Business Performance Index climbs to 113.3pts, as trade drives expansion —NESG report

By Babajide Komolafe

Nigeria’s business confidence continued its upward trajectory, as the Business Performance Index rose to 113.3 points in November, up from 111.3 points in October, according to the latest report of the Nigeria Economic Summit Group (NESG) Business Confidence Monitor (BCM).

The report stated: “Nigeria’s business environment maintained its expansionary trajectory in November 2025, marking eleven consecutive months of favourable operating conditions.

“The NESG Business Confidence Monitor (BCM) business performance index increased marginally to 113.3 points, up from 111.3 points in October 2025 and 97.3 points in the corresponding period of 2024. This steady improvement reflects a combination of sectoral gains, driven particularly by strengthened performance across key sectors and a notable surge in activity within the Trade sector.

“A sectoral breakdown shows that all five major economic activities remained in the expansion region during the month. The Trade sector recorded the most substantial increase, rising by 71.1 points to 186.5 index points. Non-Manufacturing (117.0), Manufacturing (114.2), Services (105.8), and Agriculture (103.3) also expanded, though at a more moderate pace compared to November 2024.

“Key BCM sub-indices – including general business situation, production, financial conditions, supply orders, trade stockpiling, access to credit, and cash flow-posted modest improvements relative to October 2025. These gains point to a more positive outlook for capital formation and external trade.

“During the month, the cost of doing business declined, while input prices continued to rise, albeit at a slower pace. Both developments signal a gradual easing of inflationary pressures on firms and business operations.

“However, persistent financing constraints, high commercial property costs, unclear policy signals, unreliable power supply, and ongoing insecurity remained the most significant challenges, dampening business performance and confidence during the month.”

The post Business Performance Index climbs to 113.3pts, as trade drives expansion —NESG report appeared first on Vanguard News.