5 Best Shares to Buy in Nigeria

5 Best Shares to Buy in Nigeria

The Nigerian Exchange Group (NGX) is the official stock exchange for Nigeria with about 360 public companies listing their shares on the exchange to make them available for retail and institutional investors to either buy, sell, or exchange stocks.

Choosing the best shares to trade can be a daunting exercise for many investors, especially for new traders. Based on information from the top traded companies on the NGX, the following is a comprehensive list of the 5 best shares to buy in Nigeria right now: Conoil Plc (NGX: CONOIL)

CONOIL is the 87th most-traded stock on the NGX and it has traded a total volume of 6.35 million shares, which were sold in 1,340 deals, at a value of NGN 139 million. CONOIL achieved an all-time high trading volume of 695,146 on August 9.

Conoil Plc started the year with 20.85 NGN, and it has since increased by 7.19% to a price of 22.35 NGN, ranking it 53rd on the NGX with its year-to-date performance.

Expert traders recommend CONOIL stocks to traders that wish to get lucrative returns on their investment. Honeywell Flour Mill (NGX: HONYFLOUR)

Honeywell Flour Mill is a manufacturer and marketer of a variety of wheat-based products that include flour, semolina, noodles, pasta and more.

Honeywell Flour Mill began the year 2021 with a share price of 1.20 NGN, and it has gained 217% on this price valuation, which ranks it third on the NGX with its year-to-date performance.

Investors are optimistic about the performance of HONYFLOUR shares, since it has gained 85% in a recent four week period. Seplat Energy PLC (NGX: SEPLAT)

Seplat Energy PLC is an energy providing company that started the year with a share price of 402.30 NGN, which has increased by 88.8% on this valuation which ranks it 10th on the NGX with its year-to-date performance.

In the past three months, SEPLAT was ranked as the 84th most-traded stock on the NGX, with a total volume of 8.86 million shares being traded in a total of 1,238 deals which were valued at a total of more than NGN 6.33 billion. Its P/E ratio is 3.57 and EPS 212.70. MTN Nigeria (NGX: MTNN)

MTN Nigeria, a telecommunication company, is ranked 62nd on the NGX where year-to-date performance is concerned, having started the year with a share price of 172.50 NGN and gaining 1.53% on this price valuation for the year.MTN Nigeria is the 37th most-traded share on […]

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