Business activity for Nigeria still grow for October, but e slow compared with September, according to Nigerian Economic Summit Group latest Business Confidence Monitor. Reports wey come out on 5 November put the Current Business Performance Index for 115.4 points, down from 117.8. The result still pass the survey 100-point line wey separate expansion from contraction; e no mean say business activity stop to grow.
The figures describe survey about business conditions, no be percentage wey Nigeria economy grow. October reading also pass the 111.3 points wey dem record one year before. That combination matter: things fit better pass October 2025, while improvement slow pass September 2026. To call the monthly fall national recession go pass wetin the evidence show.
The different sectors no move the same way. Trade rise to 136.1 points from 128.5, while services rise to 111.9 from 107.7. Manufacturing reduce to 107.3 from 108.4; agriculture fall to 113.8 from 117.7. All these readings still pass 100. So strong result for trade overall no prove say every shop, farm or factory face the same conditions.
Businesses still mention light wey no stable, difficulty to get finance, insecurity, rent and infrastructure as obstacles. Cost and price indicators improve from September, but dem still dey the side of the survey scale wey show serious pressure. This one different from to say prices fall. The report describe how firms experience those pressures; e no promise say food basket go cheaper.
Wetin e mean for you: small business wey wan buy stock need separate evidence of demand now from hope say festive sales go increase. The monitor give useful background to check orders, money wey dey available and operating costs together. E no fit tell the profit margin, light bill or loan amount wey one business fit afford, and e no announce loan or grant programme.
The index for future expectations rise to 130.8 from 128.9, showing more hope about the next one to three months. Expected festive demand dey among reasons wey reports give. Those expectations no be sales wey don happen. Next reports go help show whether confidence turn to stronger activity, while October result already show why business fit expand and still face hardship.