Businesses in Nigeria identified high or multiple taxation, insecurity and high interest rates as the top three constraints they faced in July, according to the latest Business Expectations Survey (BES) released by the Central Bank of Nigeria (CBN).
In the July BES report, the apex bank said businesses remained optimistic despite perceived macroeconomic challenges.
Effective April 2026, the CBN enhanced the BES methodology by changing the weighted diffusion index from the previously used three-point Likert scale to a five-point scale.
The July survey was conducted from 6-10 July, with a sample size of 1,900 business enterprises across Nigeria.
CBN said the survey achieved a response rate of 99.9 per cent, covering three key sectors: Industry, Services, and Agriculture.
