Firms in various sectors of the economy have expressed optimism about positive outlook of the macro-economy indices in April 2026 just as have they identified issues of insecurity, high/ multiple taxes, high interest rate, high bank charges and competition as business constraints during the period.
This is according to the Central Bank of Nigeria’s (CBN) reports in its “Business Expectations Survey (BES)” for April 2026 released on Friday. The report said that confidence in April 2026 stood at 3.9 index points, “With sentiments on the economy reflecting a mixed outlook,” adding that the industry sector recording the highest confidence.”
It further stated that: “While optimism is largely underpinned by improved expansionary policy measures (19%), access to finance (13%), and expectations of economic diversification (13%) more cautious sentiments reflect ongoing energy-related challenges (35%) governance concerns (33%), and elevated geopolitical uncertainties (14%).”
The report also said that the outlook over the next six months remains strong, “With confidence indices in all sectors reflecting continued positive sentiment over the review periods.”
Specifically, it stated that all regions expressed positive expectations for the next month, three months, and six months, “with the North-East demonstrating the highest level of optimism across all time periods,” while respondents in the south displayed a more cautious outlook.
On business constraints, the report said: “Survey responses for April 2026 indicated that Insecurity (74.1), High/Multiple Taxes (70.5), High Interest Rate (67.4), High Bank Charges (62.8) and Competition (61.8) ranked as the top five (5) business constraints indicating that the business environment was shaped more by risk and cost pressures rather than by demand-related factors.
“At the bottom of the top ten constraints were Financial Problems (59.6) and Poor Infrastructure (58.9).” Interestingly, the report stated that: “Respondents anticipate a gradual appreciation of the naira against the US dollar over the review horizon, as evidenced by consistently positive indices. Concurrently, borrowing costs are expected to remain elevated across the same periods.”
Meanwhile, the apex bank also on Friday released its “Household Expectations Survey Report” for April 2026. According to the report: “The overall consumer sentiments in April 2026 stood at -15.1 index points compared to -10.3 index points recorded in March 2026, indicating a modest uptick in the pessimistic outlook on the macro-economy.”
It also stated that: “The Economic Conditions index posted -22.4 points, indicating a pessimistic outlook among households regarding economic conditions in April 2026.”
