Precious metals
Gold Price in Nigeria
Live gold price per gram and per ounce, by karat, in NGN.
199,951.90 NGN
per ounce: 6,219,199.42 NGN · per tola: 2,332,199.02 NGN
| Karat | Per gram | Per ounce |
|---|---|---|
| 24K | 199,951.90 NGN | 6,219,199.42 NGN |
| 22K | 183,289.25 NGN | 5,700,932.80 NGN |
| 21K | 174,957.92 NGN | 5,441,799.49 NGN |
| 18K | 149,963.93 NGN | 4,664,399.56 NGN |
Raw metal (spot) value — shops pay less when buying and charge more when selling (premium + making charges).
Typical making charges: souk ~6–10%, branded jewellery ~15–25%. Rough estimate — negotiate!
Silver: 2,998.24 NGN / gram
Spot prices via gold-api.com, updated 2026-08-27 — for information only, not financial advice, and not our responsibility for any decisions made using them. Jewellers add a premium and making charges over spot, so retail prices are higher.
Gold price in Nigeria, explained
Gold trades globally in US dollars per troy ounce. To show the price in NGN, we convert at the live exchange rate and divide by 31.1035 grams, then adjust for karat purity. That is why the local price moves with both the gold market and the NGN exchange rate.
Need the price in another currency? Use our currency converter.
Gold in Nigeria: the local market
Nigerian retail gold runs 18K and 21K, much of it imported through Dubai, with Lagos and Kano the main trading centres.
With the naira's volatility, wealthier savers increasingly treat gold — alongside dollars and stablecoins — as a store of value, though the formal bullion market remains small.
Local units & today’s value in NGN
| Unit | 24K | 18K (local standard) |
|---|---|---|
| 1 gram | 199,952 NGN | 149,964 NGN |
| 1 troy ounce(31.1035 g) | 6,219,204 NGN | 4,664,403 NGN |
Spot value only — local shops add making charges and any taxes. Prices as of 2026-08-27.
Zakat nisab in NGN today
The gold nisab — the minimum wealth at which zakat becomes due — is 85 grams of pure gold. At today’s spot price that is about 16,995,912 NGN. If your zakatable wealth is above this, work out what you owe with our zakat calculator (live nisab, gold or silver method).
Gold price in other countries
Frequently asked questions
What is the gold price per gram in Nigeria today?+
This page shows the live 24K gold price per gram in NGN, along with 22K, 21K and 18K. It is the international spot price converted to NGN and divided per gram, updated hourly.
Why is the jeweller's price in Nigeria higher than this?+
This is the raw metal (spot) value. Shops add a premium plus making charges, and local taxes may apply, so the retail price is higher than spot.
Which karat is most common in Nigeria?+
18K (75.0% pure) is the karat most commonly traded in Nigeria. 24K is pure gold; lower karats mix in alloy and cost proportionally less per gram.