Nigeria Business Confidence Growth

2015 - 2024 | Monthly | % Point | CEIC Data

Key information about Nigeria Business Confidence Growth

  • Nigeria Business Confidence grew 4.4 % in Nov 2024, compared with an increase of 12.8 % YoY in the previous month.
  • Nigeria Business Confidence: YoY Change is updated monthly, available from Jul 2015 to Nov 2024, with an averaged rate of 1.4 %.
  • The data reached an all-high of 25.6 % in Sep 2017 and a record low of -32.6 % in Jun 2020.

CEIC calculates Business Confidence Change from monthly Purchasing Managers Index. The Central Bank of Nigeria provides Purchasing Managers Index with range from 0 to 100 with neutral point 50. Business Confidence covers Manufacturing sectors only.

View Nigeria's Business Confidence Growth from Jul 2015 to Nov 2024 in the chart:

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Nigeria Business Confidence Growth
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Nigeria Business Confidence Growth

What was Nigeria's Business Confidence Growth in Nov 2024?

Nigeria Business Confidence grew 4.4 % in Nov 2024, compared with an increase of 12.8 % YoY in the previous month. See the table below for more data.

Last Previous Min Max Unit Frequency Range
4.4 Nov 2024 12.8 Oct 2024 -32.6 Jun 2020 25.6 Sep 2017 % Point monthly Jul 2015 - Nov 2024

Business Confidence Growth by Country Comparison

country/region Last Frequency Range
Albania (% Point) -5.7 Dec 2024 quarterly Jun 2017 - Dec 2024
Armenia (% Point) -3.7 Jun 2016 quarterly Sep 2006 - Jun 2016
Australia (% Point) -1.0 Feb 2025 monthly Jul 2013 - Feb 2025
Austria (% Point) 1.0 Feb 2025 monthly Jan 1986 - Feb 2025
Belarus (% Point) -9.6 Aug 2014 monthly Dec 2006 - Aug 2014
Belgium (% Point) 2.9 Feb 2025 monthly Jan 1981 - Feb 2025
Brazil (% Point) -8.0 Feb 2025 monthly Jan 2010 - Feb 2025
Bulgaria (% Point) 2.8 Feb 2025 monthly Jan 1994 - Feb 2025
Canada (% Point) 2.8 Feb 2025 monthly Dec 2001 - Feb 2025
Chile (% Point) 10.5 Feb 2025 monthly Nov 2004 - Feb 2025
China (% Point) 2.2 Feb 2025 monthly Jan 2006 - Feb 2025
Colombia (% Point) 1.8 Jan 2025 monthly Jan 1981 - Jan 2025
Croatia (% Point) -3.5 Feb 2025 monthly May 2009 - Feb 2025
Cyprus (% Point) 14.3 Feb 2025 monthly May 2003 - Feb 2025
Czech Republic (% Point) 8.0 Feb 2025 monthly Mar 1994 - Feb 2025
Denmark (% Point) 8.5 Feb 2025 monthly Jan 1986 - Feb 2025
Ecuador (% Point) 9.7 Jan 2025 monthly Feb 2011 - Jan 2025
Estonia (% Point) 13.0 Feb 2025 monthly May 2002 - Feb 2025
European Union (% Point) -0.9 Feb 2025 monthly Jan 1986 - Feb 2025
Finland (% Point) 4.7 Feb 2025 monthly Jan 1994 - Feb 2025
France (% Point) -2.4 Feb 2025 monthly Jan 1986 - Feb 2025
Georgia (% Point) 2.2 Mar 2025 quarterly Dec 2014 - Mar 2025
Germany (% Point) -5.3 Feb 2025 monthly Jan 1992 - Feb 2025
Ghana (%) 6.3 Dec 2024 monthly Dec 2013 - Dec 2024
Greece (% Point) 8.1 Feb 2025 monthly Jan 1986 - Feb 2025
Hong Kong SAR, China (% Point) -11.0 Mar 2025 quarterly Mar 2009 - Mar 2025
Hungary (% Point) -3.7 Feb 2025 monthly Jan 1997 - Feb 2025
Iceland (% Point) 98.4 Dec 2024 quarterly Dec 2003 - Dec 2024
India (% Point) -10.3 Mar 2025 quarterly Jun 2001 - Mar 2025
Indonesia (% Point) -1.7 Mar 2025 quarterly Mar 2011 - Mar 2025
Israel (% Point) 13.2 Feb 2025 monthly Jan 2016 - Feb 2025
Italy (% Point) -0.7 Feb 2025 monthly Jan 1986 - Feb 2025
Japan (% Point) 3.0 Mar 2025 quarterly Mar 2001 - Mar 2025
Kazakhstan (% Point) 3.0 Mar 2024 quarterly Mar 2009 - Mar 2024
South Korea (% Point) -6.0 Mar 2025 monthly Feb 2004 - Mar 2025
Latvia (% Point) -6.9 May 2023 monthly Apr 1994 - May 2023
Lithuania (% Point) 3.1 Feb 2025 monthly Apr 2004 - Feb 2025
Luxembourg (% Point) 2.3 Feb 2025 monthly Jan 1986 - Feb 2025
North Macedonia (% Point) -2.9 Dec 2022 monthly Apr 2002 - Dec 2022
Malaysia (% Point) 25.2 Sep 2024 quarterly Mar 2004 - Sep 2024
Malta (% Point) 21.6 Feb 2025 monthly Nov 2003 - Feb 2025
Mauritius (% Point) -9.1 Jun 2019 quarterly Mar 2011 - Jun 2019
Mexico (% Point) -7.8 Feb 2025 monthly Jan 2005 - Feb 2025
Mozambique (% Point) 8.9 Jun 2021 monthly Jan 2005 - Jun 2021
Netherlands (% Point) 3.0 Feb 2025 monthly Jan 1986 - Feb 2025
New Zealand (% Point) -7.4 May 2023 monthly Aug 2003 - May 2023
Nigeria (% Point) 4.4 Nov 2024 monthly Jul 2015 - Nov 2024
Norway (% Point) -0.1 Feb 2025 monthly Feb 2005 - Feb 2025
Palestinian Territory (% Point) 23.1 Feb 2025 monthly Apr 2014 - Feb 2025
Peru (% Point) 14.7 Feb 2025 monthly Apr 2003 - Feb 2025
Philippines (% Point) -1.9 Dec 2024 quarterly Jun 2002 - Dec 2024
Poland (% Point) -2.7 May 2023 monthly Jul 2006 - May 2023
Portugal (% Point) 0.9 Feb 2025 monthly Jan 1988 - Feb 2025
Qatar (% Point) -3.6 Mar 2020 quarterly Jun 2015 - Mar 2020
Romania (% Point) -0.8 Feb 2025 monthly Jul 1992 - Feb 2025
Russia (% Point) -2.0 Feb 2025 monthly Jan 2006 - Feb 2025
Serbia (% Point) -4.0 Feb 2025 monthly May 2014 - Feb 2025
Singapore (% Point) 0.2 Feb 2025 monthly Jan 2000 - Feb 2025
Slovakia (% Point) 7.3 Feb 2025 monthly Jan 1994 - Feb 2025
Slovenia (% Point) 0.4 Jan 2025 monthly May 1996 - Jan 2025
South Africa (% Point) -11.1 Feb 2025 monthly Sep 2000 - Feb 2025
Spain (% Point) -1.8 Feb 2025 monthly Jan 1994 - Feb 2025
Sri Lanka (% Point) -8.2 May 2023 monthly May 2016 - May 2023
Sweden (% Point) 8.2 Feb 2025 monthly Jan 2002 - Feb 2025
Switzerland (% Point) 12.0 Feb 2025 monthly Jan 1996 - Feb 2025
Taiwan (% Point) -3.2 Mar 2018 monthly May 2013 - Mar 2018
Thailand (% Point) 0.2 Feb 2025 monthly Feb 2000 - Feb 2025
Turkey (% Point) 0.8 Feb 2025 monthly Jan 2008 - Feb 2025
Ukraine (% Point) 1.7 Jun 2024 quarterly Sep 2013 - Jun 2024
United Kingdom (% Point) 8.4 Dec 2020 monthly Jan 1986 - Dec 2020
United States (% Point) 5.4 Feb 2025 monthly Jan 1949 - Feb 2025
Uruguay (% Point) -7.0 Dec 2024 monthly Oct 1999 - Dec 2024

Nigeria Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -5.7 Sep 2024 quarterly Dec 2010 - Sep 2024
Consolidated Fiscal Balance (USD mn) -2,078.997 Sep 2024 quarterly Mar 2005 - Sep 2024
National Government Debt (USD mn) 86,261.2 Sep 2024 quarterly Dec 2006 - Sep 2024
Government Debt: % of GDP (%) 53.8 Sep 2024 quarterly Dec 2010 - Sep 2024
Forecast: Government Expenditure (NGN bn) 100,505.650 2029 yearly 1990 - 2029
Forecast: Government Net Debt (NGN bn) 285,181.495 2029 yearly 1990 - 2029
Forecast: Government Revenue (NGN bn) 72,588.069 2029 yearly 1990 - 2029
Federal Govt Balance (NGN bn) -3,301.610 Sep 2024 quarterly Mar 2005 - Sep 2024
Gross Federation Account Revenue (NGN bn) 6,865.840 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Expenditure: Capital (NGN bn) 1,415.860 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Revenue (NGN bn) 2,282.540 Sep 2024 quarterly Mar 2005 - Sep 2024
Gross Federation Account Revenue: Oil (NGN bn) 1,304.960 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Expenditure (NGN bn) 5,584.150 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Expenditure: Recurrent (NGN bn) 3,732.590 Sep 2024 quarterly Mar 2005 - Sep 2024
Government Debt: Domestic (NGN bn) 69,219.806 Sep 2024 quarterly Dec 2005 - Sep 2024
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 1,027.6 Sep 2024 monthly Jan 2003 - Sep 2024
Total Exports (USD mn) 3,738.1 Sep 2024 monthly Jan 2003 - Sep 2024
Total Exports Growth (%) 56.4 Sep 2024 monthly Jan 2004 - Sep 2024
Aluminum: Exports (USD th) 187,832.450 2023 yearly 1995 - 2023
Exports: Medicament (USD th) 1,530.686 2023 yearly 1995 - 2023
Exports: Medicinal and Pharmaceutical Product (USD th) 329.199 2023 yearly 1995 - 2023
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) 62.9 Sep 2024 monthly Jan 2004 - Sep 2024
Imports: Medicament (USD th) 614,222.259 2023 yearly 1995 - 2023
Imports: Medicinal and Pharmaceutical Product (USD th) 227,440.624 2023 yearly 1995 - 2023
Total Exports to USA (USD mn) 124.857 Sep 2024 monthly Jan 2003 - Sep 2024
Total Imports from USA (USD mn) 275.937 Sep 2024 monthly Dec 2009 - Sep 2024
Total Exports to China (USD mn) 105.763 Sep 2024 monthly Jan 2007 - Sep 2024
Total Imports from China (USD mn) 802.488 Sep 2024 monthly Jan 2007 - Sep 2024
Imports (NGN mn) 4,384,900.258 Sep 2024 monthly Jan 2003 - Sep 2024
Total Trade (NGN mn) 10,432,090.965 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Growth Rate: MoM (%) -17.535 Sep 2024 monthly Jan 2019 - Sep 2024
Exports: Growth Rate: MoM (%) -17.669 Sep 2024 monthly Jan 2019 - Sep 2024
Exports: Crude Oil (NGN mn) 3,905,247.850 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: America: ow USA (NGN mn) 201,983.472 Sep 2024 monthly Jan 2003 - Sep 2024
Exports (NGN mn) 6,047,190.706 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Europe: ow Netherlands (NGN mn) 261,930.167 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Europe: ow UK (NGN mn) 180,704.134 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Vegetable Products (NGN mn) 786,963.687 2023 yearly 2003 - 2023
Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) 53,170.162 2023 yearly 2003 - 2023
Exports: Mineral Products (NGN mn) 33,075,147.443 2023 yearly 2003 - 2023
Imports: Asia: ow China (NGN mn) 1,298,198.961 Sep 2024 monthly Jan 2007 - Sep 2024
Imports: Europe: ow UK (NGN mn) 134,085.602 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: America: ow USA (NGN mn) 446,388.165 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Europe: ow Netherlands (NGN mn) 201,091.335 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Europe: ow Germany (NGN mn) 135,143.103 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Chemicals and Chemical Products (NGN mn) 614,100.231 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Manufactured Goods (NGN mn) 488,494.173 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 1,024,863.121 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Machinery and Transport Equipment (NGN mn) 1,432,150.870 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Food and Live Animals (NGN mn) 455,343.676 Sep 2024 monthly Jan 2003 - Sep 2024
Export Value Index (2015=100) 93.461 2021 yearly 1980 - 2021
Import Value Index (2015=100) 116.198 2021 yearly 1980 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -831.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Current Account Balance (USD mn) 5,142.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Current Account Balance: % of GDP (%) 11.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Foreign Direct Investment (USD mn) 1,197.6 Mar 2023 quarterly Mar 2014 - Mar 2023
Foreign Direct Investment: % of GDP (%) 1.3 Sep 2024 quarterly Mar 2010 - Sep 2024
Foreign Portfolio Investment (USD mn) 4,416.719 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: % of GDP (%) 4.3 Sep 2024 quarterly Mar 2010 - Sep 2024
Foreign Portfolio Investment: Equity Securities (USD mn) -309.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: Debt Securities (USD mn) 4,726.039 Jun 2024 quarterly Mar 2008 - Jun 2024
External Debt (USD mn) 43,026.6 Sep 2024 quarterly Dec 2006 - Sep 2024
External Debt: % of GDP (%) 11.9 2023 yearly 1985 - 2023
External Debt: Short Term (USD mn) 1,005.6 2020 yearly 2008 - 2020
External Debt: Short Term: % of GDP (%) 0.2 2020 yearly 2008 - 2020
Forecast: Current Account Balance (USD bn) -5.481 2029 yearly 1980 - 2029
Net International Investment Position (USD mn) -86,263.760 2023 yearly 2005 - 2023
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government: International Capital Market (USD mn) 15,118.350 Sep 2024 quarterly Mar 2011 - Sep 2024
External Debt: Government (USD mn) 43,026.550 Sep 2024 quarterly Dec 2006 - Sep 2024
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 6.1 2019 yearly 2003 - 2019
Non-Performing Loans (USD mn) 3,315.011 Mar 2021 quarterly Mar 2007 - Mar 2021
Money Supply M1 (USD mn) 24,967.124 Jan 2025 monthly Nov 1992 - Jan 2025
Money Supply M2 (USD mn) 75,096.954 Jan 2025 monthly Nov 1992 - Jan 2025
M2 Growth (%) 18.3 Jan 2025 monthly Nov 1993 - Jan 2025
Reserve Requirement Ratio (%) 50.0 Feb 2025 monthly Nov 2005 - Feb 2025
Foreign Exchange Reserves (USD mn) 40,380.0 Nov 2024 monthly Jan 1960 - Nov 2024
Foreign Exchange Reserves: % of GDP (%) 18.573 Sep 2024 quarterly Dec 2010 - Sep 2024
Foreign Exchange Reserves: Months of Import (NA) 14.5 Sep 2024 monthly Jan 2003 - Sep 2024
Gold Reserves (USD mn) 1,599.957 Jun 2024 monthly Dec 1950 - Jun 2024
Total Deposits (USD mn) 84,213.801 Dec 2019 monthly Nov 1992 - Dec 2019
Total Deposits Growth (%) 2.6 Dec 2019 monthly Nov 1993 - Dec 2019
Domestic Credit (USD mn) 67,269.4 Jan 2025 monthly Nov 1992 - Jan 2025
Domestic Credit Growth (%) -0.6 Jan 2025 monthly Nov 1993 - Jan 2025
Private Debt: % of Nominal GDP (%) 20.83 Jun 2024 quarterly Dec 2010 - Jun 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 36,894,418.660 Jan 2025 monthly Nov 1992 - Jan 2025
Monetary Survey: Liabilities: Base Money (NGN mn) 32,659,076.490 Jan 2025 monthly Jan 1993 - Jan 2025
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Monetary Survey: Liabilities: M2 (NGN mn) 110,972,270.500 Jan 2025 monthly Nov 1992 - Jan 2025
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 74,077,851.830 Jan 2025 monthly Nov 1992 - Jan 2025
Non Performing Loans to Gross Loans (%) 4.140 Jun 2023 semiannually Dec 2003 - Jun 2023
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 4.4 Nov 2024 monthly Jul 2015 - Nov 2024

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