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We have been inundated recently with requests for possible stocks you could invest in if you were interested in the Nigerian Stock Exchange. Most of the requests we received were from young Nigerians new to the stock market.

Quite frankly, the Nigerian stock market is at an impasse and there is very low confidence in investing especially if you are a retail investor. Foreign investors are apprehensive about buying Nigerian Stocks, Institutional Investors are also wary and local retail investors are not ready to carry the basket. Nevertheless, there is always an opportunity to invest especially when stocks are mostly at historical lows.

If you are very new to the Nigerian Stock Exchange and have no clue about how it works, then we suggest you, first of all, read this article. How To Invest In The Nigerian Stock Exchange.

About Nigerian Stocks

There are over 180 stocks listed on the Nigerian Stock Exchange. This is extremely small when compared to stock exchanges of advanced economies. For example, the New York Stock Exchange has about 2,800 companies listed. London Stock Exchange has over 2000 companies listed while the Johannesburg Stock Exchange has about 388 stocks listed.

Why you should be careful about what you buy

While we acknowledge in anguish that there are not enough companies to choose from on the Nigerian Stock Exchange, we also have a challenge with liquidity. This means despite the 180 stocks or more that we have, most of them to have the right volumes that can facilitate a trade (buy or sell). After all, you can only buy or sell or stock if there is liquidity for that stock.

You can buy stocks by using this app

Apart from liquidity, most of the stocks on the Nigerian Stock Exchange hardly release their results on time and when they do it is often too late. Most are also badly run with little to no transparency on what is going on with their product and services, employees and general operations.

We looked at these issues and came up with a list of stocks that we believe have a considerable level of liquidity (frequently traded) and are somewhat transparent. We won’t touch any stock not found on this list.

Download (PDF, 175KB)

This list may be updated from time to time. 

Disclaimer: This list is compiled by Nairametrics Research Team and is not a piece of investment advice or recommendation. Always consult your stock advisor for professional guidance on what, when and how to invest.



  1. This is a good contribution to Capital Market development; kindly review the record constantly because the market is volatile and dynamic.

  2. this is the advise of shallow minded business men. i remember when dangote bought into benue cement, then benue cement was almost rubbish stock, good investors with money see those stocks considered bad buy into them , and make them investors toast, don’t they have such investors in Nigeria? is that the investors in nigeria are just like thieves waiting for steal from others labor without adding anything into them.

    • Maybe the article is not meant for such ‘already made’ investors but for others like me who earn pennies but are still bent on building enviable futures for ourselves and our offsprings.
      Trust me, I have my hard-earned money locked up in some of those worthless stocks and I hate to see them on my list of stocks. Most painful thing is that you can’t even sell them off, even at a loss.
      To me and others in this category, the article is just right on time.


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