According to the Nigerian Economic Summit Group (NESG), business activity in Nigeria expanded strongly in September, reaching a Business Performance Index (BPI) of 117.8 points, up from 112.7 points in August. The surge is attributed to increased demand for goods and services ahead of the upcoming elections and the year-end festive season. The report, which was published by Vanguard News, states that the index’s sub-indices showed a general improvement in all areas, including employment, production, and new orders. This growth is a positive sign for the Nigerian economy, especially as the country prepares for critical elections in the coming months. The elections, scheduled for early 2027, are expected to drive significant spending and stimulate economic activity. The festive season, which includes Christmas and New Year, is also a period of increased consumer spending, contributing to the overall growth. The report comes as the Nigerian government continues its efforts to attract foreign investment and improve the business environment. In a separate report, published by Vanguard News, Senator Onoh reassured Senator Rubio that Nigeria remains a sovereign nation open for business. According to Onoh, the Nigerian government is committed to fostering a conducive business environment that encourages local and foreign investment. The reports highlight the potential for economic growth in Nigeria, particularly in the run-up to the elections and the holiday season.
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