7 best Nigerian stocks to buy
In no particular order, we present a list of the 7 best Nigerian stocks to buy in 2023 for long-term investing.
The Nigerian Stock Exchange (NSE) now Nigerian Exchange Group is a Nigerian stock exchange founded in 1961 in Lagos. As of july 2023, Nigerian Stock Exchange has over 300 listed companies for investors to trade.
Have you been advised to invest in Nigerian stocks but are unsure of which stock to invest in? Search no more; this article is all you need.
7 Best Nigerian Stocks To Buy in 2023
1. International Breweries (NGX: INTBREW)
International Breweries Plc manufactures and distributes soft drinks, beer, and alcoholic and non-alcoholic beverages.
The company registered as a public limited liability company on the Nigerian Stock Exchange on April 26, 1994.
International Breweries, with a market capitalization of 134 billion Naira and roughly 0.5% of the NGX’s equity market, is currently one of the most lucrative businesses on the Nigerian Stock Exchange.
The company began its 2022 journey with a share price of 4.95 Naira and then appreciated by 1.01%, pushing it to one of the top spots in terms of results so far this year.
2. United African Company (UAC) of Nigeria (NGX: UACN)
UAC of Nigeria Plc is into food, property development, and shipping industries. The company is divided into 5 sections, which are paints, foods and beverages, logistics, real estate, and others
With a market value of 32.3 billion Naira and a market share of roughly 0.1% in the equity market, UAC Nigeria is a large company. One of the most valued equities on the Nigerian stock exchange is UAC Nigeria.
UAC’s share price started the year at 9.50 naira and has since grown by 17.9%, making it one of the top-performing stocks on the stock exchange.
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3. Transnational Corporation of Nigeria Plc (NGX: TRANSCORP)
Transcorp specializes in the purchase and organization of important businesses that offer long-term shareholder earnings and community impact.
Its operational sectors include oil and gas, agro-allied, corporate centre, and power. The Transcorp Hilton Hotels in Abuja and Calabar stand out among Transcorp’s diverse portfolio of investments.
Transcorp has a market capitalization of 45.5 billion Naira and accounts for at least 0.17% of the stock market.
Transcorp is currently ranked 36th on the Nigerian stock exchange based on its performance after its share price, which began the year at 0.96 Naira, moved by 16.7%.
4. Unilever Nigeria (NGX: UNILEVER)
Unilever Nigeria Plc manufactures and sells home and personal care products. Its two main product categories are food and home and personal care. Spices and drinks are included in the food products category.
The home and personal care sector covers sales of dental care, domestic cleaning, skincare, and detergents.
With a market capitalization of 77.6 billion Naira, Unilever Nigeria is the 27th most lucrative stock on the stock exchange.
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5. MTN Nigeria Communications Plc (NGX: MTN)
MTN Nigeria Communication Plc, formerly MTN Nigeria Communication Ltd., is engaged in the installation and management of Global System for Mobile Communication (GSM) networks as well as other related services in this sector.
The company provides a wide range of products and services, such as mobile banking services, telephone services, and broadband wireless services.
MTN Nigeria is the third largest company on the Nigerian Stock Exchange, with a market capitalization of 4.09 trillion Naira, or 15.4% of the stock market.
MTN’s share price has risen by 2.03% year on year from 197 Naira, propelling it to the 50th position on the Nigerian Stock Exchange.
6. Flour Mills of Nigeria (NGX: FLOURMILL)
Flour Mills Nigeria Plc makes pasta, refined sugar, noodles, and animal feeds in addition to milling flour. The company is subdivided into segments such as food, sugar, agro-allied, and other support services.
The company has a market cap of 135 billion Naira, making up 0.507% of Nigeria’s equity market. Its share price has climbed by 16.1% since its January starting valuation of 28.35 Naira, ranking it 38th in terms of performance.
7. Dangote Sugar Refinery (NGX: DANSUGAR)
Dangote Sugar Refinery Plc is a company that converts raw sugar into edible sugar. In addition, the company grows and grinds sugar cane to generate refined sugar.
Some of its sub-regions include Lagos, the South Western, the South Eastern, and Northern Nigeria.
The company was founded in March 2000 in Lagos, Nigeria. The Dangote Sugar Refinery now has a market capitalization of N201 billion, or 0.8% of the stock market.
Conclusion
The list was constructed using current information at the time the article was submitted. You should be aware that investing might be dangerous due to fluctuating stock prices. As a result, it is crucial to make wise investments.
