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The Central Bank of Nigeria’s (CBN) Business Expectations Survey (BES) for June 2025 revealed sustained optimism among businesses across the country. The overall Confidence Index stood at 20.7 index points, indicating positive sentiments about the current macroeconomic environment. This upbeat outlook is projected to strengthen further, with index points reaching 23.0 in July, 34.9 in September, and 41.3 in December 2025. Sectoral responses suggest broad based optimism. The industry sector recorded the highest optimism in June 2025, with a confidence level of 23.1 index points. The confidence index is expected to rise significantly, with projections for the next six months reaching 48.3 for Industry and 42.8 for Agriculture. The Services sector also showed a promising trajectory, with optimism rising to 36.8 index points in the next six months. The Business Confidence Index (BCI) further highlighted sectoral optimism. The Construction sector led with the highest confidence index at 15.4 index points, followed by Manufacturing (13.1), Mining and Quarrying (12.5), Agriculture (11.4), Market Services (10.7), and Non-Market Services (7.6). Regionally, the outlook for the macroeconomy remains largely positive, which is favourable for the overall economy. However, to consolidate this growing confidence, consistent monetary and fiscal coordination is essential, particularly measures that address credit accessibility, interest rate concerns, and structural constraints that vary across regions.
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