April 07, (THEWILL) — Nigeria’s business environment remained in expansion territory in March 2026, but momentum weakened significantly as economic pressures intensified.
This is according to the latest Business Confidence Monitor (BCM) released by the Nigerian Economic Summit Group (NESG), which showed the Current Business Performance Index fell to 101.2 points in March from 117.2 points in February.
Although the index stayed above the 100-point threshold that signals expansion, the steep decline reflects mounting strain across key sectors. On a year-on-year basis, performance was also softer than the 106.6 points recorded in March 2025, indicating a slowdown in growth pace.
Sectoral data points to a broad-based moderation. Manufacturing dropped to 103.4 points from 121.1, while Trade declined to 103.8 points from 108.7. Services posted 104.7 points, maintaining growth but at a slower rate.
Meanwhile, non-manufacturing and agriculture slipped into contraction at 98.4 points and 91.1 points, respectively.
The figures suggest a fragile and uneven operating environment, with declining output and demand pressures evident across several industries.
Businesses continue to grapple with structural constraints, including limited access to financing, unreliable power supply, rising rental costs, input shortages, and insecurity. These challenges are weighing on productivity and investment decisions.
NESG also flagged growing concerns about weakening investment sentiment and the outlook for future economic growth, as persistent macroeconomic headwinds threaten to further dampen business confidence.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
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