Manufacturing recovery lifts Business Confidence Index to 104.6pts — NESG

Nigeria's business confidence saw a notable improvement in May 2026, with the Nigerian Economic Summit Group (NESG) reporting the Business Confidence Index rose to 104.6 points. This uptick signals a more optimistic outlook among businesses operating within the country.

The primary drivers behind this enhanced confidence are a strong recovery observed in the manufacturing sector and robust consumer demand. These factors suggest a growing economic activity and a positive response from consumers, despite ongoing economic challenges.

However, the NESG's latest Business Confidence Monitor also highlighted that persistent cost pressures continue to affect businesses. While the overall sentiment has improved, companies are still navigating the difficulties associated with rising costs, indicating a complex economic landscape.

The report, based on the NESG Business Confidence Monitor, indicates that the Current Business Performance Index reflects this positive trend. The recovery in manufacturing and strong consumer spending are key indicators of economic resilience, even as businesses grapple with inflationary challenges.