Nigerian businesses show optimism despite challenges
Nigerian businesses are displaying renewed confidence as they look forward to 2026. The latest survey by the Central Bank of Nigeria reveals that firms remain upbeat, even while grappling with insecurity and high taxes. The report highlights strong optimism across industry, services, and agriculture, with expectations of expansion and increased hiring. Despite ongoing obstacles, businesses are focused on growth and a more stable economic future.
TLDR
- The December 2025 Business Expectations Survey Report by the Central Bank of Nigeria shows a surge in business optimism, with the Confidence Index at 37.5 points in December and projected to reach 52.5 in the next six months.
- The survey, conducted from 1 to 5 December 2025 with 1,900 businesses, found industry leading sectoral confidence at 38.7 index points.
- All sectors, including agriculture and services, reported positive sentiment for the macroeconomy, with hiring plans anticipated for January 2026.
- Insecurity (74.0 points), high taxes (69.9 points), insufficient power supply (67.9 points), and high interest rates (67.5 points) remain key operational threats.
- Regional optimism varies, with the North-East highest at 51.5 index points and the South-East lowest at 27.9, but all zones expect positive business conditions ahead.
