Nigeria’s business environment sustained its expansionary momentum in February 2026, as the Nigerian Economic Summit Group Business Confidence Monitor Current Business Performance Index climbed to a record 117.2 points.
The figure marks a sharp increase from 105.8 points recorded in January and 111.5 points in February 2025, signalling significantly improved business conditions across the country.
Okay News reports that the February BCM report indicates broad-based growth across all five major sectors of the economy, supported by recovering demand conditions and improved operational performance. Non-manufacturing led the expansion with its index rising to 128.9 points from 115.3, while manufacturing increased to 121.1 points from 115.8 in January.
Services improved to 109.2 points from 102.1, trade rebounded strongly to 108.7 points from 92.7, and agriculture climbed to 104.8 points from 99.5. Agriculture returned to expansion driven by improvements in crop production and recovery in livestock and agro-allied activities. Manufacturing growth was supported by strong performances in food, beverage and tobacco; chemical and pharmaceutical products; and pulp and paper products.
Despite overall gains, structural challenges such as insecurity, infrastructure gaps, limited access to financing, and high operating costs continue to weigh on certain sectors. Business optimism for the near term remains strong, with the NESG Future Business Expectation Index standing at 135.5 points in February, up from 124.7 points in January. Manufacturing recorded the highest optimism at 164.3 points, followed by trade at 163.1 points. This business confidence surge reflects improving economic conditions and positive expectations across major sectors of the economy.
