NESG: Power shortages, credit squeeze slow Nigeria’s business activity in October
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Nairametrics
Reported by Olalekan Adigun
Thu, 5 Nov 2026, 12:44
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Source Attribution: Nairametrics
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Nigeria’s business activity expanded at a slower pace in October 2026, with the composite Current Business Performance Index falling to 115.4 points from 117.8 points in September, as firms continued to grapple with power supply problems, limited access to credit and inadequate infrastructure. Trade and Services record stronger activity Trade recorded the strongest business performance in October, with its Current Business Performance Index rising to 136.1 points from 128.5 points in September and 115.4 points a year earlier.
Context & Background
✦Agriculture also recorded slower growth, with its index falling to 113.8 points from 117.7 points in September, although it remained above the 111.4 points recorded in October 2025.
Key Figures & Named Entities
2026:Nigeria’s business activity expanded at a slower pace in October 2026, with the composite Current Business Performance Index falling to 115.4 points from 117.8 points in September, as firms continued to grapple with power supply problems, limited access to credit and inadequate infrastructure.2026:The Nigerian Economic Summit Group (NESG) disclosed this in its October 2026 Business Confidence Monitor (BCM), noting that the latest reading remained above the 100-point threshold separating expansion from contraction.2025:Although activity slowed month-on-month, the index was higher than the 111.3 points recorded in October 2025.
Outlook & Next Steps
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Key Takeaways
Verified Extract
✦Nigeria’s business activity expanded at a slower pace in October 2026, with the composite Current Business Performance Index falling to 115.4 points from 117.8 points in September, as firms continued to grapple with power supply problems, limited access to credit and inadequate infrastructure.
✦Trade and Services record stronger activity Trade recorded the strongest business performance in October, with its Current Business Performance Index rising to 136.1 points from 128.5 points in September and 115.4 points a year earlier.
✦Agriculture also recorded slower growth, with its index falling to 113.8 points from 117.7 points in September, although it remained above the 111.4 points recorded in October 2025.
Key Facts:2026: Nigeria’s business activity expanded at a slower pace in October 2026, with the composite Current Business Performance Index falling to 115.4 points from 117.8 points in September, as firms continued to grapple with power supply problems, limited access to credit and inadequate infrastructure.2026: The Nigerian Economic Summit Group (NESG) disclosed this in its October 2026 Business Confidence Monitor (BCM), noting that the latest reading remained above the 100-point threshold separating expansion from contraction.2025: Although activity slowed month-on-month, the index was higher than the 111.3 points recorded in October 2025.2025: Services also recorded an improvement, with its index rising to 111.9 points from 107.7 points in September and 111.0 points in October 2025.
Editorial Excerpt
Nigeria’s business activity expanded at a slower pace in October 2026, with the composite Current Business Performance Index falling to 115.4 points from 117.8 points in September, as firms continued to grapple with power supply problems, limited access to credit and inadequate infrastructure.
Frequently Asked Questions About This Story
What is the latest development regarding Central Bank of Nigeria?
Nigeria’s business activity expanded at a slower pace in October 2026, with the composite Current Business Performance Index falling to 115.4 points from 117.8 points in September, as firms continued to grapple with power supply problems, limited access to credit and inadequate infrastructure.
Who are the key organizations or public figures mentioned?
The primary parties identified in this coverage include Central Bank of Nigeria.
What timeline or key figures were confirmed?
Nigeria’s business activity expanded at a slower pace in October 2026, with the composite Current Business Performance Index falling to 115.4 points from 117.8 points in September, as firms continued to grapple with power supply problems, limited access to credit and inadequate infrastructure.
