Nigeria’s Business Confidence Index rose to a record 117.2 points in February 2026, up from 105.8 in January, according to the Nigerian Economic Summit Group. The report describes the figure as the highest reading on record and a sign of strong economic expansion.
The Current Business Performance Index showed improved conditions nationwide. The non-manufacturing sector led growth at 128.9 points, while manufacturing increased to 121.1. Services rose to 109.2, trade recovered to 108.7, and agriculture returned to expansion at 104.8 points.
The Future Business Expectation Index, which measures firms’ outlook for the next three to six months, climbed to 135.5 points from 124.7 in January. Manufacturing and trade companies reported particularly strong expectations for further activity.
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Despite the positive trend, businesses cited infrastructure gaps, security concerns, limited access to affordable financing, and high operating costs as continuing challenges. Analysts say the record confidence level aligns with other indicators showing a recovery in private sector activity at the start of 2026.
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