Nigeria’s business-performance reading declined in October, though sectors remained in expansion, as the Nigerian Economic Summit Group (NESG) said firms faced power outages and other cost pressures.
The Current Business Performance Index stood at 115.4 points in October 2026, down from 117.8 in September 2026. It was higher than the 111.3 points recorded in October 2025.
Trade and Services were the only sectors to improve from September. Agriculture, Manufacturing and Non-Manufacturing slowed, NESG said.
The group cited limited access to finance, power outages, high rents, infrastructure challenges and insecurity as pressures that added to business costs. Its update did not assign a specific share of those pressures to electricity.
NESG says its Business Confidence Monitor surveys businesses about current conditions and their near-term activity outlook. The index reflects survey responses and does not by itself establish a change in national output.
