Manufacturing Sector Sees Strong Growth in August 2026

The Business Confidence Monitor (BCM) report from the Nigerian Economic Summit Group (NESG) revealed that the manufacturing sector in Nigeria recorded its strongest business performance in August 2026. The Current Business Performance Index (CBPI) for the overall business environment rose to 112.7 points, an increase from 108.6 in July 2026 and 107.3 in August 2025.

The manufacturing sector's CBPI surged to 120.4 points from 110.5 in July 2026, marking a significant improvement from 106.2 points in August 2025. Key subsectors contributing to this growth included Food, Beverage & Tobacco and Chemical & Pharmaceutical Products.

However, industry players faced constraints such as inadequate power supply, limited financing, elevated rental costs, insecurity, and infrastructural challenges. While most subsectors showed expansion, electrical and electronics slipped into contraction.

The agriculture sector's CBPI slightly declined to 110.5 points from 110.8 in July 2026 but was significantly higher than 95.6 points in August 2025, reflecting resilience despite challenges.