The Nigerian Economic Summit Group (NESG) has reported that the nation’s business environment remained in the expansion territory in February this year with the Business Performance Index rising to 117.2 points, up from 105.8 and 111.5 points in January 2026 and February 2025, respectively.
The group’s just published Business Confidence Monitor (BCM) indicated that the February 2026 BPI represented the strongest performance in over a year, signalling improved business conditions.
According to the BCM data, the sectoral breakdown indicates broad-based improvements in business activities across all five sectors during the month as Non-manufacturing recorded the strongest index reading (128.9 points from 115.3), followed by Manufacturing (121.1 points from 115.8) and Services (109.2 points from 102.1).
Similarly, the NESG reported that Trade (108.7 points from 92.7) and Agriculture (104.8 points from 99.5) moved into the expansionary region in the month under review.
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It noted that key BCM sub-indices, including general business situation, production, demand conditions, investment, financial conditions, access to credit, cash flow, and employment expanded, recording notable improvements compared with January 2026.
The group disclosed that notably, the export, supply order, and trade stockpiling sub-indices also moved into expansionary territory in February 2026, adding that in the month, the cost of doing business and input prices eased to 65.2 points and 84.3 points, respectively.
The report reflected that this combination of moderated cost pressures and strengthening consumer demand supported overall business activity in February 2026.
The NESG further clarified: “While the investment sub-index remained in contraction, it rose relative to the previous month, indicating a gradual recovery. Despite these broad-based gains, businesses continued to face challenges, including limited financing, irregular electricity supply, rising rental and property costs, and insecurity.”
