Lagos — Business performance in Nigeria recorded another positive streak in June 2025, marking six consecutive months of expansion, according to the NESG-Stanbic IBTC Business Confidence Index Monitor (BCM) report.
The Business Performance Index for June 2025 stood at 113.6 points, representing a 3.8-point increase from the 109.8 points recorded in May 2025. Sectorally, strong business growth was recorded in the manufacturing industry, which reached 123.6 points; the non-manufacturing sector stood at 120.7, while the trade index was 121.0 in June 2025.
The agricultural and services sectors also recorded slight expansion, reaching 108.9 and 106.3 points, respectively. However, the non-manufacturing sector declined slightly to 120.7 points in June, from 122.2 points in May 2025.
The decline may be attributed to reduced credit availability, rising inventories due to weak demand, and unfavourable exchange rates, with imported inflation driving up production costs.
The overall improved business performance outlook is driven by expectations of a better business environment, stronger demand conditions, and increased profitability.
Despite the positive momentum, structural challenges continuously hinder broader business growth. To sustain the improvements, the government must maintain a more stable exchange rate regime to reduce uncertainties and lower input costs.
Targeted efforts are also needed to stimulate demand and ease financing conditions, particularly for small and medium-sized enterprises (SMEs).
