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Virtually useless as a lubricant but,as nutella contains chocolate, you will find a lot less resistance when inserting a rod into a tongue for example, there is no problem getting the rod over the lip and onto the tongue with the chocolate present..a liberal application of nutella on nuts will make them almost magnetic. This is known as the " chocolate and nuts phenomenon."

as in greasing the wheel? It is a bit too grainy to use that way. You can use butter, lard, tallow, etc for lubricants as long as it is salt free.

I much prefer Vaseline on the axel of my wheel.