Nigeria’s business environment strengthened further in August 2026, with the Nigerian Economic Summit Group’s (NESG) Current Business Performance Index (CBPI) climbing to 112.7 points, up from 108.6 points in July and well above the 107.3 points recorded in August 2025.
The reading marked the strongest performance since February 2026, when the index hit 117.2 points after opening the year at 105.8 points in January.
Growth was broad-based across the economy, though uneven: Manufacturing posted the sharpest gains, Agriculture held largely steady, while Non-Manufacturing activity cooled from July’s pace.
According to NESG, most components of its Business Confidence Monitor stayed in expansion during the month.
General business conditions, demand, exports, financial results, credit access, cash flow and employment all improved on July’s numbers, while production, operating profit and new orders remained positive, albeit slightly softer.
Investment stayed in contraction territory but showed signs of improvement, and the trade stockpiling index jumped as businesses built up inventory ahead of the back-to-school shopping season amid resilient consumer demand.Cost pressures, however, remain a drag.
