Nigeria Business Confidence Growth

2015 - 2023 | Monthly | % Point | CEIC Data

Key information about Nigeria Business Confidence Growth

  • Nigeria Business Confidence dropped by 0.6 % in Nov 2023, compared with a decrease of 9.8 % YoY in the previous month.
  • Nigeria Business Confidence: YoY Change is updated monthly, available from Jul 2015 to Nov 2023, with an averaged rate of 1.0 %.
  • 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 2023 in the chart:

Nigeria Business Confidence Growth

What was Nigeria's Business Confidence Growth in Nov 2023?

Nigeria Business Confidence dropped by 0.6 % in Nov 2023, compared with a decrease of 9.8 % YoY in the previous month. See the table below for more data.

Last Previous Min Max Unit Frequency Range
-0.6 Nov 2023 -9.8 Oct 2023 -32.6 Jun 2020 25.6 Sep 2017 % Point monthly Jul 2015 - Nov 2023

Business Confidence Growth by Country Comparison

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Includes Business Confidence Growth on 72 economies standardised by CEIC. Instant access to full history data in excel.
country/region Last Frequency Range
Albania (% Point) -3.1 Mar 2024 quarterly Jun 2017 - Mar 2024
Armenia (% Point) -3.7 Jun 2016 quarterly Sep 2006 - Jun 2016
Australia (% Point) 4.0 Feb 2024 monthly Jul 2013 - Feb 2024
Austria (% Point) -12.0 Dec 2023 monthly Jan 1986 - Dec 2023
Belarus (% Point) -9.6 Aug 2014 monthly Dec 2006 - Aug 2014
Belgium (% Point) -3.4 Mar 2024 monthly Jan 1981 - Mar 2024
Brazil (% Point) 5.8 Mar 2024 monthly Jan 2010 - Mar 2024
Bulgaria (% Point) -0.4 Mar 2024 monthly Jan 1994 - Mar 2024
Canada (% Point) 4.6 Feb 2024 monthly Dec 2001 - Feb 2024
Chile (% Point) 8.2 Feb 2024 monthly Nov 2004 - Feb 2024
China (% Point) -2.2 Mar 2024 monthly Jan 2006 - Mar 2024
Colombia (% Point) -4.5 Feb 2024 monthly Jan 1981 - Feb 2024
Croatia (% Point) 0.6 Mar 2024 monthly May 2009 - Mar 2024
Cyprus (% Point) -11.3 Mar 2024 monthly May 2003 - Mar 2024
Czech Republic (% Point) -7.0 Mar 2024 monthly Mar 1994 - Mar 2024
Denmark (% Point) 10.0 Mar 2024 monthly Jan 1999 - Mar 2024
Ecuador (% Point) 17.8 Feb 2024 monthly Feb 2011 - Feb 2024
Estonia (% Point) -3.3 Mar 2024 monthly May 2002 - Mar 2024
European Union (% Point) -6.4 Mar 2024 monthly Jan 1986 - Mar 2024
Finland (% Point) -0.6 Mar 2024 monthly Jan 1994 - Mar 2024
France (% Point) 1.1 Mar 2024 monthly Jan 1986 - Mar 2024
Georgia (% Point) -21.8 Mar 2024 quarterly Dec 2014 - Mar 2024
Germany (% Point) -15.1 Mar 2024 monthly Jan 1992 - Mar 2024
Ghana (%) 22.8 Feb 2024 monthly Dec 2013 - Feb 2024
Greece (% Point) 2.5 Mar 2024 monthly Jan 1986 - Mar 2024
Hong Kong SAR, China (% Point) -5.0 Mar 2024 quarterly Mar 2009 - Mar 2024
Hungary (% Point) -2.2 Mar 2024 monthly Jan 1997 - Mar 2024
Iceland (% Point) 28.7 Mar 2024 quarterly Dec 2003 - Mar 2024
India (% Point) -2.6 Mar 2024 quarterly Jun 2001 - Mar 2024
Indonesia (% Point) 5.3 Mar 2024 quarterly Mar 2011 - Mar 2024
Israel (% Point) -9.8 Feb 2024 monthly Jan 2016 - Feb 2024
Italy (% Point) -5.5 Mar 2024 monthly Jan 1986 - Mar 2024
Japan (% Point) 7.0 Jun 2024 quarterly Mar 2001 - Jun 2024
Kazakhstan (% Point) -2.0 Jun 2023 quarterly Mar 2009 - Jun 2023
South Korea (% Point) 9.0 Mar 2024 monthly Feb 2004 - Mar 2024
Latvia (% Point) -6.9 May 2023 monthly Apr 1994 - May 2023
Lithuania (% Point) 9.1 Mar 2024 monthly Apr 2004 - Mar 2024
Luxembourg (% Point) -10.8 Mar 2024 monthly Jan 1986 - Mar 2024
North Macedonia (% Point) -2.9 Dec 2022 monthly Apr 2002 - Dec 2022
Malaysia (% Point) 3.1 Dec 2023 quarterly Mar 2004 - Dec 2023
Malta (% Point) -17.8 Mar 2024 monthly Nov 2003 - Mar 2024
Mauritius (% Point) -9.1 Jun 2019 quarterly Mar 2011 - Jun 2019
Mexico (% Point) 2.1 Mar 2024 monthly Jan 2005 - Mar 2024
Mozambique (% Point) 8.9 Jun 2021 monthly Jan 2005 - Jun 2021
Netherlands (% Point) -5.7 Mar 2024 monthly Jan 1986 - Mar 2024
New Zealand (% Point) -7.4 May 2023 monthly Aug 2003 - May 2023
Nigeria (% Point) -0.6 Nov 2023 monthly Jul 2015 - Nov 2023
Norway (% Point) 4.0 Mar 2024 monthly Feb 2005 - Mar 2024
Palestinian Territory (% Point) -27.0 Mar 2024 monthly Apr 2014 - Mar 2024
Peru (% Point) 11.4 Feb 2024 monthly Apr 2003 - Feb 2024
Philippines (% Point) 12.1 Dec 2023 quarterly Jun 2002 - Dec 2023
Poland (% Point) -2.7 May 2023 monthly Jul 2006 - May 2023
Portugal (% Point) -4.1 Mar 2024 monthly Jan 1988 - Mar 2024
Qatar (% Point) -3.6 Mar 2020 quarterly Jun 2015 - Mar 2020
Romania (% Point) -0.8 Mar 2024 monthly Jul 1992 - Mar 2024
Russia (% Point) 2.0 Mar 2024 monthly Jan 2006 - Mar 2024
Serbia (% Point) 3.4 Mar 2024 monthly May 2014 - Mar 2024
Singapore (% Point) 1.6 Mar 2024 monthly Jan 2000 - Mar 2024
Slovakia (% Point) 0.0 Mar 2024 monthly Jan 1994 - Mar 2024
Slovenia (% Point) -4.4 Feb 2024 monthly May 1996 - Feb 2024
South Africa (% Point) 2.9 Mar 2024 monthly Sep 2000 - Mar 2024
Spain (% Point) -2.1 Mar 2024 monthly Jan 1994 - Mar 2024
Sri Lanka (% Point) -8.2 May 2023 monthly May 2016 - May 2023
Sweden (% Point) 9.6 Mar 2024 monthly Jan 2002 - Mar 2024
Switzerland (% Point) -3.6 Mar 2024 monthly Jan 1996 - Mar 2024
Taiwan (% Point) -3.2 Mar 2018 monthly May 2013 - Mar 2018
Thailand (% Point) -6.6 Mar 2024 monthly Feb 2000 - Mar 2024
Turkey (% Point) -0.6 Mar 2024 monthly Jan 2008 - Mar 2024
Ukraine (% Point) 22.3 Dec 2023 quarterly Sep 2013 - Dec 2023
United Kingdom (% Point) 8.4 Dec 2020 monthly Jan 1986 - Dec 2020
United States (% Point) 7.6 Mar 2024 monthly Jan 1949 - Mar 2024
Uruguay (% Point) -4.1 Dec 2023 monthly Oct 1999 - Dec 2023

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Nigeria Key Series

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Includes 202 key indicators for Nigeria, curated by CEIC analysts. Instant access to full history data in excel.
Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -4.8 Sep 2023 quarterly Dec 2010 - Sep 2023
Consolidated Fiscal Balance (USD mn) -3,071.175 Sep 2023 quarterly Mar 2005 - Sep 2023
National Government Debt (USD mn) 101,710.7 Dec 2023 quarterly Dec 2006 - Dec 2023
Government Debt: % of GDP (%) 39.8 Dec 2023 quarterly Dec 2010 - Dec 2023
Forecast: Government Expenditure (NGN bn) 69,308.370 2028 yearly 1990 - 2028
Forecast: Government Net Debt (NGN bn) 205,772.040 2028 yearly 1990 - 2028
Forecast: Government Revenue (NGN bn) 42,354.640 2028 yearly 1990 - 2028
Federal Govt Balance (NGN bn) -2,347.160 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure: Capital (NGN bn) 1,043.310 Sep 2023 quarterly Mar 2005 - Sep 2023
Gross Federation Account Revenue (NGN bn) 4,791.390 Sep 2023 quarterly Mar 2005 - Sep 2023
Gross Federation Account Revenue: Oil (NGN bn) 814.230 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Revenue (NGN bn) 1,693.020 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure: Recurrent (NGN bn) 2,791.110 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure (NGN bn) 4,040.180 Sep 2023 quarterly Mar 2005 - Sep 2023
Government Debt: Domestic (NGN bn) 53,258.012 Dec 2023 quarterly Dec 2005 - Dec 2023
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 1,889.4 Sep 2023 monthly Jan 2003 - Sep 2023
Total Exports (USD mn) 4,751.7 Dec 2023 monthly Jan 2003 - Dec 2023
Total Exports Growth (%) 82.1 Dec 2023 monthly Jan 2004 - Dec 2023
Aluminum: Exports (USD th) 165,856.846 2022 yearly 1995 - 2022
Exports: Medicament (USD th) 2,876.353 2022 yearly 1995 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 480.530 2022 yearly 1995 - 2022
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) 34.5 Sep 2023 monthly Jan 2004 - Sep 2023
Imports: Medicament (USD th) 755,360.705 2022 yearly 1995 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 508,406.689 2022 yearly 1995 - 2022
Total Exports to USA (USD mn) 332.105 Dec 2023 monthly Jan 2003 - Dec 2023
Total Imports from USA (USD mn) 176.789 Dec 2023 monthly Dec 2009 - Dec 2023
Total Exports to China (USD mn) 24.772 Sep 2023 monthly Jan 2007 - Sep 2023
Total Imports from China (USD mn) 715.679 Sep 2023 monthly Jan 2007 - Sep 2023
Imports (NGN mn) 2,429,185.197 Sep 2023 monthly Jan 2003 - Sep 2023
Exports: Crude Oil (NGN mn) 3,404,818.113 Dec 2023 monthly Jan 2003 - Dec 2023
Total Trade (NGN mn) 6,865,948.584 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: America: ow USA (NGN mn) 299,453.208 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Europe: ow Netherlands (NGN mn) 523,568.988 Dec 2023 monthly Jan 2003 - Dec 2023
Exports (NGN mn) 4,284,566.609 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Europe: ow UK (NGN mn) 93,037.938 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Mineral Products (NGN mn) 24,389,951.388 2022 yearly 2003 - 2022
Exports: Vegetable Products (NGN mn) 316,546.604 2022 yearly 2003 - 2022
Imports: Europe: ow Germany (NGN mn) 68,742.651 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Asia: ow China (NGN mn) 631,502.155 Dec 2023 monthly Jan 2007 - Dec 2023
Imports: Europe: ow Netherlands (NGN mn) 158,090.619 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: America: ow USA (NGN mn) 159,407.643 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Europe: ow UK (NGN mn) 71,966.938 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Manufactured Goods (NGN mn) 184,959.341 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Chemicals and Chemical Products (NGN mn) 385,751.608 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Food and Live Animals (NGN mn) 364,417.505 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 810,486.908 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Machinery and Transport Equipment (NGN mn) 639,703.694 Sep 2023 monthly Jan 2003 - Sep 2023
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 274.7 Dec 2022 quarterly Mar 2008 - Dec 2022
Current Account Balance (USD mn) 2,348.3 Dec 2022 quarterly Mar 2008 - Dec 2022
Current Account Balance: % of GDP (%) 1.8 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Direct Investment (USD mn) 752.7 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Direct Investment: % of GDP (%) 0.6 Dec 2022 quarterly Mar 2010 - Dec 2022
Foreign Portfolio Investment (USD mn) 337.399 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Portfolio Investment: % of GDP (%) 0.3 Dec 2022 quarterly Mar 2010 - Dec 2022
Foreign Portfolio Investment: Equity Securities (USD mn) -2.3 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Portfolio Investment: Debt Securities (USD mn) 339.714 Dec 2022 quarterly Mar 2008 - Dec 2022
External Debt (USD mn) 42,495.2 Dec 2023 quarterly Dec 2006 - Dec 2023
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) 0.890 2028 yearly 1980 - 2028
Net International Investment Position (USD mn) -80,930.532 2022 yearly 2005 - 2022
BoP: CA: Current Transfers (USD mn) 5,442.967 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Capital Account (USD mn) 0.000 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Portfolio Investment (USD mn) -182.419 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Liabilities: Portfolio Investment (USD mn) 1,000.946 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Direct Investment (USD mn) 94.452 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Reserves Assets (USD mn) 1,437.945 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Other Investment (USD mn) -1,699.632 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Goods (USD mn) 2,798.047 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account: Assets (USD mn) -1,085.664 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Income (USD mn) -2,264.294 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Goods: Debit (USD mn) -11,787.111 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Services: Debit (USD mn) -4,428.113 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Income: Debit (USD mn) -2,775.122 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Current Transfers: Debit (USD mn) -505.024 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: Net Errors & Omission (USD mn) -3,201.073 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Services (USD mn) -3,132.845 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Services: Credit (USD mn) 1,295.268 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Current Transfers: Credit (USD mn) 5,452.430 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account (USD mn) 852.759 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Income: Credit (USD mn) 510.828 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account: Liabilities (USD mn) 1,938.423 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account: Liabilities: Other Investment (USD mn) 848.311 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Goods: Credit (USD mn) 14,585.159 Dec 2022 quarterly Mar 2008 - Dec 2022
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government (USD mn) 42,495.160 Dec 2023 quarterly Dec 2006 - Dec 2023
External Debt: Government: International Capital Market (USD mn) 15,118.350 Dec 2023 quarterly Mar 2011 - Dec 2023
Capital Inflow: Foreign Direct Investment (USD) 20,080,525.860 Nov 2022 monthly Jan 2007 - Nov 2022
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) 19,608.589 Feb 2024 monthly Nov 1992 - Feb 2024
Money Supply M2 (USD mn) 60,857.230 Feb 2024 monthly Nov 1992 - Feb 2024
M2 Growth (%) 77.6 Feb 2024 monthly Nov 1993 - Feb 2024
Reserve Requirement Ratio (%) 45.0 Mar 2024 monthly Nov 2005 - Mar 2024
Foreign Exchange Reserves (USD mn) 32,360.0 Nov 2023 monthly Jan 1960 - Nov 2023
Foreign Exchange Reserves: % of GDP (%) 7.771 Sep 2023 quarterly Dec 2010 - Sep 2023
Foreign Exchange Reserves: Months of Import (NA) 8.9 Nov 2023 monthly Jan 2003 - Nov 2023
Gold Reserves (USD mn) 1,273.284 Sep 2023 monthly Dec 1950 - Sep 2023
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) 74,341.2 Feb 2024 monthly Nov 1992 - Feb 2024
Domestic Credit Growth (%) 63.6 Feb 2024 monthly Nov 1993 - Feb 2024
Private Debt: % of Nominal GDP (%) 16.22 Sep 2023 quarterly Dec 2010 - Sep 2023
Monetary Survey: Liabilities: Base Money (NGN mn) 21,230,656.700 Feb 2024 monthly Jan 1993 - Feb 2024
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 63,691,242.700 Feb 2024 monthly Nov 1992 - Feb 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 30,277,249.260 Feb 2024 monthly Nov 1992 - Feb 2024
Monetary Survey: Liabilities: M2 (NGN mn) 93,968,491.960 Feb 2024 monthly Nov 1992 - Feb 2024
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Non Performing Loans to Gross Loans (%) 4.210 Dec 2022 semiannually Dec 2003 - Dec 2022
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) -0.6 Nov 2023 monthly Jul 2015 - Nov 2023

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