Gold has quietly become one of Nigeria’s favourite escape routes from economic uncertainty. As inflation keeps climbing and the naira struggles to keep its strength, many Nigerians are looking for a safe place to store their money, and gold is ticking that box.
It doesn’t lose value as quickly as cash, and unlike real estate or stocks, it’s easy to buy, sell, or even pass down.
More Nigerians are beginning to see gold as a savings plan, something you can hold and rely on when times get hard. Nairametrics reported that gold in October 2025 surged to over US $4,250 per ounce, reflecting a roughly 58 % increase year-on-year.
Lagos sits at the heart of this growing demand. Some prefer to keep it as long-term savings, while others buy and sell for profit. Either way, the goal is the same: keep value in something solid.
For anyone in Lagos, finding where to buy gold is the next important step. The city has become the centre of Nigeria’s growing gold trade, with dealers and jewellers offering everything from investment-grade bars to elegant ornaments.
Whether you’re buying your first gram or adding to an existing collection, knowing where to buy matters as much as knowing why you should.
Here are the markets to buy gold in Lagos
Egbeda Market is located in Egbeda and sits along the busy Akowonjo Road/Idimu axis in the Alimosho Local Government Area.
Beyond being a popular destination for foodstuffs, fashion items, and household goods, Egbeda is also popularly known as a gold market. Many small jewellers and gold merchants operate there, selling everything from 18 karats and above.
Egbeda Market also trades in a wide variety of items. You’ll find fresh produce such as vegetables, yams flour, pepper and fish. Clothing and fashion accessories are common, both new and used and there are many stalls selling phones, electronics and household goods.
The location also comes with heavy traffic and crowding, so going early and being alert helps.
