How to Buy Conoil Stock in Nigeria
How to Buy Conoil Stock in Nigeria revealed. We tested and verified the best way to buy Conoil Stock in Nigeria.
This is a complete guide on how to buy Conoil Stock in Nigeria.
In this in-depth guide you’ll learn:
- What is Conoil Stock?
- How to buy Conoil Stock in Nigeria?
- Which broker can you use to buy Conoil Stock?
- Which broker offers a signup bonus?
- Which brokers offer a $1 (415 NGN) minimum deposit for investing in Conoil Stock?
- How to buy Conoil Stock as a beginner Nigerian trader?
- How many Conoil Stock should you buy?
- How many dividends does Conoil payout?
And lots more…
So if you’re ready to go “all in” with the Conoil Stock for Nigerians…
Let’s dive right in…
- Louis Schoeman
What is a Stock?
👉 Definition: a stock is a percentage of ownership in a company, such as Conoil, or a financial asset. Investors who hold shares of any company are known as shareholders.
How to Buy Conoil Stock in Nigeria (Updated 2023)
Step by Step on how to buy Conoil Stock in Nigeria
Step 1: Choose a reputable brokerage
👉 Through an online brokerage account, you may buy and sell stocks. Additionally, online brokerage accounts include a variety of research, educational tools, and account types to assist you in achieving your investment objectives.
👉 Long-term investors, such as those investing for their children’s school or retirement, may wish to pursue tax-advantaged vehicles, such as individual retirement accounts (IRAs).
👉 If you’re saving for a down payment on a house or accumulating wealth, a taxable brokerage account is a superior alternative. It’s a good idea to conduct some comparison shopping in order to determine which broker is the greatest fit for your needs in Nigeria.
Step 2. Decide how much you wish to invest in Conoil stocks
👉 If you do not have an emergency fund or retirement savings, you should set away some of that money. However, you may invest the remainder as you see fit.
👉 You may not want to purchase a complete share of CONOIL stock at first. In this scenario, you may wish to purchase a fractional share of that stock. These vintage share portions are available from various brokerages.
👉 When you are prepared, you can invest a significant sum of money at once or in small amounts over a lengthy period of time using dollar-cost averaging.
👉 Stock is purchased in fixed dollar quantities on a regular basis, typically monthly, regardless of the stock’s price. It reduces your risk and lowers your cost per share in the long run.
👉 Consider how CONOIL fits into your whole portfolio if you own other investments. Investors in Conoil should be aware of their other large-cap technology assets.
Step 3: Devise an investment plan
👉 Before making any stock purchases, carefully consider your investment objectives. Investing in large quantities of individual shares of any firm is always risky.
👉 Conoil’s stock may have a history of price volatility which makes it highly susceptible to external factors. While past performance is not indicative of future performance, you may encounter similar volatility in the future. Price swings should be considered when investing in Conoil stock.
Step 4: Do sufficient research on CONOIL stock
👉 Investing in a single business, especially if it is a household name such as Conoil, is an exciting idea, but investors in Nigeria must exercise prudence and conduct due diligence.
👉 As a starting point for your examination, review the annual and quarterly reports that publicly traded firms such as Conoil are required to file on a regular basis.
👉 These reports, referred to as earnings reports or quarterly earnings in the financial press, contain a plethora of information on a company’s performance and finances.
👉 Once you have gathered all of this information, you can determine whether or not Conoil is a sound investment.
Step 5: Determine the order type that you would like to place
👉 You can either request to purchase CONOIL stock at the best available price on your brokerage platform, or you can utilise more complicated order types, such as limit or stop orders, to acquire shares only when the stock price falls below a set level.
👉 If you place an order outside of the trading hours permitted by your brokerage, the purchase will also be fulfilled whenever trading resumes.
Step 6: Monitor the ongoing performance of your CONOIL stock purchase
👉 It’s prudent to monitor your investments and determine their performance. Annualized percent return is an excellent place to start when examining Conoil’s or any other company’s performance.
👉 You may compare your investment to other assets and determine how well it performed using particular benchmarks. Consider returning to the initial data and re-examining it to determine how the stock’s performance has altered over time.
Conoil Stock Overview for Nigerians
👉 Conoil Plc is a petroleum marketing company that specialises in the distribution of refined petroleum products, lubricants, household products, and liquefied petroleum gas for both domestic and industrial usage. It functions on the basis of the following sections: White products, lubricants, and liquefied petroleum gas are all examples of what we do.
👉 Among the products sold by the White Products section are premium motor spirit, aviation turbine kerosene, dual purpose kerosene, low-pour fuel oil, and vehicle gasoline or grease oil. The Lubricants section includes goods such as lubricants for transportation, lubricants for industry, greases, process oil, and bitumen.
👉 The Liquefied Petroleum Gas segment provides liquefied petroleum gas in bulk, liquefied petroleum gas in packaged form, cylinders, and valves, among other things. The corporation was established in 1960 and has its headquarters in the Nigerian city of Lagos.
Overview
👉 If you want to grow your money in Nigeria while also keeping up with inflation, you must invest regularly. Money’s purchasing value eventually erodes as a result of inflation. In the absence of proper investment, the value of your monthly income savings will continue to depreciate day by day.
👉 Because of technology advancements, it has never been easier to invest in Nigerian stock markets in the past. You should be aware that the Nigerian stock market has the potential to provide significant gains over the medium to long term if you are thinking about making a purchase on the stock market in Nigeria.
👉 When a significant number of people interested in buying and selling stocks come together, communicate, and execute transactions, the stock market is known as a stock exchange or stock market. The determination of business share values is made possible through the use of stock markets, which also serve as an economic barometer.
👉 Participants on the stock market compete for the best price, which ensures that the market is always accessible to new investors and that a high level of liquidity is maintained on the market.
👉 This means that market participants can trade stocks and other eligible financial items on stock exchanges with total confidence and minimal to no operational risk. The stock markets serve as both primary and secondary markets, depending on the regulator’s specifications.
👉 IPOs (initial public offerings) enable companies to sell their equity for the first time to the general public via the stock market.
👉 This activity assists businesses in securing funding from a variety of sources. A division of a corporation (say, into 20 million shares) and the sale of a portion of those shares (say, 5 million shares) to the public at a price (say, $10 per share) would be an example of this.
👉 A market for these shares is required for a business to make this process more efficient. The stock market facilitates this type of trade.
👉 Investors will receive the company’s stock, which they may hold for a specified amount of time in anticipation of a share price increase and dividend payments. Companies and their financial partners compensate the stock exchange for the facilitation of this capital-raising process.
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👉 Conoil’s stock is one of the most prominent on the market today. Continue reading to understand how to purchase Conoil stock in Nigeria.
Pros and Cons of Buying Conoil Shares
👉 Conoil Plc is a Nigeria-based firm that engages in the marketing of refined petroleum products, the manufacturing and marketing of lubricants, the distribution of residential and industrial gas, and the distribution of liquefied petroleum gas. White goods, lubricants, and liquefied petroleum gas are the three segments in which the company operates (LPG).
👉 Among the items sold by the White products section are premium motor spirit (PMS), aviation turbine kerosene (ATK), dual purpose kerosene (DPK), low-pour fuel oil (LPFO), and automobile gasoline and grease oil (AGO). Under the lubricants section, there are several goods, including lubricants for transportation, lubricants for industry, greases, process oil, and bitumen.
👉 Liquefied petroleum gas in bulk, liquefied petroleum gas in packaging, cylinders, and valves are some of the products sold in the LPG industry.
👉 Conoil PLC increased revenues by 7.88 percent year on year, from 117.47 billion to 126.73 billion, while net income increased by 114.05 percent, from 1.44 billion to 3.08 billion.
| ✔️ Pros | ❌ Cons |
| CONOIL price reached a new 52-week high of 28.60 on 29 April 2023 | Earnings have declined by 6.3% per year over past 5 years |
| PE ratio (5.9x) is below the NG market (8.8x) | High level of non-cash earnings |
| Earnings grew by 114% over the past year. | Dividend of 9.54% is not well covered by earnings |
| Does not have a meaningful market cap (NGN18B). |
Should You Invest in Conoil in 2023?
👉 It has been stated by Conoil Plc that it intends to maintain its leadership position in the downstream petroleum business by increasing the returns on its investment.
👉 However, although acknowledging the difficulties that lie ahead in light of the current status of the nation’s economy, the corporation expressed confidence that it will work hard to retain profitability.
👉 In his address to the shareholders at the meeting, the chairman stated that the company was fully charged with consolidating its competitiveness in the various segments of its business by exploring and developing emerging markets while maintaining its position in areas where it has a competitive advantage.
👉 His company intends to build on the success established in past years to deliver a strong and sustainable performance that will increase returns to shareholders, he explained.
👉 Conoil Plc’s unaudited financial results and records for the period ending December 31, 2021 revealed a minor increase in revenue, which was impacted by a price adjustment in white items.
👉 In terms of reportable segments, the petroleum marketing company has divided itself into three categories: white products; lubricants; and liquefied petroleum gas (LPG).
👉 High-quality motor spirits (PMS), aviation turbine kerosene (ATK), dual-purpose kerosene (DPK), low-pour fuel oil (LPFO), and automotive gasoline and grease oil are all sold by the white products section (AGO).
👉 The Lubricants section includes goods such as lubricants for transportation, lubricants for industrial use, greases, process oil, and bitumen. Liquefied petroleum gas – bulk, Liquefied petroleum gas – packed, cylinders, and valves are among the products traded in the LPG section of the market.
👉 When comparing December 2020 to December 2021, the National Bureau of Statistics (NBS) reports that the average price paid by customers for PMS grew by 0.04per cent on a year-on-year basis to N165.77 in December 2021 when comparing December 2020 to December 2021.
👉 Customers’ average retail price of Automotive Gasoil climbed by 28.97 percent year on year, from a lower cost of N224.37 per litre recorded in the same month the previous year to a higher cost of N289.37 per litre in December 2021, according to data from the Bureau of National Statistics.
👉 Conoil’s revenue from the sale of petroleum products increased by over eight percent to N126.7 billion in unaudited data for 2021, compared to the N117.47 billion reported in 2020.
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Best Brokers for Buying Conoil Shares in Nigeria
Exness
Overall Rating
- 4.9/5
Total Pairs
97
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Exness is considered a low-risk broker and can be summarised as a trustworthy and reliable market making broker for buying Amazon stock in Nigeria. Regarding spread and security, Exness guarantees fast trading speeds from a few milliseconds when buying Amazon stock in Nigeria. In terms of users, Exness has over 204 000 registered clients in the UK.
FXTM
Overall Rating
- 4.6/5
Min Deposit
USD 10 / 4145 NGN
Regulators
CySec, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, FXTM is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for buying Amazon stock in Nigeria. Regarding spread and security, FXTM guarantees fast trading speeds from a few milliseconds when buying Amazon stock in Nigeria. In terms of users, FXTM has over 4 million registered clients around the world.
XM
Overall Rating
- 4.5/5
Min Deposit
USD 5 / 2 075 NGN
Regulators
IFSC, CySec, ASIC
Trading Desk
Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform
Crypto
No
Total Pairs
57
Islamic Account
Yes
Trading Fees
No (Just spread)
Account Activation Time
24 Hours
👉 Overall, XM is considered a low-risk broker and can be summarised as a trustworthy and reliable market making broker for buying Amazon stock in Nigeria. Regarding spread and security, XM guarantees fast trading speeds from a few milliseconds when buying Amazon stock in Nigeria. In terms of users, XM has over 5 million registered clients around the world.
Tickmill
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 41450 NGN
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Tickmill is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for buying Amazon stock in Nigeria. Regarding spread and security, Tickmill guarantees fast trading speeds from a few milliseconds when buying Amazon stock in Nigeria. In terms of users, Tickmill has over 38 000 registered clients in the UK.
Pepperstone
Overall Rating
- 4.1/5
Min Deposit
USD 10 / 4145 NGN
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradingView
Crypto
No
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Trading margined products carries a high level of risk. Pepperstone Markets Kenya Limited, CMA Licence No. 128
👉 Overall, Pepperstone is considered a low-risk broker and can be summarised as a trustworthy and reliable agency-execution broker for buying Amazon stock in Nigeria. Regarding spread and security, Pepperstone guarantees fast trading speeds from a few milliseconds when buying Amazon stock. In terms of users, Pepperstone has over 8000 registered clients in the UK.
Broker Comparison
| 🥇 Exness | 🥇 FXTM | 🥇 XM | 🥇 Tickmill | 🥇 Pepperstone | |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA | CySEC, FSCA, FCA, FSC Mauritius | FSCA, IFSC, ASIC, CySEC, DFSA | FSA, FCA, CySEC, Labuan FSA, FSCA | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app | MetaTrader 4, MetaTrader 5, FXTM Trader | MetaTrader 4, MetaTrader 5, XM Mobile App | MetaTrader 4, MetaTrader 5 | • MetaTrader 4, • MetaTrader 5, • cTrader, • TradingView, • Myfxbook, • DupliTrade |
| 💰 Withdrawal Fee | No | Yes | No | No | No |
| ✔️ Demo Account | Yes | Yes | Yes | Yes | Yes |
| 📈 Min Deposit | 41,000 Naira | 10,000 Naira | 2,000 Naira | 41,500 Naira | 60,700 Nigerian Naira |
| 📊 Leverage | 1:2000 | 1:1000 | 1:888 | 1:500 | 1:200 |
| 💸 Spread | From 0.0 pips EUR/USD | From 0.0 pips | From 0.0 pips | From 0.0 pips | From 0.0 pips |
| 💳 Commissions | $3.5 on Zero Account | Yes, variable | USD7/100 000 | 2 per side per 100,000 traded | USD 0.04 (USD 0.08 round turn) |
| 🛑 Margin Call/Stop-Out | None | 40% | 50% | 100%/30% | 50%/0% |
| 📲 Order Execution | None | Market | Instant | Instant | Instant |
| 💰 No-Deposit Bonus | No | Yes | Yes | Yes | No |
| 💳 Cent Accounts | Yes | Yes | Yes | No | No |
| 💻 Account Types | • Standard Account, Standard Cent Account, • Raw Spread Account, • Zero Account, Pro Account | • Micro Account, • Advantage Account, • Advantage Plus Account | • Micro Account, Standard Account, XM Ultra-Low Account, Shares Account | • Pro Account, Classic Account, • VIP Account | • Standard account, • Razor Account, • Professional Account, |
| ⚖️ CBN Regulation | No | No | No | No | No |
| 💰 NGN Deposits | Yes | Yes | Yes | No | Yes |
| ✔️ Nigerian Naira Account | Yes | Yes | No | No | No |
| 📞 Customer Service Hours | 24/7 | 24/5 | 24/5 | 24/5 | 24/7 |
| 🛍 Retail Investor Accounts | 5 | 2 | 4 | 1 | 2 |
| ☪️ Islamic Account | Yes | Yes | Yes | Yes | Yes |
Best Mobile Apps to buy US Stocks in Nigeria
👉 As a Nigerian, it used to be quite difficult to acquire and invest in international securities. However, Nigerians can now invest in the stock market using their smartphone, tablet, iPad, or computer, attributed to technology progress and advancement.
Leadtrader
👉 Leadtrader is well-known in Nigeria for having the lowest brokerage costs, with charges as low as 0.75 percent in some situations. When you authorise them to trade on your behalf, the commission can increase to 1.35 percent of the total.
Investnow.ng
👉 This software provides a comprehensive internet trading environment for Nigerians. Additionally, it provides new investors with frequent stock recommendation choices, as well as a number of services such as dividend management, certificate administration, and registrar handling.
Ameritrade
👉 Meristem securities owns this programme, which provides traders with a secure environment from which to trade utilising their mobile phones. Additionally, it offers a wide portfolio of enterprises with assets in both the domestic and foreign markets.
Rise
👉 Rise is more than a stock trading app; it might be considered a global asset management organisation. It provides you with dollar-denominated assets in which you can invest and see your money grow in value.
👉 As a result of this arrangement, a professional fund manager trades on your behalf. Additionally, you can invest in real estate, fixed assets, or stocks.
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🛡️ Trust Score
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- Time to open Account – Only 12 Hours
- Low Commissions
- Invest in any Top 40 Share
RECOMMENDED JSE BROKER
🛡️ Trust Score
97%
Avatrade – #1 JSE Trading Platform
- Time to open Account – Only 12 Hours
- Low Commissions
- Invest in any JSE Top 40 Share
Frequently Asked Questions
Can I buy stock directly from Conoil?
No, Conoil stock should be bought through a stockbroker in Nigeria, whether it is offshore or based locally, as this stock can be purchased online through your selected broker.
Is Conoil stock a good buy in 2023?
Most analysts consider Conoil stock to be a good growth investment in 2023 for investors in Nigeria and elsewhere. That said, a. general rule is not to have more than 10% of your total portfolio in one stock.
What is the best way to buy Conoil stock?
To buy Conoil stock, investors in Nigeria should take the following steps:
- Choose a reputable stockbroker
- Decide on your investment amount
- Set up an investment plan
- Do enough research on you Conoil stock
- Determine the order type
- Continue to monitor the performance of your Conoil stock.
