Nairametrics went to the streets of Lagos to find out what a N500 can purchase in the life a common man. You’ll be shocked with our findings from different respondents:
- BRT Tickets In Lagos
In Lagos N500 will get you an average of 3 BRT Tickets in Lagos for a ride in any location with the average price of a bus ride being N150.
- Used ‘2nd Hand’ Books
There are lots of roadside booksellers in different cities in Nigeria, this is not to advice against buying brand new books, but there are lots of books one can buy in Lagos for an affordable price. Short motivational books, history of Nigeria books, etc.
- Airtime
N500 Airtime will give you the opportunity to talk for an average of 10 mins on any network of your choice.
- 5 Litres OF Petrol For Your Generator
N500 will get you an average of 5 Litres of fuel in most states in Nigeria. In Lagos the average price of fuel is N96.50, in Abuja N94.60, Rivers 99.71, and Akwa Ibom N106.00. Your “I better pass my neighbor” generator will go with this measurement for an average stretch of six hours.
- Daily Newspapers
N500 will get you at least 2 newspapers (Punch, The Nation, Thisday) in any part of Nigeria with some change in your pocket.
- Bottle of Beer
N500 will get you at least 2 bottles of beer of your choice out of your favourite brands.
- An Earphone and Phone Case
An earphone will cost you around N200 or N250, add a phone case to it, depending on the type of phone you use though.
- A Bunch of banana, Apples and Oranges
N500 can get you a bunch of bananas at an average price of N250, oranges and apples.
- A Pair of Bathroom Slippers
- A Pack Of Vest
they are available for you to purchase.
Whichever way you find the N500, it is certain that it still commands some level of purchasing power in Nigerian economy, especially with the low income earner. Spend it wisely
On your own part, tell us what N500 can get you. Write to us through: info@nairametrics.com
