NESG Reports Record Business Activity in Nigeria for 2026

In September 2026, Nigeria's business activity surged to a record 117.8 points, surpassing the previous high of 117.2 points recorded in February, as reported by the Nigerian Economic Summit Group (NESG). The Business Confidence Monitor indicated that the composite Current Business Performance Index rose from 112.7 points in August 2026 and 107.9 points in September 2025.

While the expansion was broad-based, the Manufacturing and Services sectors experienced slower activity compared to August, with Trade showing the strongest performance, increasing its index to 128.5 points. Most sub-indices remained in expansion territory, and the investment index returned to expansion after months of contraction.

However, the Cost of Doing Business and Prices sub-indices remained below the neutral threshold, indicating ongoing high operating costs. The NESG Future Business Expectation Index was at 128.9 points, reflecting cautious optimism about future business conditions.

Persistent cost pressures and constraints in finance, power, infrastructure, and security continue to challenge business activity and investment.