NESG: Export Sub-index Contracts to 95.1, Lowest in 13 Months
Dike Onwuamaeze The export sub-index of the Nigeria Economic Summit Group (NESG) Business Confidence Monitor (BCM), fell into contraction territory in October 2026, while the financial results index moved into
The Nigeria Economic Summit Group (NESG) Business Confidence Monitor (BCM) reported that the export sub-index of Nigeria's economic confidence fell to 95.1 in October 2026, marking its lowest performance since October 2025. Meanwhile, the financial results index moved into expansion territory, rising from 99.1 in September to 132.1 in October 2026.
Cost of doing business and prices, which are inversely interpreted, also fell, with the cost index at 45.2 and producer prices at 65.5, both above the neutral 100-point threshold. Despite sustained business growth, firms faced challenges such as irregular electricity supply, credit squeeze, insecurity, high rental costs, and inadequate infrastructure.
However, the current business performance index (CBPI) showed that Nigeria's business activity continued to expand in October 2026. Trade and services showed the strongest optimism, with trade registered at 194.0 points, followed by manufacturing at 145.1 points and non-manufacturing at 135.0 points. Consumer demand remained strong during the year-end festivities and ongoing campaign activities, contributing to the overall positive outlook.
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