If the pump has an air intake hole (near top of cylinder) add a drop there, and pump a few times rotting the handle to spread it around.
Many pumps don't have intake holes and the intake is the gap between piston rod (runs up to handle) and the guide bushing at the top of the pump. On these pull the handle up, add a drop between it and the bushing, then when you push the handle down it'll draw the oil in with the air. Again, pump a few strokes rotating the handle to spread it evenly.
Do not over oil your pump, it just pushes out extra oil with the air going into your tires.
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