Business Confidence in Nigeria decreased to -15.20 points in December from -1.50 points in November of 2020. source: Central Bank of Nigeria

Business Confidence in Nigeria averaged 12.38 points from 2008 until 2020, reaching an all time high of 41.10 points in June of 2011 and a record low of -66.20 points in May of 2020. This page provides - Nigeria Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Business Confidence - values, historical data and charts - was last updated on April of 2021.

Business Confidence in Nigeria is expected to be -8.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Nigeria to stand at 4.00 in 12 months time. In the long-term, the Nigeria Business Confidence is projected to trend around 10.00 points in 2022 and 15.00 points in 2023, according to our econometric models.

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Nigeria Business Confidence

Actual Previous Highest Lowest Dates Unit Frequency
-15.20 -1.50 41.10 -66.20 2008 - 2020 points Monthly

Nigeria Business Last Previous Highest Lowest Unit
Business Confidence -15.20 -1.50 41.10 -66.20 points [+]
Industrial Production 1.60 -10.30 25.10 -20.40 percent [+]
Manufacturing Production -1.30 -10.30 24.60 -10.30 percent [+]
Internet Speed 3853.93 4129.28 4129.28 348.64 KBps [+]
IP Addresses 209207.00 194830.00 244394.00 29604.00 IP [+]
Services PMI 45.70 47.60 62.30 25.30 points [+]
Leading Economic Index 45.90 45.50 53.00 45.50 percent [+]
Manufacturing PMI 49.60 50.20 61.10 41.10 points [+]
Mining Production 9.20 -17.30 48.20 -34.10 percent [+]
Crude Oil Rigs 6.00 7.00 23.00 3.00 [+]
Ease of Doing Business 131.00 146.00 170.00 120.00 [+]
Changes In Inventories 133483.38 72265.70 178909.34 32488.05 NGN Million [+]
Competitiveness Index 48.33 47.53 48.33 3.37 Points [+]
Competitiveness Rank 116.00 115.00 127.00 94.00 [+]
Composite PMI 52.90 52.00 59.10 37.10 points [+]
Capacity Utilization 45.40 43.80 60.50 40.10 percent [+]
Corruption Index 25.00 26.00 28.00 6.90 Points [+]
Corruption Rank 149.00 146.00 152.00 52.00 [+]


Nigeria Business Confidence
In Nigeria, the Business Expectations Survey is based on a sample of 1850 companies and provides advance indication of change in the overall business activity. It is a quarterly survey of nationwide leading firms from the main sectors of the economy: Services, Industrial, Wholesale/Retail Trade and Construction. The overall index is computed as the percentage share of firms that have an “improving outlook” less percentage share of firms that have a “deteriorating outlook”.