Indications that Nigeria’s investment space is getting better for businesses have emerged as the latest report by the Nigerian Economic Summit Group (NESG) reflected that the nation’s Business Performance Index (BPI) stood at 104.6 points in May this year, up from 102.1 in April 2026
The NESG, in its just published Business Confidence Monitor (BCM) survey report, indicated, however, that May 2026 BPI was lower than the 109.8 points recorded by the country in May 2025.
Nonetheless, the group attributed the month-on-month uptick in the index to improved performances in Manufacturing, Services, and Trade.
According to the NESG, despite this expansion, business activity was constrained by limited access to finance, incessant power outages, elevated rental costs, and persistent insecurity during the month.
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A further breakdown of the BCM report’s findings showed that nation’s BPI was broadly positive across sectors in the month under review as Manufacturing moved into the expansion territory (114.1 points from 98.7 in April 2026).
Similarly, the index reading rose for Services (103.5 points from 101.5) and Trade (105.5 points from 102.7). However, business activity slipped into the contraction region in Manufacturing (99.4 points from 101.6) and Agriculture (97.5 points from 103.2) during the month.
The NESG’s BCM is a survey-based report that presents qualitative information on the current business sentiment within the Nigerian economy and gauges expectations about overall economic activities in the short term.
