How the naira price of one gram of 24 karat gold has moved
The table above this text shows the naira price of one gram of 24 karat gold for each day in the last two weeks, once at the Central Bank of Nigeria’s official dollar rate and once at the Lagos street dollar rate. The record is kept by this site from each day’s reading, so it starts short. A move in this price comes from the world metal and from the naira rate, which this table does not separate.
The price of a gram, day by day
Each day's 24 karat gram in naira at the official and street dollar, and the change from the previous row.
| Day | 24K gram, official dollar | 24K gram, street dollar | Change | Change, % |
|---|---|---|---|---|
| 03 Nov | ₦170,563 | ₦176,517 | ₦-576 | -0.34% |
| 02 Nov | ₦171,139 | ₦177,114 | — | — |
Priced on: 02.11.2026
What each column shows
The first column shows the date. The next column shows the naira price of one gram of 24 karat gold at the CBN official dollar rate. The following column shows the naira price of one gram at the Lagos street dollar rate. The last column shows the day’s move in the official-dollar price.
The table does not separate the change in the world gold price from the change in the naira rate. A rise in the naira price could come from a rise in the dollar gold price, a fall in the naira, or both.
The record is kept by this site from each day’s reading, so the table is short at first. Each day’s figure is stored with the date and the two inputs used. If a reading is refused, the previous day’s row remains, and the table shows the last accepted reading.
The table is a record of what the derived price was on each day, not a forecast of what it will be tomorrow.
A move in the naira price of gold comes from two sources: the world gold price in dollars, and the naira exchange rate. The table does not separate the two. A reader who wants to know which one moved must look at the two inputs separately.
The world gold price is set on international markets and moves with global supply and demand. The naira rate moves with Nigeria’s currency market. The two can move in the same direction or in opposite directions.
The official-dollar price uses the Central Bank of Nigeria’s volume-weighted NFEM rate. That rate is published on the CBN’s website and is used for many formal settlements. The street-dollar price uses the Lagos sell average posted on NgnRates.com, which aggregates dealer quotes submitted by users.
The street rate is a reported rate, not a survey. It may be based on one dealer’s quote per side, and it may not reflect the rate available in other cities. The official rate is more stable but lags the street rate when the naira is under pressure.
The table shows the day’s move in the official-dollar price, but not the street-dollar price. The street-dollar price moves with the street rate, which can be volatile. A reader who wants to see the street-dollar move can calculate it from the two daily figures.
The table does not show a percentage change. The day’s move is shown in naira, not as a percentage. The size of the move depends on the level of the price and the size of the change in the inputs.
A buyer should use the table to see the direction of the price over the last two weeks, not to predict the next day. The table is a record, not a forecast. The price tomorrow will depend on the world gold price and the naira rate tomorrow, neither of which can be known in advance.
At a glance
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Questions about the gold price
Why does the table start short?
The record is kept by this site from each day’s reading. The table grows one row per day as the readings are taken. At first, it covers only a few days. Over time, it will cover two weeks or more.
What does the day’s move mean?
The day’s move is the change in the naira price from the previous day to the current day, at the official-dollar rate. It is shown in naira, not as a percentage. The move comes from changes in the world gold price and the naira rate.
Why are there two naira prices each day?
The world gold price is in dollars. To express it in naira, a conversion rate must be chosen. Nigeria has two commonly used rates: the Central Bank of Nigeria’s official rate and the Lagos street rate. The choice of rate changes the naira figure for the same gram of gold.
Does the table separate the gold move from the naira move?
No. The table does not separate the change in the world gold price from the change in the naira rate. A rise in the naira price could come from a rise in the dollar gold price, a fall in the naira, or both.
Can I use this table to forecast tomorrow’s price?
No. The table is a record of what the derived price was on each day, not a forecast. The price tomorrow will depend on the world gold price and the naira rate tomorrow, neither of which can be known in advance.
If you want to trade the gold price itself
This site links to an account with FxPro, an international broker. Gold is quoted there as a contract for difference, which means no metal is delivered, weighed or stored. The account is not a way to buy gold in Nigeria; it is a way to take a position on the world price in dollars. Opening an account requires identification and takes a day or two.