Nigeria’s private sector maintained its recovery momentum in April 2026, as the Nigerian Economic Summit Group Business Confidence Monitor Current Business Performance Index rose to 102.1 points.
The latest data shows a marginal increase from 101.2 points recorded in March, marking the fourth consecutive month of expansion above the 100-point threshold.
Business conditions remain weaker compared to April 2025, however, when the index stood significantly higher at 112.3 points.
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Agriculture rebounded to 103.2 points from 91.1 points, driven by crop production and livestock activities, while Non-Manufacturing rose to 101.6 points from 98.4 points.
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Manufacturing declined to 98.7 points from 103.4 points, returning to contraction, while services remained in expansion at 101.5 points, though weaker than 104.7 points in March.
Within manufacturing, sub-sectors such as textiles, cement, chemicals, and motor vehicle assembly recorded weak performance, while only food, beverage, tobacco, and basic metals sustained growth.
The trade sector also remained in expansion at 102.7 points, supported by improved consumer spending, although performance slowed compared to previous months.
Despite gains in production, demand, cash flow, and employment, investment and export activities remained in contraction, reflecting persistent structural challenges.
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