeria per gram today?
The live NGN per gram gold price is shown in the table above. The rate uses the current USD/NGN parallel market rate × international XAU/USD ÷ 31.1035 grams per troy ounce. Prices at Lagos jewelry shops may vary by 2–5% from the mid-market rate.
Where to buy gold in Nigeria?
Licensed jewelry dealers in Lagos Island, Alaba market, and Abuja Silverbird Galleria area. Some commercial banks (Access Bank, Zenith Bank) offer gold bar purchases. Digital gold apps like Piggyvest and Cowrywise also offer gold-backed savings products.
Can I trade gold in Nigeria through Exness?
Yes. Exness accepts Nigerian clients. Trade XAU/USD (gold vs US dollar) with leverage. USDT crypto withdrawals are popular in Nigeria as an alternative to NGN bank transfers. Minimum deposit $10.