There is a serious economic crunch in Nigeria at the moment and the cost of living is high. With the price of everything on the rise, certain Naira denominations are slowly becoming irrelevant and obsolete
The N5, N10 and N20 notes are some of the denominations slowly becoming insignificant as there is little to do with them. The N50 note appears to be heading in that direction but not quite, as there are still a few things that you can do with that amount today.
One of the first symptoms of rising cost of living is an increase in the price of food and as a result, some of the lower denominations in Nigeria are unlikely to get you a proper meal.
While you cannot sit down to a hearty meal at a restaurant, N50 can get you some street snacks.
Street foods are quite popular among Nigerians, who often purchase certain branded sausages when stuck in traffic. There are also local pastries like buns and puff puff, while certain biscuits and candy can also be purchased for as low as N50.
Water is vital to all life on earth and it is a commodity that must remain affordable to everyone. While there are no bottled water brands selling for N50 at the moment, sachet water, popularly called pure water, is still affordable.
With only N50 in your pocket you can cure your thirst with some sachet water which is readily available at almost every street corner. You can usually get three sachets of water for N50 and share with your friends.
While you cannot explore the country with N50, you can cover short distances with that amount. The tricycle (keke NAPEP) is a popular means of transportation on the streets of Nigeria, usually covering short distances.
N50 should be enough to get you to the corner shop for grocery shopping or even your gym or Sunday church service.
One of the more affordable things to get in Nigeria are laundry products like soaps and detergents. Most of these companies have sachet sized quantities and with N50 you can easily purchase your preferred laundry soap or detergents.
Personal stationery like pens, pencils, envelopes, writing paper and such are also things that can be purchased with as little as N50. There are also businesses that offer office services like photocopying, laminating and scanning, all of which can be done for a price of around N50 for a copy.
There are plenty of betting platforms in Nigeria all competing to get the edge over their rivals. One of the methods these companies employ is offering low bet minimum stakes to customers.
This means that with as low as N50 you can give yourself a chance to make some good money by placing a bet on certain platforms.
One of the more popular betting apps offering this service is Wazobet, which is a fast-growing betting operator in Nigeria.