(€) EUR to (₦) NGN Price Today: Understanding the Naira to Euro Exchange Rate
- Simon Zaku
- Mar 21
- 3 min read
Updated: Mar 25
The Current EUR (€) to Naira - NGN (₦) Value (updated daily)
₦1,671.70 Nigerian Naira Per EUR [3/22/2025]
Black-market rate: ₦1,677.93 Per EUR [3/22/2025]
₦1,660.20 Nigerian Naira Per EUR [3/23/2025]
(Today) 1 Euro equals ₦1,657.40 Nigerian Naira [2/25/2025]
Black-market rate: ₦1,669.93 Per EUR [3/23/2025]
(Today) Black-market rate: ₦1,660.93 Per EUR [03/25/2025]
What is the Nigerian Naira (NGN)?
Growing up in Nigeria, I remember seeing and using naira coins before cash notes became dominant.
Coins like the 1 kobo, 5 kobo, and even the 50 kobo were common, but over the years, inflation rendered them almost obsolete.
Interestingly, I still have a small stash of these coins saved as souvenirs from decades ago.
The Nigerian naira, introduced in 1973, replaced the pound during the economic shift to decimalization.
Despite its challenges, the naira symbolizes Nigeria’s economic independence and is central to everyday life.
To learn more, read my blog post: Nigerian Naira: Meaning and History Behind Nigeria’s Currency.
What is the Euro (EUR)?
The Current EUR (€) to Naira - NGN (₦) Value (updated daily)
The euro is the official currency of 19 out of 27 European Union (EU) member states, known as the Eurozone. Launched in 1999 as an electronic currency, it became one of the most traded currencies in the world.
Countries like France, Germany, Italy, and Spain use the euro for trade, investment, and tourism.
For Nigerians, the euro plays a vital role in foreign exchange for education, healthcare, and business with European nations.
EUR to NGN Exchange Rate Over the Years
1. 2010
1 EUR = ₦180 (official rate)
The naira was stronger, thanks to relatively stable oil prices.
2. 2015
1 EUR = ₦250
Nigeria’s foreign reserves dropped due to declining oil prices, weakening the naira.
3. 2020
1 EUR = ₦470 (official rate)
The COVID-19 pandemic affected global trade, pushing the naira to new lows.
4. 2023
1 EUR = ₦850 (official rate)
The exchange rate gap between official and black-market rates widened significantly.
5. 2024 (Today)
1 EUR = ₦950 (official rate)
On the parallel market, the rate is ₦1,200 per euro, driven by forex shortages.
The Current EUR (€) to NGN (₦) Value
₦1,671.70 Nigerian Naira Per EUR [3/22/2025]
Black-market rate: ₦1,677.93 Per EUR [3/22/2025]
₦1,660.20 Nigerian Naira Per EUR [3/23/2025]
(Today) 1 Euro equals ₦1,657.40 Nigerian Naira [2/25/2025]
Black-market rate: ₦1,669.93 Per EUR [3/23/2025]
(Today) Black-market rate: ₦1,660.93 Per EUR [03/25/2025]
Why EUR to NGN Matters
1. Education and Healthcare: Nigerians studying or seeking medical care in countries like Germany, France, and Spain often transact in euros.
2. Trade and Business: Many Nigerian importers rely on the euro for goods purchased from Europe.
3. Tourism and Travel: The euro is key for Nigerians traveling across Europe for work or leisure.
Economic Insights: EUR to NGN
The widening gap between the naira’s official and parallel market rates reflects Nigeria’s foreign exchange crisis.
Despite efforts by the Central Bank of Nigeria (CBN) to stabilize the currency, forex demand remains high due to import dependency and insufficient reserves.
Factors Driving EUR to NGN Fluctuations
Oil Prices: Nigeria’s economy heavily depends on crude oil, with prices directly impacting the naira.
Inflation: Nigeria’s high inflation rate, which exceeded 24% in 2023, has weakened the naira.
CBN Policies: Restrictions on forex access and devaluation decisions play a significant role.
Key Takeaways - EUR NGN
The naira-to-euro exchange rate mirrors Nigeria’s economic struggles and opportunities.
Whether you're paying tuition in euros, importing goods, or traveling to Europe, staying informed about these rates is crucial.
Do you transact in euros often?
Share your experiences or tips in the comments!
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If you want to learn more about Nigeria’s currency, check out my detailed post on the Nigerian Naira.
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Simon Taki Zaku, Founder, CEO, IbiFoundry.com.ng
For Ibifoundry.com.ng/blog.
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