Use a locking nut on it so it can be adjusted for proper shifter tension without overtightening it (as you would have to with a regular nut) and you should be good to go.
The original nuts were the crimped steel type (some call them C-nuts I think?) but their tension loosens over time (like 40 years worth) but you can use a standard off-the-shelf Nyloc nut with no problem.
Oh, and there are, or were, a pair of those plastic split bushings that look like the ones for the tire carrier and brake pedal pivots in the bore too. Look to see if there are any left or if they've worn to dust.
They're not 100% necessary, but if your pivot bolt is a loose fit, it'd be a nice detail to replace the bushings.
Paul