Nigeria: Business Confidence Index 2019-2020

The business confidence index provides information on the development in the production, sales, orders, and stocks in the main economic sectors. The data are based on the results of surveys conducted among companies. According to the source, the overall index is computed as the percentage share of firms that have an “improving outlook” minus the percentage share of firms that have a “deteriorating outlook”. In May 2020, the business confidence in Nigeria reached the lowest figure over the period of consideration (-66.2 points), decreasing considerably compared to the previous months.

Business Confidence Index among companies in Nigeria from May 2019 to December 2020

Characteristic	Index points
Dec '20	-15.2
Nov '20	-1.5
Oct '20	-1.5
Sep '20	-17
Aug '20	4.3
Jul '20	-7.9
Jun '20	-24.3
May '20	-66.2
Mar '20	6.6
Feb '20	26.6
Jan '20	28.3
Dec '19	30.3
Nov '19	29

-80-60-40-2002040

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Release date

February 2021

More information

Region

Nigeria

Survey time period

May 2019 to December 2020

Number of respondents

1,850 respondents

Special properties

Companies

Supplementary notes

The source adds the following information: "In Nigeria, the Business Expectations Survey is based on a sample of 1,850 companies and provides advance indication of change in the overall business activity. It is a quarterly survey of nationwide leading firms from the main sectors of the economy: Services, Industrial, Wholesale/Retail Trade and Construction. The overall index is computed as the percentage share of firms that have an “improving outlook” less percentage share of firms that have a “deteriorating outlook."
The source does not specify the publication date. The release date is the date of access.

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Key indicators of Nigeria's economy

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