Not sure on the size of the nuts...but always keep your shaft greased!!! BWAHAHAAA
In all seriousness keep the splines and exposed shaft greased to keep corrosion to a minimum.
Does not matter if it is a 4 horse outboard or a number 6. I ran my 2.5 outboard without grease beacause it was messy...that led to corrosion, then a cracked shaft and a thrown $750 prop in the bottom of the lake...also a wrecked lower unit.