Nigeria’s Business Performance Index (BPI) rose to 107.3 points in August, up from 105.4 in July, marking the eighth month of expansion, according to the NESG–Stanbic IBTC Business Confidence Monitor.
Trade (114.1), non-manufacturing (116.2), manufacturing (106.2), and services (103.7) all posted growth, but agriculture slipped to 95.6, dragged down by poor rainfall, insecurity, and rising input costs.
Despite stronger performance, firms continue to struggle with limited access to finance, high costs, unreliable power, and policy uncertainty.
Looking ahead, optimism is rising: the Future Business Expectation Index climbed to 131.5 in August, suggesting businesses expect policy tweaks, infrastructure projects, and stable exchange rates to lift growth.