Quick Answer: What Can I Invest With 50000 Naira?

Where can I invest my money in Nigeria?

Five ways to invest money in Nigeria for beginnersNigerian Stock Exchange.

The Nigerian Stock Exchange is a place to consider when searching for where to put some money.

Treasury Bills.

Fixed Deposits.

Eurobonds.

Money market funds..

How can I double my money?

7 Ways to Double Your Money (Fast)Open an account with a trading service such as Robinhood or Webull, which offer free stocks for opening or funding an account or for inviting friends to join.Buy IPO stock.Flip sneakers purchased on Stockx on eBay or via the Snkrs app.Sell freelance services on the Fiverr platform.More items…•

Is 50k a year a lot?

As you can see, a salary of $50k is considered good money. However, there is ample room for improvement if you want to improve your situation. The average household income is approximately $63k. Therefore, a salary of $50k is considered below average.

What can you buy with 1 dollar in Nigeria?

In Nigeria, a dollar when converted to local currency can buy you 2 liters of fuel or a well-made meat pie.

What can 50k do for you?

Profitable Business You Can Start With 50k or Less In Nigeria.Mini Importation Business. … Catfish Farming: … Recharge Cards Vendor: … Baking Business. … Popcorn Production: … Sales Of Drinks And Water: … Shawarma/Barbecue: … Digital Marketing Business.More items…•

Is $100 a lot of money in Nigeria?

So yes, it is a lot but just enough depending on who has it. Largely depends on who you ask. $100 is around 36,000 Naira which is twice our current official minimum monthly wage. To someone who earns minimum wage, which unfortunately is the bulk of the Nigerian populace, it is a lot of money.

How can I double my money in 5 years?

Rule of 72: Divide 72 by the Expected Annual Returns Since you want to double your money in 5 years, your investments will need to grow at around 14.4% per year (72/5). Or if your goal is to double in 10 years, you should invest in a manner to earn around 7.2% every year.

Is 50k a lot of money?

For most people, $50,000 is more than enough to cover their living expenses for six full months. And since you have the money, I highly recommend you do so. … In other words, you should put the money into a savings account at a completely different bank than you use for your normal checking and savings accounts.

How much interest does 50k make?

You will have earned in $110,357 in interest. How much will savings of $50,000 grow over time with interest?

How much is $1 US in Nigeria?

Currency Table USD / NGN (01/11/2021)USD$ 1$ 100NGN396.3539.64 k

Why is the naira so weak?

Why is the Naira suffering? The COVID-19 pandemic (with all the lockdowns it ushered) and a slump in the price of crude oil in the international market are the reasons why Nigeria’s Naira is weakening by the day. … Oil accounts for 95% of Nigeria’s foreign exchange earnings and 80% of budgetary revenue.

What can I invest in with 50k?

Here are nine ways to invest 50k:Individual Stocks. Individual stocks represent an investment in a single company. … Real Estate. … Individual Bonds. … Mutual Funds. … ETFs. … Invest with a Robo Advisor. … CDs. … Invest in Your Retirement.More items…