Bargain Hunting in a Bleeding NGX: 5 Stocks to Accumulate This Week

In a week when the NGX has shed trillions in value and bearish sentiment dominates, disciplined investors are better served accumulating quality blue chips than panicking out of positions. A brutal sell‑off has dragged the All‑Share Index to fresh November lows, but the underlying earnings strength of leading telecoms, banks, cement, and energy companies remains intact, turning fear into an opportunity for selective buying.

The current downturn is driven less by collapsing fundamentals and more by year‑end portfolio rebalancing, foreign flows repositioning, and broad risk aversion across sectors. Market breadth has been deeply negative, with decliners heavily outnumbering gainers and even large‑cap names like TRANSCORP and major banks seeing sharp price pressure. For a patient investor, this type of indiscriminate selling often sets up attractive entry points into companies whose cash flows, dividends, and competitive positions remain strong despite short‑term price weakness.

Against this backdrop, five stocks stand out as candidates to buy gradually during the week: MTN Nigeria (MTNN), Dangote Cement (DANGCEM), Zenith Bank (ZENITHBANK), GTCO, and Seplat Energy (SEPLAT). MTN, Nigeria’s largest telecom operator, has resumed dividends with a ₦5 per share payment in November 2025, supported by over 70 million subscribers and a massive profit after tax, making current dips more about sentiment than business deterioration. Dangote Cement, long viewed as a dividend “aristocrat”, continues to deliver robust earnings and sizeable payouts, giving investors both income and a hedge against inflation through its pricing power in cement.

The banking sector, although under selling pressure, still anchors the market’s earnings and dividend engine. Zenith Bank offers double‑digit dividend yields alongside strong profitability and remains one of the most fundamentally sound financial institutions on the exchange. GTCO, with its diversified financial services model, combines healthy dividends with growth optionality in payments and asset management, meaning current weakness may underprice its medium‑term earnings power.

Finally, Seplat Energy provides exposure to Nigeria’s upstream oil and gas story, with one of the largest overall dividend payouts in 2025 and significant cash generation from higher‑margin production. In a risk‑off environment, energy cash flows and dollar‑linked revenues can help stabilise a portfolio tilted toward naira earnings, especially when the stock is dragged down by general market fear rather than company‑specific collapse.

For this week, scaling into these five names in small tranches—rather than going all‑in at once—allows participation in potential rebounds while respecting the reality that volatility may persist as November’s sell‑off plays out.

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