Nigeria is West Africa's largest gold market. Artisanal gold mining is widespread in states like Osun, Kaduna, and Zamfara. Gold jewelry is prominent at celebrations and weddings, and Nigerian entrepreneurs increasingly look to gold as a naira inflation hedge. The CBN has promoted gold reserves as part of its foreign exchange diversification strategy.
Gold Price in Nigeria Today (NGN) — Live 24K Rates Per Gram in Naira
Track live gold prices in Nigeria in Nigerian Naira (NGN) today. Our price tables display 24K, 22K and 18K gold rates per gram and ounce, updated from international XAU spot prices via the current USD/NGN exchange rate.
Nigeria holds significant artisanal and small-scale gold mining (ASM) operations, with annual production estimated at 20–30 tonnes. The federal government's Gold for Development initiative aims to formalize artisanal mining and funnel raw gold to the Central Bank of Nigeria (CBN) for refined export.
For Nigerian investors, physical gold bars from certified refiners and gold-backed savings products offer a reliable hedge against naira depreciation. Compare live naira-denominated gold rates here before approaching local dealers to ensure you are transacting at fair market value.
Lagos Bullion Market / CBN reference — Nigerian gold jewellery demand is strong; rates follow USD/NGN and international spot.
GoldPriceTracer rates are indicative benchmarks for research and negotiation. See our data sources and editorial policy for methodology. Last updated: .
FAQ — Nigeria
Why is gold a popular investment in Nigeria?
Persistent naira devaluation against the US dollar makes gold an attractive store of value for Nigerians. As the naira weakens, the naira-denominated gold price rises, protecting investors from purchasing power erosion.
Where can I buy gold in Nigeria?
Gold dealers are concentrated in Kano's Wambai market, Lagos's Alaba International Market, and major jewelry markets in Abuja. Always verify seller credentials and request assay certificates for investment bars.
What is the 22K gold price in Nigeria today?
Today's 22K gold price in Nigeria is shown live in the table above, quoted in NGN per gram, per 10 grams. Rates refresh from international spot multiplied by the USD/NGN exchange rate.
What is the difference between 24K and 22K gold in Nigeria?
24K gold is 99.9% pure and used mainly for investment bars and coins. 22K (91.6% pure) is the standard for durable jewellery in Nigeria. Retail shops add making charges on top of the metal rate for both.
How often is the gold price in Nigeria updated?
GoldPriceTracer refreshes Nigeria rates every 15 minutes from international spot feeds and live exchange rates. For final purchases, always confirm the rate with your local jeweller or bullion dealer.
What currency is gold priced in for Nigeria?
Gold in Nigeria is displayed in NGN (₦). The underlying benchmark is the global USD spot price, converted at the current USD/NGN rate shown on this page.
