Business Confidence Index surged to 28.9points in August 2025
The Central Bank of Nigeria’s (CBN) Business Expectations Survey for August 2025 paints an encouraging picture of Nigeria’s economic trajectory, signaling renewed optimism among business operators. According to the report, the Business Confidence Index surged to 28.9 index points in August 2025, up from 21.4 index points recorded in July 2025 — a clear indication of growing optimism in the nation’s macroeconomic outlook.
All sectors surveyed expressed positive sentiments toward the business environment, with the Services sector leading the pack at 29.7 index points, followed closely by Industry at 28.5 index points and Agriculture at 27.1 index points. The survey also projects that this upward momentum will likely persist in the coming months. Over the next six months, expectations remain bright, with Industry anticipated to climb to 59.9 index points, Services to 55.1 index points, and Agriculture to 52.8 index points. Such forecasts underscore a broad-based belief in the continued resilience and recovery of the Nigerian economy.
Further supporting this sentiment is the Business Confidence Index (BCI), which captures sectoral performance outlooks. The report shows that Mining and Quarrying leads the confidence chart with 21.1 index points, followed by Agriculture at 17.5 index points, Non-Market Services at 16.8 index points, Market Services at 16.7 index points, Manufacturing at 8.5 index points, and Construction at 2.0 index points. Collectively, these figures highlight a consistent wave of optimism spreading across industries, suggesting that most businesses anticipate stronger performance and improved profitability in the near term.
However, despite these encouraging signs, the report also reveals persistent structural challenges that continue to weigh on business operations. The top three obstacles identified by respondents include Insecurity (71.2%), Insufficient Power Supply (69.5%), and High Interest Rates (68.6%). These issues remain significant impediments to productivity, cost efficiency, and business expansion.
