Is Nigeria's stock market really profitable? - Nigerian Movies & Nollywood on Naijarules.com

EyeCandy · #1 (**permalink**) 12-22-2005, 02:16 AM

I've heard that the stock market is now a good way to make money in Nigeria.
Personally I wouldn't do it for the fear of fraudulent stock brokers and all. I'm sure there are legit ones....
Would you invest in Nigeria's stock market? What is the average return on investment?

Funmibaby · #2 (**permalink**) 12-22-2005, 07:57 AM

Quote:

Originally Posted by EyeCandy

I've heard that the stock market is now a good way to make money in Nigeria.
Personally I wouldn't do it for the fear of fraudulent stock brokers and all. I'm sure there are legit ones....
Would you invest in Nigeria's stock market? What is the average return on investment?

Nigeria's stock market believe it or not has always been good. trust me, go to a reputable stock brokerage and invest, no problem. I would advise though, depending on the risk u want to take (risk as it pertains to stock trading not nigeria stuff

) to invest in stable stocks like coca-cola etc.

Gen Sani Abacha · #3 (**permalink**) 12-22-2005, 09:27 AM

Yea, I've put out feelers meself, and I heard good reports of good returns.
Something I'll defo be looking into for sure.

bigmomma · #4 (**permalink**) 12-22-2005, 10:03 AM

Yup, i heard about this my freshman year in college the nigerian stock market is hot and even i heard there are plans to have a website for trading i cant w8

EyeCandy · #5 (**permalink**) 12-22-2005, 12:44 PM

Quote:

Originally Posted by Funmibaby

Nigeria's stock market believe it or not has always been good. trust me, go to a reputable stock brokerage and invest, no problem. I would advise though, depending on the risk u want to take (risk as it pertains to stock trading not nigeria stuff

) to invest in stable stocks like coca-cola etc.

My friends keep raving about Nigeria's stock market, it's not even a joke.
I will definitely do more research.

EyeCandy · #6 (**permalink**) 12-22-2005, 12:44 PM

Quote:

Originally Posted by bigmomma

Yup, i heard about this my freshman year in college the nigerian stock market is hot and even i heard there are plans to have a website for trading i cant w8

The website thingy will be a good idea.

zelifat · #7 (**permalink**) 12-27-2005, 08:08 PM

Up naija! na dis kind gist I dey like to hear. Nigerian Breweries and MTN are good ones to go for.

Crystalgirl · #8 (**permalink**) 02-07-2006, 01:18 PM

Any one have more information on this? esp. the trading website.

Multioption and blue, please help out!

Multioption · #9 (**permalink**) 02-07-2006, 01:30 PM

Quote:

Originally Posted by Crystalgirl

Any one have more information on this? esp. the trading website.

Multioption and blue, please help out!

You'll have to wait till Abuja's branch of SEC is launched online. Folks in diaspora will be able to trade our stocks.

Benin · #10 (**permalink**) 02-07-2006, 01:35 PM

Hell yeah!! Zenith Bank just put up a mega amount of shares for sale on the market, and they're very profitable. Folks are buying or are going to buying them up like hotcakes. If you want to rich in like 10 years invest in this stock now. Buy alot of it while it's cheap, and watch it grow sky high as the bank continuously expands at an amazing rate.

Crystalgirl · #11 (**permalink**) 02-07-2006, 01:38 PM

Quote:

Originally Posted by Benin

Hell yeah!! Zenith Bank just put up a mega amount of shares for sale on the market, and they're very profitable. Folks are buying or are going to buying them up like hotcakes. If you want to rich in like 10 years invest in this stock now. Buy alot of it while it's cheap, and watch it grow sky high as the bank continuously expands at an amazing rate.

Benin! That's exactly what I was looking for...What is their trading sign? Have you seen growth reports? Its unbelievable...I hope it doesn't implode.

zenke · #12 (**permalink**) 02-07-2006, 01:59 PM

Quote:

Originally Posted by Benin

Hell yeah!! Zenith Bank just put up a mega amount of shares for sale on the market, and they're very profitable. Folks are buying or are going to buying them up like hotcakes. If you want to rich in like 10 years invest in this stock now. Buy alot of it while it's cheap, and watch it grow sky high as the bank continuously expands at an amazing rate.

And when will it come 2 an end?

Benin · #13 (**permalink**) 02-07-2006, 04:01 PM

Quote:

Originally Posted by zenke

And when will it come 2 an end?

Who knows?? The New Naija mega banks are head over hills above all other banks in the West African region, in fact most of Africa at whole... with the exception of the South African banks, and all of them are determined to go international and are equally being encouraged to do so by the government in order to source ever greater levels of financial holdings.

Zenith has for a long time been pretty much a mega private bank in which heled the accounts of some for the most wealthy in Naija, now, since the reforms kicked it... and competition has drastically increased in the nations banking industry... the company has decided that it needed to broaden itself into a more public bank, they want to rapidly build branches all over the nation, and in the very near future even more outside of the nation.

Their logic behind sailing off a large chunk of their themselves to the public: 1) They'll drive up the public incentive to bank with them as they go more public. 2) Draw in funds needed to invest in the rapid expansion of their operations around the nation and world, and 3) Make a big splash in which would encourage the Fed to choose them as a first option to hold a share of the billions of $ of the nations foreign reserve, current healed in foreign banks, yet which are to be transferred to the nations current mega banks in the near future.

It'll be only a matter of little time before the Naija banks invade the minuscule banking industries of the other West African nations, and then on to central Africa, Eastern Africa and so-on. As the Nigerian economy continues to explode (8% growth last year, and an expected 10% growth this year) the nations Mega Banks will begin to acquire enough profit to simply flood out entire African nation's banking systems if deterrents aren't put in place to block them.

zenke · #14 (**permalink**) 02-07-2006, 04:28 PM

Quote:

Originally Posted by Benin

Who knows?? The New Naija mega banks are head over hills above all other banks in the West African region, in fact most of Africa at whole... with the exception of the South African banks, and all of them are determined to go international and are equally being encouraged to do so by the government in order to source ever greater levels of financial holdings.

Zenith has for a long time been pretty much a mega private bank in which heled the accounts of some for the most wealthy in Naija, now, since the reforms kicked it... and competition has drastically increased in the nations banking industry... the company has decided that it needed to broaden itself into a more public bank, they want to rapidly build branches all over the nation, and in the very near future even more outside of the nation.

Their logic behind sailing off a large chunk of their themselves to the public: 1) They'll drive up the public incentive to bank with them as they go more public. 2) Draw in funds needed to invest in the rapid expansion of their operations around the nation and world, and 3) Make a big splash in which would encourage the Fed to choose them as a first option to hold a share of the billions of $ of the nations foreign reserve, current healed in foreign banks, yet which are to be transferred to the nations current mega banks in the near future.

It'll be only a matter of little time before the Naija banks invade the minuscule banking industries of the other West African nations, and then on to central Africa, Eastern Africa and so-on. As the Nigerian economy continues to explode (8% growth last year, and an expected 10% growth this year) the nations Mega Banks will begin to acquire enough profit to simply flood out entire African nation's banking systems if deterrents aren't put in place to block them.

I hope other banks 'll follow suit

Crazy T · #15 (**permalink**) 02-07-2006, 04:35 PM

I love this jare!!! Up Nigeria! That Solude dude (Of CBN) is turning things around in Nigerian banking system.