Nigeria's Business Confidence Declines to 101.2 in March 2026

The Nigerian Economic Summit Group (NESG) reported a decline in business confidence, with the Business Performance Index falling to 101.2 points in March 2026 from 117.2 points in February 2026. Although the index remains above the 100-point threshold indicating expansion, this sharp drop highlights increasing pressures across key sectors of the economy.

Compared to March 2025, when the index was at 106.6 points, the current figures suggest a weakening pace of growth amid structural and macroeconomic challenges. The report indicates a broad-based slowdown across sectors, with modest expansion recorded in key segments.

Businesses are facing persistent challenges, including limited access to finance, erratic power supply, rising rental costs, input shortages, and insecurity, which continue to constrain productive investment. Additionally, rising global oil prices due to geopolitical tensions are further shaping cautious business sentiment.

Despite a sustained expansion pace, the Central Bank of Nigeria (CBN) reports signs of moderation amid ongoing macroeconomic pressures.