What moving abroad costs in naira, then and now

How has the naira moved since 2021?

At the Central Bank of Nigeria’s official rate, a US dollar cost ₦380 in February 2021, ₦1,679 at its weakest in December 2024, and ₦1,331 today.

1. 1

   Several exchange rates, 2021 to mid-2023

   ₦380 to ₦461

   The official rate moved slowly, but it was not the rate most people could buy dollars at: the IMF reported that dollars on the parallel market cost 35 to 40 percent more from October 2021 (IMF, June 2022).

2. 2

   One market, June 2023

   ₦753

   On 14 June 2023 the CBN merged its foreign-exchange windows into a single market (CBN). By early July the official dollar cost ₦753, up from ₦461 a month before.

3. 3

   The low point, December 2024

   ₦1,679

   The weakest the official naira has been against the dollar. A move priced in dollars cost 3.6 times as much naira as before the merge.

4. 4

   Today, 9 Oct 2026

   ₦1,331

   The naira has recovered: a dollar costs ₦348 less than at the low point. That is why the moves in the table below cost less in naira than they did a year ago.

How much does it cost to relocate from Nigeria in naira today?

A typical move costs from ₦2.6m (Hungary) to ₦21.3m (Canada) today: visa fees, proof of funds where required, a one-way flight from Lagos and three months’ rent, on each country’s main route.

Is relocating cheaper in naira than a year ago?

Yes, on the exchange rate alone: the same costs need 5 to 19 percent less naira than in October 2025, because the naira has strengthened against every currency these moves are paid in.

The naira moved most against the Turkish lira and least against the Australian dollar, so moves paid in Turkish liras changed most. Fees themselves change too; this page holds today’s fees fixed, so every difference here is the exchange rate.

• Turkish lirastronger by 23.2%
• Polish złotystronger by 15.6%
• Swedish kronastronger by 14.8%
• Eurostronger by 13.2%
• New Zealand dollarstronger by 12.8%
• Thai bahtstronger by 12.6%
• Canadian dollarstronger by 11.3%
• Poundstronger by 10.9%
• US dollarstronger by 9.4%
• Hungarian forintstronger by 7.1%
• Malaysian ringgitstronger by 6.6%
• South African randstronger by 6.4%
• Australian dollarstronger by 4.2%

What if the naira keeps moving at the last 12 months’ pace?

If every currency moved against the naira in the coming year exactly as it did in the last, these moves would cost about this much in a year’s time. That is arithmetic, not a forecast.

Canada

₦18.9m₦2.4m less than today

United Kingdom

₦16.5m₦2.0m less than today

Germany

₦4.7m₦681k less than today

The naira can turn quickly: between June 2023 and December 2024 it lost 73% of its value against the dollar. Keep budgeting today’s figure.

Which exchange rate does this page use?

Today’s figures use the same rate as the rest of Japa Calculator, so they match every country guide (9 October 2026). The earlier columns take those same costs and scale them by how far the Central Bank of Nigeria’s central rate moved since then.

• Each rate is the middle of the five most recent days the CBN published, so a single misprinted day cannot move a figure.
• The CBN publishes rates for the dollar, the pound and the euro. The other currencies here come through the CBN dollar rate and the European Central Bank’s reference rates.
• Fees charged in naira at visa centres in Nigeria (South Africa) do not move with the exchange rate here.
• Moves are priced from October 2024 onwards. Before the June 2023 reform, the official rate was not what most people paid, so a move priced at it would look cheaper than it was.

CBN rates as of 9 Oct 2026. Costs are estimates from official sources; confirm fees on the official sites before paying.