10/01/2024
I'm the last 2years, I have monitored stock market performance, with keen interests on markets in the US, Canada, Europe, China, and Japan; ignorantly uninterested in the Nigerian stock market.
In February 2022, I counseled a friend to stop frivolous spending and invest extra funds on the stock market. He heed the my advice and allocated 100k Naira on a listed Nigerian stock (name withheld for anonymous reasons).
By the end of December, my guy called me that his investment had increased by sixfold. I never knew he took my advice seriously and had invested in the Nigerian stock market. He closed his investment, spent part of the income for the Yuletide, and still had enough to open a 200k Naira investment January this year.
Honestly, I never knew Nigerian stocks could be this profitable! I further explored performance of Nigerian stocks, and observed that as at 2023 December:
Transcorp Hotels Plc recorded 1022.9% market increase
Chams Holding Plc recorded 795.5% market increase
CWG Plc recorded 721.8% market increase
TRANSCORP recorded 666.4% market increase
MRS Oil Plc recorded 644.7% market increase.
If I had invested 100k Naira at the start of 2022 in any of these stocks, I would have enjoyed a better Yuletide festival.
Indeed, financial opportunities abound! The problem lies with getting informed and educated about exploiting these numerous opportunities.
Nonetheless, investing in financial assets is associated with the risks of capital loss. Yet, investing in companies that are well-capitalized and have years of consistent healthy cash flow, minimizes the risk of capital loss.
By investments, I'm not referring to financial assets like cryptocurrency, derivatives. When one invests in reputable firms with years of solid financial growth, positive returns are guaranteed on the medium/long term. Although, crypto and derivative investing have been proven to be profitable, but they are extremely risky.
The year is just started, I encourage to cut frivolous spending, and decide to make an investment decision. Contact a reputable stock broker for investment advice. Albeit, I will provide you with regular update on stock market performance in Nigeria and across foreign markets, to help you make a suitable investment decision.
