Abuja, Nigeria — Nigeria’s business environment maintained its growth trajectory in September 2025, with the Current Business Performance Index climbing to 107.9 points, up from 107.3 points recorded in August.
The figures, released in the latest NESG–Stanbic IBTC Business Confidence Monitor (BCM), highlight sustained optimism among Nigerian firms despite persistent structural challenges. Analysts note that the country’s business performance has remained in the expansion zone since December 2024, underlining resilience in key sectors of the economy.
On a year-to-date basis, business performance between January and September 2025 is 20.0 index points higher compared to the same period in 2024. The report describes this as a strong signal of recovery and renewed investor confidence across multiple industries.
Agriculture Emerges as Growth Driver
Agriculture was a major contributor to September’s improvement, bouncing back sharply after recording a contraction in August. The sector’s BCM Index surged from 95.6 to 107.3 points, driven largely by gains in crop production and forestry.
The rebound was attributed to a combination of favourable rainfall patterns, bumper harvests, and government input support programmes, which collectively boosted both output and sectoral confidence.
Further data revealed broad-based growth across all five agricultural sub-sectors—crop production, forestry, livestock, fishing, and agro-allied industries. While crop production and forestry shifted from contraction to expansion, the other sub-sectors sustained their upward momentum.
Outlook Remains Positive
The report emphasizes that Nigeria’s ability to sustain expansion in business activity for nine consecutive months signals growing resilience in the face of inflationary pressures, foreign exchange volatility, and infrastructure gaps.
Stakeholders say that continued policy support for agriculture and other productive sectors will be crucial in consolidating these gains and driving inclusive growth.
With agriculture setting the pace, observers believe that Nigeria’s broader economy may continue to witness improved performance in the final quarter of 2025, provided stability is maintained in key markets and reform efforts are sustained.
