Business confidence hits one-year high on rate cut, bank recapitalisation drive

Nigeria’s business confidence rose to its strongest level in more than a year in February 2026, driven by expectations of lower borrowing costs and optimism that the ongoing bank recapitalisation programme will strengthen credit availability to businesses.

Data from the Nigerian Economic Summit Group (NESG) Business Confidence Monitor (BCM) shows that the current business performance index rose to 117.2 points in February 2026, up from 105.8 points in January and 111.5 points in February 2025, signalling improved business conditions across the economy.

The report stated that the improvement reflects stronger activity in the manufacturing and non-manufacturing sectors, alongside easing cost pressures and improving demand conditions.