Insecurity and erratic power supply have again been identified as the most critical obstacles facing Nigerian businesses, according to the latest Central Bank of Nigeria’s Business Expectations Survey for October 2025.
The report revealed that firms across major sectors ranked insecurity highest at 71.8 points, followed closely by insufficient power supply at 70.9 points, high or multiple taxes at 70.2 points, high interest rates at 68.4 points, and financial problems at 65.6 points.
“Respondents identified Insecurity (71.8), Insufficient Power Supply (70.9), High/Multiple Taxes (70.2), High Interest Rate (68.4), and Financial Problems (65.6) as the top five business constraints in October 2025, highlighting factors that directly impact operational stability and profitability,” the report stated.
Other major constraints highlighted by businesses included high bank charges (64.7), an unfavourable economic climate (63.0), and unclear economic laws (62.3).
Poor infrastructure (58.7) and an unfavourable political climate (57.5) were ranked lowest among the ten leading challenges.
The apex bank observed that “business constraints were more focused on financial factors than political challenges,” indicating that firms were more troubled by economic pressures than by political instability.
