The Business NG - October 17, 2025

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Editorial Focus: BusinessNG, October 17, 2025

Nigeria’s business environment remains under pressure as rising operational costs, driven by high bank charges, multiple taxes, and poor infrastructure, continue to stifle growth, the Central Bank of Nigeria (CBN) reports. The CBN’s September 2025 Business Expectations Survey ranked these three factors—bank charges (70.8), taxes (70.8), and infrastructure deficits (70.7)—as the top constraints facing businesses nationwide.

Despite these challenges, the report shows cautious optimism among entrepreneurs, with the overall Confidence Index at 31.5 points in September, projected to rise to 51.8 points within six months. Regionally, sentiment varies sharply: the North-East leads with 48.7 points, while the South-East lags at 7.3 points, reflecting persistent local infrastructure and taxation challenges.

Other hurdles include unfavourable economic policies (64.9), exchange rate volatility (62.3), limited access to credit (58.5), and inflationary pressures (55.6). The findings highlight a paradox: businesses remain cautiously hopeful, yet systemic constraints threaten sustainable growth, underscoring the urgent need for targeted policy reforms and infrastructure investments to unlock Nigeria’s economic potential.