By Yinka Kolawole
Manufacturers’ confidence in Nigeria’s business environment rebounded in the second quarter of 2026 (Q2’26) buoyed by expectations of improved government policies and a more favourable operating climate. But the sector operators have continued to grapple with high borrowing costs, inadequate power supply, foreign exchange constraints and multiple taxation.
The latest Manufacturers CEO Confidence Index (MCCI) released by the Manufacturers Association of Nigeria, MAN, showed that the aggregate index rose to 52.1 points in Q2 2026, up from 48.7 points in the first quarter (Q1’26) indicating a return to positive business sentiment.
Director General of MAN, Segun Ajayi-Kadir, said the improvement reflected manufacturers’ optimism about the direction of government reforms rather than any significant improvement in current operating conditions.
He stated: “The increase in the MCCI to 52.1 points signals renewed confidence among manufacturers, driven largely by expectations that recent policy initiatives, including the Nigeria Industrial Policy, the ‘Nigeria First’ Policy, Executive Orders 003 and 005, and the Nigeria Tax Act 2025, will improve the operating environment.”
