NESG BCM: Nigerian businesses maintain expansion amid supply and cost pressures
Orisemeke Benjamin
Nigeria’s business environment maintained its expansionary momentum in June 2026, though persistent operational headwinds capped overall growth potential.
According to the latest Business Confidence Monitor (BCM) released by the Nigerian Economic Summit Group (NESG), the Current Business Performance Index held steady at 104.6 points, unchanged from May 2026. However, this figure reflects a notable year-on-year retreat from the 113.6 points recorded in June 2025.
Sectoral performance across the month proved uneven. While Manufacturing (106.4) and Trade (102.0) sustained expansion, both clusters posted weaker month-on-month metrics. Conversely, Agriculture (103.9) and non-manufacturing (106.8) rebounded into growth territory, offsetting a contraction in the Services sector, which slid to 98.5 points.
Core tracking indicators—including production volume, demand conditions, and operating profits—remained positive, with over half improving against May. Yet, structural bottlenecks continue to threaten this resilience. The NESG noted that while overall operating costs showed minor moderation, firms remain heavily constrained by elevated input prices, limited credit access, power outages, and supply chain disruptions.
