NESG says business confidence rising despite soaring costs

•But warns energy prices, credit squeeze threaten outlook

By Babajide Komolafe

Nigeria’s business environment recorded stronger expansion in July 2026 despite rising operating costs, but the Nigerian Economic Summit Group, NESG, has warned that surging energy prices, limited access to credit and other structural constraints could threaten the sustainability of the recovery.

Presenting its August 2026 Business Confidence Monitor, BCM, report, the NESG said: “Nigeria’s business environment recorded stronger expansion in July 2026. The overall Current Business Performance Index stood at 108.6 points, up from 104.6 points in June 2026 and 105.4 points in July 2025. This was driven by broad-based expansion across subsectors led by Non-Manufacturing.”

On the note of caution the group stated: “Key constraints persisted, especially limited access to finance, energy shortages, high rental costs, insecurity, and infrastructural challenges during the month.”