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The Central Bank of Nigeria's (CBN) Business Expectations Survey report for August 2025 reflects optimism regarding the macroeconomic outlook. The Confidence Index increased to 28.9 index points in August 2025 from 21.4 index points in July 2025. All sectors expressed positive expectations for the business outlook, with Services leading at 29.7 index points, Industry at 28.5 index points, and Agriculture at 27.1 index points. This optimistic trend is expected to continue over the next six months, with Industry projected to rise to 59.9 index points, Agriculture to 52.8 index points, and Services to 55.1 index points. This, therefore, reflects growing business confidence in the Nigerian economy. The Business Confidence Index (BCI) further highlights this positive sentiment, with Mining & Quarrying leading at 21.1 index points, followed by Agriculture at 17.5 index points, Non-Market Services at 16.8 index points, Market Services at 16.7 index points, Manufacturing at 8.5 index points, and Construction at 2.0 index points. These figures indicate strong confidence across sectors in the economy. However, despite the positive momentum, respondents identified the top three business constraints in the month under review, including Insecurity (71.2%), Insufficient Power Supply (69.5%), and High Interest Rates (68.6%), highlighting factors that continue to affect operational stability and profitability. To maintain positive business confidence, the government should focus on targeted policies that address the key operational challenges, improve business conditions, and create a more supportive environment for investment and growth. Addressing insecurity is crucial, as well as driving investment in energy infrastructure to provide affordable and steady electricity to firms
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