Top 10 Best Stocks and Shares To Buy In Nigeria Stock Market

In this post, I’ll give you insight top 10 best stocks to buy in the Nigeria stock market in the current year 2023. Some wealthy people cannot be bad-mouthed even despite not knowing their sources of income. Not all millionaires have giant businesses established as they might have something they know how to do better.

One such is a stock investment.

Investing in stocks does not require you to have a small or large business established no, that’s obvious!

What are Nigerian Stocks and Nigerian Stock Exchange (NSE)?

Nigeria stocks may be referred to as the stocks of companies listed on the Nigerian Stock Exchange (NSE), which is the principal stock exchange of Nigeria. 

The NSE is one of the largest stock exchanges in Africa, with a market capitalization of over $50 billion as of 2021.

Currently, there are over 160 companies listed on the NSE, with a diverse range of sectors which includes financial services, consumer goods, oil and gas, healthcare, and telecommunications. 

Some of the largest companies listed on the NSE include Dangote Cement, Guaranty Trust Bank, MTN Nigeria, Nestle Nigeria, and a lot more.

Trading on the Nigeria stock exchange is regulated by the Securities and Exchange Commission (SEC) of Nigeria, which ensures the transparency, fairness, and integrity of the market. 

You can buy and sell stocks on the NSE through licensed stockbrokers or online trading platforms.

Like any other stock market, investing in Nigerian stocks involves risks, including the potential for losses. 

However, with proper research and analysis, you can easily identify opportunities for long-term growth and diversification in your investment portfolios.

Top 10 Best Stocks To Buy In Nigeria Stock Market In 2023

It’s important you note that the performance of stocks can be affected by various factors such as market conditions, company-specific news, and economic indicators. 

Therefore, this list should not be necessarily taken as financial advice, and you should conduct your own research before making any investment decisions.

That being said, here are the 10 best stocks to buy in the Nigeria stock market today:

1. Dangote Cement Plc (DANGCEM)

Without being sentimental, Dangote Cement is arguably the largest cement producer in Africa and one of the largest companies listed on the NSE. 

The Dangote cement company has a strong financial position, with a dominant market share in Nigeria and operations in several other African countries.

For investors ready to invest and get a resourceful income, this is the most recommended among the top 10 best stocks to buy in the Nigeria stock market.

2. MTN Nigeria Communications Plc

MTN Nigeria is widely known as the largest telecommunications company in Nigeria, with over 70 million subscribers.

The company has a strong brand and has been able to maintain its market share despite Glo, Airtel, and the likes in competition in the industry.

As seen on their official website (MTN Nigeria official website, the public offer to retail investors for the sale of up to 575 million shares held in MTN Nigeria by MTN Group was priced at N169. 00 per share (the Offer). 

The Offer was opened on Wednesday, 1 December 2021, and closed on Tuesday, 14 December 2021.

3. Guaranty Trust Bank Plc (GTB)

Guaranty Trust Bank is one of the leading banks and financial institutions in Nigeria, with a strong focus on digital banking and customer experience.

 The same financial institution has a solid track record of profitability and has consistently paid dividends to its shareholders.

However, for you to invest in Guaranty Trust Bank (GTB) stocks, you may need to go to any GTBank near you to obtain the needed form and meet their requirements.

4. Zenith Bank Plc (ZENITHBANK)

Zenith Bank is another leading bank in Nigeria with a strong focus on innovation and digital transformation. The bank has a solid financial position and a diversified revenue base. 

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The Zenith Bank equity share is currently available for buying on the Nigeria stock exchange trading platform under the ticker symbol “Zenith Bank”.

Also, you can head over to their nearest office for guidelines and guidance.

5. Nestle Nigeria Plc (NESTLE)

Nestle Nigeria is also included in the list of the top 10 best stocks to buy in Nigeria’s stock market, it is generally known as the world’s largest food and beverage company.

 The company has a strong brand and a diversified product portfolio, including popular brands such as Milo, Maggi, and Nescafe.

6. Nigerian Breweries Plc (NB)

 Nigerian Breweries is yet another company you can buy stock from, it is the largest brewery company in Nigeria and a subsidiary of Heineken.

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 The company has a strong market position and a diversified product portfolio, including popular brands such as Star, Gulder, and Heineken.

However, the current share price of Nigerian Breweries is N38.55, although Nigeria Breweries began the year with a share price of N41.00 it has unexpectedly lost 5.98% off the price valuation.

7. Seplat Petroleum Development Company Plc (SEPLAT)

Seplat is an independent oil and gas exploration and production company with operations in Nigeria. 

The company has a diversified asset portfolio and has been able to maintain profitability despite the challenges in the industry.

8. Access Bank Plc (ACCESS) 

Access Bank is the merger of the then diamond bank and has since then experienced tremendous growth.

That aside, before it merged with Diamond bank, it had always been on the list of top leading Nigerian banks with a focus on digital banking and financial inclusion. 

The bank has a diversified revenue base and a strong track record of profitability.

You can invest in Access bank stocks as it’s available on the Nigeria stock exchange trading platform under the Access bank symbol.

9. Nigerian Aviation Handling Company Plc (NAHCO)

NigerianbAviation Handling Company is a leading ground handling company in Nigeria, providing services to airlines and other aviation companies.

The company has a strong market position and a diversified revenue base.

10. Total Nigeria Plc (TOTAL) 

 Total Nigeria is a subsidiary of Total S.A., a global energy company.

The company is engaged in the marketing and distribution of petroleum products in Nigeria and has a strong market position.

You can as well buy Total Nigeria stock, it’s one of the best over stocks you can buy here in Nigeria.

Frequently Asked Questions On Top 10 Best stocks to buy in the Nigeria stock market

Below are some of the related questions to the top 10 best stocks to buy in the Nigeria stock market:

What are the most popular stocks in the Nigerian Stock Market?

Some of the most popular stocks in the Nigerian Stock Market include Dangote Cement, MTN Nigeria Communications, Guaranty Trust Bank, Zenith Bank, Nestle Nigeria, Nigerian Breweries, and Seplat Petroleum Development Company.

Which Nigerian company is the best to buy shares from? MTN, GTB, Airtel, Zenith, or Dangote?

Dangote and MTN are one of the best-performing companies in Nigeria to buy shares from. Airtel shares have skyrocketed within these few years as the company is constantly investing in other sectors and making a profit. GTB and Zenith Bank shares are also good to invest in and those 2 banks are the best-performing banks in Nigeria in terms of profit generation.

How can I invest in the Nigerian Stock Market?

To invest in the Nigerian Stock Market, you can buy and sell stocks through a licensed stockbroker or online trading platform. You will need to open a brokerage account and fund it with the amount you want to invest.

Is it safe to invest in the Nigerian Stock Market?

Investing in the Nigerian Stock Market involves risks, including the potential for losses. However, with proper research and analysis, investors can identify opportunities for long-term growth and diversification in their investment portfolios.

What are the factors that affect the performance of stocks in the Nigerian Stock Market?

The performance of stocks in the Nigerian Stock Market can be affected by various factors such as market conditions, company-specific news, economic indicators, political developments, and regulatory changes.

How do I choose which stocks to invest in?

To choose which stocks to invest in, you can conduct research and analysis on factors such as the company’s financial position, management team, industry trends, and growth prospects. It’s important to diversify your portfolio and invest in a mix of stocks from different sectors to reduce risk.