CBN Reports Power Shortages, Insecurity as Major Business Challenges

According to a report released by the Central Bank of Nigeria (CBN) on March 9-13, 2026, power shortages and insecurity are identified as the most significant challenges for businesses, with power supply scoring 74.5 and insecurity 70.9 on the constraint index. Other constraints include high multiple taxation (69.2), elevated interest rates (66.6), and financial challenges (64.3).

The CBN noted that these constraints directly affect operational stability and business performance. Despite these challenges, firms expressed optimism about future economic conditions, with an overall confidence index of 15.6 points in March, although slightly lower than the previous month.

The Northeast region showed the strongest optimism at 39.4 points, while the Southeast recorded the weakest at 5.5 points. The mining and quarrying sector indicated the highest employment prospects, with plans to increase hiring in April 2026.

The survey covered 1,900 firms across various industries, with a response rate of 99.7%.