Nigeria’s business environment strengthened further in October 2025 as the nation’s Business Confidence Index rose to 111.3 points, building on the 107.9 recorded in September.
The latest NESG–Stanbic IBTC Business Confidence Monitor shows improving sentiment across the private sector, driven by easing inflation, better foreign exchange stability, and growing optimism about economic prospects.
The News Chronicle gathered that operators across major industries are beginning to see more predictable market conditions, encouraging increased production, hiring, and investment after months of macroeconomic uncertainty.
According to the report, current business performance remained solidly in expansion territory, marking a sharp improvement from the 76.8 points recorded in the same period of 2024. Analysts say the year-on-year jump reflects a more resilient operating environment and stronger expectations for sustained recovery.
Uniform growth was seen in all five main economic categories based on sectoral data. Leading the gains were manufacturing and trade, which increased by 8.8 and 7.8 points to 111.3 and 115.4, respectively. Driven by improved seed kinds, focused government projects, reduced cost burdens, and incremental FX stability, the Agriculture Index rose to 111.4 points. But farmers still have raw material deficits, escalating feed costs, and disease outbreaks.
Following a preceding month of decline, manufacturing saw a strong recovery with significant gains in the cement sector as well as the food, beverage, and tobacco sectors. For the increase, companies gave a more trustworthy power source, better access to funding, and steadier FX market credit.
Though certain sub-sectors showed slower growth, pointing to a cautious recovery phase, the services industry also grew little, to 111.0 points.
The report emphasized the importance of further reforms in stabilizing the economy, increasing credit access, reinforcing infrastructure, and strengthening security—elements it claims are essential for maintaining confidence.
Earlier Nairametrics data revealed the PMI of the private sector to have risen to 56.4 in November, suggesting greater development across economic sectors and supporting Nigeria’s upward economic path toward 2026.
