How to Pick Stocks in Nigeria

Hi

Welcome to my blog! Great to have you here.

A friend introduced me to stocks in Nigeria. He told me about the Intercontinental Bank Initial public Offer which was taking place. I trusted my friend, so I bought.

I bought some stocks and started doing some research on stocks. I bought the following books and read it.

Come into my trading room. by Dr Alexander Elder.
The Buffett Way
Up My Street by Peter Lynch.

I realised that, I preferred the long term stock trading strategy. Which states that, buy in the bear market (when no one is buying) and sell in the bulls market (when everyone is buying).

After studying the Nigerian Stock Exchange for a while, I will recommend the banking industry stocks in Nigeria.

For instance, I will buy the following stocks.

First Bank
Intercontinental Bank
Skye Bank
Bank PHB
Oceanic Bank
Zenith Bank
Union Bank
Guaranty Trust Bank
UBA

The reasons are because, they are fundamentally sound and they are highly capitalised. They are not going to bankrupt in a while and my money is safe. Also, some of the banks offer bonuses like 4 shares and get 1 free. They pay good dividends which can be used to pay school fees, if you are in Nigeria. Education is free here in the UK.

I will also buy stocks of these other companies:

Dangote Sugar Refinery
WAPCO
UnionHomes
Oando
Cadbury
Nestle


The reasons are, DSR is a monopoly and we need sugar. Nigerians build a lot of home so that is the reason for WAPCO and they have been around for so long.

UnionHomes - because there is shortage of homes in Nigeria. So there is a demand.

Oando - I like their petrol and diesel. The amount of generators used in Nigeria. There is a market there.

Cadbury & Nestle - mainly because food is one of the main necessities of life.

Thank You!



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