Nigeria’s businesses are riding a wave of optimism as February 2026 marked historic growth.
According to the NESG, companies pushed the Business Confidence Monitor to a record 117.2 points.
Business Confidence Surges
This figure rose sharply from 105.8 points in January 2026 and 111.5 points last year.
Furthermore, all major sectors reported growth, showing a broad-based recovery across the economy.
Sector Growth Highlights
Non-manufacturing led expansion, climbing to 128.9 points, while most sub-sectors improved except crude petroleum.
Meanwhile, manufacturing increased to 121.1 points, driven by food, chemicals, and paper, despite cement and plastics dropping.
Additionally, services rose to 109.2 points, helped by finance, telecoms, broadcasting, real estate, and IT activity.
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Trade rebounded strongly to 108.7 points, reflecting renewed commercial activity nationwide.
Agriculture returned to expansion at 104.8 points, boosted by better crops, livestock, and agro-allied production.
However, insecurity, infrastructure gaps, high costs, and limited access to finance still restrain some sectors.
Optimism For The Future
Looking ahead, companies pushed future business expectations to 135.5 points, signalling strong optimism.
Manufacturing led expectations at 164.3 points, followed by trade at 163.1 and non-manufacturing at 151.0.
Moreover, agriculture posted 137.2 points, while services remained positive at 117.1 points despite slower growth.
Finally, private sector activity confirmed the recovery as the PMI climbed to 53.2 from 49.7.
With rising confidence, Nigeria’s businesses appear ready to sustain expansion and strengthen economic performance.
