Business Confidence In Nigeria Weakened In June As Rising Operating Costs And Persistent Structural Challenges Tempered Optimism Among Firms.
This Is According To The Central Bank Of Nigeria’s Latest Business Expectations Survey.
The survey shows the overall business outlook on the macroeconomy for the current month fell sharply to 7.2 points in June from 19.6 points recorded in May, reflecting weaker business confidence across the economy.
Despite the decline in current sentiment, businesses remain optimistic about the months ahead.
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The survey projects confidence to improve to 17.6 points next month, 24.1 points over the next three months, and 30.9 points over the next six months, suggesting firms expect economic conditions to strengthen over time.
Businesses identified high interest rates, multiple taxation, insecurity, high bank charges and inadequate power supply as the major constraints affecting their operations, underscoring the challenges that continue to weigh on confidence and investment decisions.
(Editor: Terverr Tyav)
