Nigeria · NGN · February 2026
Gold Price in Nigeria — February 2026
In February 2026, the gold price in Nigeria closed at approximately ₦7,173,910 per troy ounce, equivalent to ₦2,690,260 per tola or ₦230,646 per gram. This represents a +7.95% change on the month (₦6,645,669 open → ₦7,173,910 close).
Open
₦6,645,669
per troy ounce
Close
₦7,173,910
per troy ounce
High
₦7,175,404
per troy ounce
Low
₦6,633,034
per troy ounce
All unit prices at February 2026 close — Nigeria
| Unit | Weight | Closing NGN price |
|---|---|---|
| Troy ounce | 31.1035 g | ₦7,173,910 |
| Gram | 1.0000 g | ₦230,646 |
| 10 grams | 10 g | ₦2,306,464 |
| Kilogram | 1,000 g | ₦230,646,397 |
| Tola | 11.664 g | ₦2,690,260 |
Karat-purity breakdown at February 2026 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24KNIGERIA STD | ₦230,416 | ₦2,687,569 |
| 22K | ₦211,272 | ₦2,464,278 |
| 21K | ₦201,816 | ₦2,353,977 |
| 18K | ₦172,985 | ₦2,017,695 |
| 14K | ₦134,928 | ₦1,573,802 |
| 10K | ₦96,180 | ₦1,121,838 |
Daily gold price in NGN — February 2026
The 2026 gold market: Gold's role in a multi-polar reserve system
2026 finds gold continuing as a structural reserve asset. Central banks remain net buyers. Gold's share of total global reserves has crossed 18 percent — the highest since the 1990s. The post-2022 monetary order, with gold playing a larger role alongside multiple reserve currencies, appears to be consolidating rather than reversing.
Key drivers in 2026
Multi-polar reserve system, central-bank accumulation continuing, AI-era productivity vs monetary expansion debate
The Nigeria gold market
Nigeria retail gold prices are quoted in the local currency per gram for 24K and 22K purities, and per troy ounce for investment-grade bullion. Local rates usually sit above the international XAU/USD spot price after import duties, sales taxes, and jewellery making charges are applied. Use this archive as the international reference price; final retail rates depend on your dealer and the date's exchange rate.
Standard quote unit
gram
Common purity
24K
Currency
NGN (₦)
Daily gold price — February 2026, Nigeria
₦6,645,669
$4,891.40/oz
₦6,633,034
$4,882.10/oz
₦6,785,745
$4,994.50/oz
₦6,918,757
$5,092.40/oz
₦6,822,022
$5,021.20/oz
₦6,752,595
$4,970.10/oz
₦6,749,741
$4,968.00/oz
₦6,856,531
$5,046.60/oz
₦6,907,344
$5,084.00/oz
₦6,900,687
$5,079.10/oz
₦6,951,907
$5,116.80/oz
₦6,906,257
$5,083.20/oz
₦6,856,259
$5,046.40/oz
₦6,851,912
$5,043.20/oz
₦6,851,912
$5,043.20/oz
₦6,836,287
$5,031.70/oz
₦6,781,126
$4,991.10/oz
₦6,806,668
$5,009.90/oz
₦6,824,739
$5,023.20/oz
₦6,940,631
$5,108.50/oz
₦6,939,816
$5,107.90/oz
₦7,024,051
$5,169.90/oz
₦7,133,286
$5,250.30/oz
₦7,117,254
$5,238.50/oz
₦7,089,674
$5,218.20/oz
₦7,073,099
$5,206.00/oz
₦7,175,404
$5,281.30/oz
₦7,173,910
$5,280.20/oz
How Nigeria gold prices are calculated on this page
Source. The international XAU/USD spot price comes from gold-api.com's historical archive (London PM-fix benchmark). The NGN/USD exchange rate comes from exchangerate-api.com's 2026 year-end snapshot.
Conversion. Every NGN figure on this page is computed as XAU/USD price × NGN/USD rate. We use the year-end exchange rate consistently across all February 2026 prices on this page.
Per-unit math. Per-gram = per-ounce ÷ 31.1035. Per-tola = per-gram × 11.664. Per-10g = per-gram × 10. Per-kilo = per-gram × 1000. Karat values multiply per-gram by the purity ratio (24K = 0.999, 22K = 0.916, 21K = 0.875, 18K = 0.750, 14K = 0.585, 10K = 0.417).
What this page does NOT include. Local sales tax / VAT, customs duty on imports, dealer making charges, jewellery design premiums, or coin numismatic premiums. To go from this pure-metal value to a final retail rate in Nigeria, add the country-specific levies described in the “Nigeriagold market” section above.
FAQ — Nigeria gold price in February 2026
What was the gold price in Nigeria in February 2026?
In February 2026, gold in Nigeria opened at ₦6,645,669/oz and closed at ₦7,173,910/oz — a move of +7.95% on the month. Per tola: ≈₦2,690,260; per gram: ≈₦230,646; per 10g: ≈₦2,306,464.
What was the 24K gold rate per tola in Nigeria in February 2026?
The 24K gold rate per tola in Nigeria at the February 2026 close was approximately ₦2,690,260, derived from international XAU/USD spot of $5,280.20/oz times the 2026-end NGN/USD exchange rate of 1,358.6436. This is pure metal value; final retail rates include local taxes and dealer making charges.
What was the 24K gold rate per gram in Nigeria in February 2026?
Nigeria's most-quoted retail standard is 24K per gram. At the February 2026 close, that worked out to approximately ₦230,416 (24K pure-metal value). Add local taxes and making charges for the final retail rate.
How was the local currency price calculated?
NGN prices on this page are computed from the verified international XAU/USD spot price for February 2026 (sourced from gold-api.com), multiplied by the 2026-end NGN/USD exchange rate from exchangerate-api.com. We use year-end rates as a single reference point for the entire month — for most stable currencies the within-year FX drift is small, but during currency crises (PKR 2022–23, TRY 2022, ARS 2024 etc.) the actual mid-month rate may differ.
Why does the retail price in shops differ from this number?
The ₦ figures here represent the international gold spot price converted to NGN at the 2026-end exchange rate. Nigeria's retail jewellers add (1) import duties and sales tax (varies by SKU and karat), (2) dealer making charges (typically 3–12% of metal value), and (3) a small premium for purity certification on bars. Always verify the exact day's retail rate with a reputable local dealer before transacting.
Want today's rate in Nigeria? See live gold prices in Nigeria with minute-by-minute updates and per-karat breakdowns.
Different month or year? Use the prev / next buttons above, or jump to the full 2026 archive or the USD-only February 2026 page with the country-by-country list at the bottom.
Other markets? Compare February 2026 prices across other major gold-trading countries: Ghana, Kenya, South Africa, Tanzania, Egypt, Zambia.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to NGN at the 2026-end exchange rate. They are intended for informational and educational use only and do not constitute investment advice or a price quote for buying or selling physical gold today. Always verify current local rates with a reputable bullion dealer in Nigeria before transacting.