As Business Confidence drops to 6-month low
By Babajide Komolafe
Rising taxes and fuel price adjustments slowed the pace of business growth in Nigeria in January 2026, pushing business confidence to a six-month low, according to the latest Business Confidence Monitor (BCM) report released by the Nigerian Economic Summit Group (NESG).
The report showed that the Current Business Performance Index declined to 105.8 points in January from 112.0 points in December 2025, marking its weakest level in the past six months, though it remained above the 100-point threshold that separates expansion from contraction.  
NESG attributed the slowdown to heightened cost pressures, weak post-festive consumer demand and the combined impact of new tax measures and higher energy costs on business operations.
A sectoral analysis indicated that business activity weakened across most segments of the economy. Agriculture and Trade slipped into contraction territory, recording 99.5 points and 92.7 points re
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