How to Buy Share in Nigeria: 2023 Updated

How to buy share in Nigeria has been the recurring questions on your lips of Nigerians especially after the post Coronavirus pandemic. However, many do not know how to go about it and as well, how to select the right companies to buy share from. Today, simplycashout will take us through the process of buying shares in Nigeria.

How to Buy Share in Nigeria.

If you want to buy shares in Nigeria, an intending buyer must know and understand the Nigerian Stock Market works.The Nigerian Stock Exchange (NSE) is the main securities exchange in the country, where publicly traded companies list and advertise their shares for trading. The NSE is regulated and monitored by the Securities and Exchange Commission (SEC), which makes sure that all transactions are carried out based on the laws and regulations of the Nigerian capital market.

How to Buy Share In Nigeria: Crucial Steps to Take

How to buy share in Nigeria has been a herculean task for most buyers, especially the newbies. That is why it is always better to go about the following process while going about how to buy share in Nigeria.

Finding and Choosing a Right Stockbroker: A stockbroker acts as an intermediary between the Nigerian Stock Exchange and the buyers. There are different licensed stockbrokers in Nigeria. Therefore, an intending investor must make sure that he does indepth research to choose the right stockbroker. Some of the top licensed stockbrokers in Nigeria include Stanbic IBTC Stockbrokers, Meristem Stockbrokers, and ARM Securities.

Registering a Stockbroking or Brokerage Account: When going about how to buy share in Nigeria, we need to have an account with a stockbroker. This can be done online by visiting the website or we do it physically by visiting stockbrokers offices. The account opening process differs between stockbrokers but does involves process of filling out an application form and providing a copy of your identification documents for easier KYC.

Depositing or Funding of Account: An investor needs to fund his account with money which can be done through some bank transfer, cheque or other means of depositing. It is always important to know that while trying to buy share in Nigeria, it is important to fund our account with the money that we can afford to lose.

Thorough Research of the Market: Before buying shares, it is very necessary to do some personal research to understand the trends and risks associated with the shares to buy. Information about the share listed by the Nigerian Stock Market can be gotten from financial news websites, stockbroking firms, and investment blogs among other sources.It is always better to keep on monitoring the company that we have interest in to make the right decision.

Placement of Order: One needs to know how to buy shares in Nigeria before placing orders. If not, there may be need to call for assistance in order to prevent the loss that may be encountered while doing this. There are at times some guidelines on how to place order. We need to specify the number of share that we want to buy and how much the number will cost.

Monitoring of Investment’s Performance: We just don’t buy shares in Nigeria without learning how to monitor our investment, that is, the share that we bought. We need to have a Trading Views where we can be keeping eyes on our investment. Trading strategy can be adjusted to suit the company’s situation of things.

Which Share is Best to Buy in Nigeria

It is not only important to know how to buy share in Nigeria but also, it is better to know that best shares to buy to maximize the profit that we may end up having as our Return on Investment. Though we should know that the stock market is unpredictable, which make it to predict accurately the stock’s performance. However, there are some factors to consider while researching on how to buy share in Nigeria and the best share to buy in Nigeria. Those factors that can influence a stock’s value include the company’s financial health, industry trends, and economic conditions in the country. Despite these, there are some best shares to buy in Nigeria and they include:

Dangote Cement: Dangote Cement which has Alhaji Aliko Dangoe, as its chairman, is Nigeria’s largest cement producer. The company which started in the early 70s has a formidable market share in the industry. It has a strong financial position, which has guarantee paying consistently the dividends to its shareholders. Since the Nigerian government’s focus on infrastructure development and increasing demand for cement in the construction industry, Dangote Cement has been a good long-term investment to venture into.

How to buy share in Nigeria.

Guaranty Trust Bank: Guaranty Trust Bank popularly known as GTB, which was founded in February 1991, is one of Nigeria’s leading banks, which has a strong brand and reputation. The bank has been consistently delivering strong financial results, with its focus more on innovation and digital and internet banking. The company’s strong commitment to customer satisfaction and its shareholders’ value makes had made it the best choice for intending investors.

Nigerian Breweries: Nigerian Breweries is one of the leading brewery company in Nigeria. It is the largest brewery company which was established in 1946.It has a diverse product portfolio that includes beer, malt drinks, and spirits. The company has a strong distribution chain and brand reputation, which has made it to maintain its market leadership position. Nigerian Breweries Plc is the largest brewery in Nigeria and the producers of popular brands such as Star, Heineken, and Gulder.

How to buy share in Nigeria

MTN Nigeria: MTN Nigeria is the largest telecommunications company in Nigeria. The South African company, which was started in Apapa, Lagos, in 2001, has a significant market share. The company has a strong financial position and has been delivering positive results. The daily increase in mobile users and demand for data services make MTN Nigeria a good long-term investment to be considered while going about how to buy share in Nigeria.

How to buy a share in Nigeria.


Nestle Nigeria: Nestle Nigeria is a food and beverage company in Nigeria, established around 57 years ago also has a diverse product portfolio that includes baby food, dairy products, and confectionery. The company as well has a strong brand reputation and has consistently delivered strong financial results.Nigerian population and increasing in the middle class make Nestle Nigeria a good investment option for investors.

How to buy a share in Nigeria


Zenith Bank Plc:Zenith Bank Plc is one of the leading banks in Nigeria, that has a very strong customer service and innovative banking solutions. The bank which was established in May, 1990 by Jim Ovia is known for consistently delivering good financial results and as well famous for excellent corporate governance.

How to buy a share in Nigeria

Important thing to Know Before Buying Shares in Nigeria

Buying shares in Nigeria can be a lucrative investment if proper research is done before choosing the right stockbroker. When it comes to investing in shares in Nigeria, it’s important to remember that the market can be volatile, and there are no guarantees of returns. However, by doing your research and investing in solid companies with strong financials and good management, you can increase your chances of success.

By following the steps highlighted in this article, it will be easier to know how to buy shares in Nigeria with ease and confidence. Remember to always keep eyes on your investment and request for professional advice whenever it is necessary.


It is always better to know much on how to buy shares in Nigeria and the best shares to buy in Nigeria before starting the any investment on shares and stock investment. This is not alone, there is need to know the best shares to buy among different companies that are listed in the Nigerian Stock Exchange. The article has explained in details on how to go by all these. Should in case, there is any question, suggestions or comment, er can use the comment box.


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