Nigerian businesses struggle with power and security issues, CBN survey finds
Businesses across Nigeria highlighted inadequate electricity and insecurity as their main operational challenges, according to the latest survey by the Central Bank of Nigeria. The Business Expectations Survey, conducted in March 2026, covered 1,900 firms and revealed that, despite these obstacles, companies remain optimistic about the economy. The confidence index for March 2026 stood at 15.6 points, with projections of increased optimism over the next six months. The report also noted regional differences, with the North-East showing the highest optimism and the South-East lagging behind.
TLDR
- The CBN survey found that insufficient power supply and insecurity were the top business constraints in March 2026.
- The survey, conducted between March 9 and 13, 2026, involved 1,900 firms and reported a 99.7% response rate.
- Despite challenges, businesses showed a positive outlook, with a confidence index of 15.6 points in March 2026 and expectations of higher optimism in the next six months.
- The North-East region recorded the highest optimism at 39.4 index points, while the South-East had negative sentiment at –5.5 points.
- Firms plan to increase hiring in April 2026, with the Mining and Quarrying sector showing the highest employment prospects.
