Gold Market Report
Nigeria Gold Market Report
Independently researched coverage of the Nigeria gold market, last verified Aug 31, 2026. 24K gold is currently NGN 185,730.40 per gram.
See the live gold price page for Nigeria →Research coverage
4 of 4 research sections published for Nigeria.
- About this market
- Market notes
- Buying guide
- Tax & duty notes
Gold Price by Purity
Live prices in NGN.
| Purity | Per g | Per oz t | Per tola | Per kg |
|---|---|---|---|---|
| 24 karat (999.9) | NGN 185,730.40 | NGN 5,776,861.08 | NGN 2,166,322.90 | NGN 185,730,396.45 |
| 22 karat (916.7) | NGN 170,276.08 | NGN 5,296,178.17 | NGN 1,986,066.81 | NGN 170,276,082.03 |
| 21 karat (875) | NGN 162,530.35 | NGN 5,055,258.97 | NGN 1,895,722.11 | NGN 162,530,349.93 |
| 18 karat (750) | NGN 139,311.73 | NGN 4,333,079.12 | NGN 1,624,904.67 | NGN 139,311,728.51 |
| 14 karat (583.3) | NGN 108,347.37 | NGN 3,369,980.06 | NGN 1,263,742.52 | NGN 108,347,374.99 |
| 10 karat (416.7) | NGN 77,401.60 | NGN 2,407,458.76 | NGN 902,797.03 | NGN 77,401,596.36 |
Trend
Last 3 months
Per gram · NGN
- Change
- +6.51%
- Low
- NGN 172,324.93
- High
- NGN 199,950.59
Historical data is presented from the site's retained market samples and daily rollups.
View full history →About the Nigeria gold market
KmalServico presents Nigeria’s gold reference in Nigerian naira (NGN) and uses grams as the configured primary unit. The page answers a practical question: what is the international gold benchmark worth when expressed in local currency and the weight a user selected?
Read the full section on the live price page →Market notes
Nigeria has documented gold deposits in Zamfara, Kebbi, Niger and Osun states, with artisanal mining tracing back generations — yet almost all gold sold in Nigerian jewellery retail is imported and refined abroad, since the country lacks large-scale domestic refining capacity to match its own retail demand.
Read the full section on the live price page →Buying gold in Nigeria
A jewellery price includes the physical item as well as its gold content, while a bullion-style reference focuses more directly on the metal. KmalServico therefore treats the live price as a reference value rather than a guaranteed shop quotation.
Read the full section on the live price page →Tax & duty notes
Nigeria's standard VAT rate is 7.5%.
Read the full section on the live price page →Sources
What the Nigeria research is based on
Each claim below traces to a specific, checkable source rather than a general reference.
- Stripe — Nigeria VAT Rate: A Guide for Businesses
Supports: Nigeria's standard VAT rate of 7.5%
Checked Aug 31, 2026
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Compare Nigeria with other gold markets in the same part of the world.
Learn
Guides relevant to this gold market
- education
How Gold Prices Work
Gold prices are set globally in USD per troy ounce and translated into every local market using exchange rates and purity.
- weight
Gold Weight Units Explained
Gram, troy ounce, tola, baht, kilogram — a complete conversion guide.
- purity
Gold Hallmarks Explained
What 999, 916, 875, 750 and 585 stamps actually mean.
- purity
24K vs 22K Gold: What's the Difference?
24K is nearly pure gold. 22K is 91.6% gold mixed with other metals for durability. Learn which suits investment vs. jewelry.
- buying
How to Buy Gold Safely
A step-by-step buyer's guide covering dealers, hallmarks, receipts and storage.
- investment
Gold Investment Basics
Bars, coins, ETFs, jewelry — how to start investing in gold.
Explore further
Gold terminology for this report
Methodology
How we calculate the price
- We fetch the international spot gold price (XAU/USD) live from xaus.com + gold-api.com, with automatic failover between providers.
- The spot rate is converted into the local currency using live exchange rates from exchangerate-api.com, then scaled by purity (24K, 22K, 18K…) and by weight (gram, tola, ounce, kilogram, baht).
- The result is the pure spot value. Retail counters may add dealer premium, tax and making charges — the number here is the underlying benchmark.