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🇳🇬 Silver Price Today in Nigeria | ₦106,115.1
Live silver price in Nigerian Naira (NGN) — updated every minute
Last updated: Jun 18, 2026, 02:57 PM ET
Per Gram (NGN)
₦3,411.6771
Per Troy Oz (NGN)
₦106,115.10
Per Kg (NGN)
₦3,411,677
USD/Silver Spot
$65.91/oz
USD/NGN Rate
1 USD = 1610 NGN
Gold/Silver Ratio
64.0:1
Silver Market in Nigeria
Nigeria is one of Africa's largest economies and has growing silver production, particularly from artisanal and small-scale miners in states like Kebbi, Niger, and Zamfara. The Central Bank of Nigeria holds limited silver reserves compared to its economic size. The naira's dramatic devaluation in 2023–2024 (from ~460 NGN/USD to over 1,500 NGN/USD) sparked renewed interest in silver.
Why do people in Nigeria invest in silver?
Naira devaluation and high inflation have driven Nigerian investors toward silver as a store of value. silver jewellery plays an important cultural role in Yoruba, Igbo, and Hausa wedding traditions. Lagos-based investment platforms and online dealers have made silver more accessible to Nigeria's growing middle class.
Frequently Asked Questions — Silver in Nigeria
What is the silver price today in Nigeria in naira?
Nigerian silver prices in NGN are quoted by local dealers at the international USD spot price converted at the prevailing official or parallel USD/NGN rate. Given FX market fragmentation, prices can vary significantly between dealers.
How has naira devaluation affected silver prices in Nigeria?
The naira lost approximately 70% of its value against the USD in 2023–2024. This meant NGN-denominated silver prices nearly tripled even as USD silver prices rose modestly. Nigerian silver investors who bought in 2022 saw massive NGN returns.
Can I buy silver online in Nigeria?
Several Nigerian fintech platforms now offer fractional silver investment, including Cowrywise and Rise (investment apps). Traditional dealers are found in Lagos's Computer Village area and major markets. Physical silver bars from reputable refineries can be ordered through international dealers with Nigerian shipping.
Is silver production growing in Nigeria?
Yes. The Nigerian government has been actively supporting the silver mining sector. Licensed artisanal mining zones have been created to formalize production. Companies like Segilola silver and others are developing industrial-scale mines that could make Nigeria a meaningful West African silver producer.