Nigeria's Business Performance Index Hits 112.7 in August 2026

In August 2026, Nigeria's business environment expanded, as indicated by the Composite Current Business Performance Index (CBPI), which rose to 112.7 points from 108.6 points in July. This figure surpassed the 107.3 points recorded in August 2025 and marked the highest level since February 2026, when it was 117.2 points.

The expansion was broad-based, with the manufacturing sector showing the strongest performance, while agriculture remained stable. However, non-manufacturing experienced a slowdown compared to July.

The Nigerian Economic Summit Group (NESG) reported that key components of the Business Confidence Monitor remained in expansion territory, driven by sectors such as Food, Beverage & Tobacco and Chemical & Pharmaceutical Products. Despite this growth, manufacturers faced challenges including high operating costs due to unreliable power supply, raw material shortages, expensive rents, and limited access to financing.

Additionally, the NESG Future Business Expectation Index rose to 129.3 points in August from 128.3 points in July, indicating positive business expectations.