A recent report by the Nigeria Economic Summit Group (NESG) highlights a notable upswing in business activity, driven by advancements in manufacturing, services, and trade during May 2026. This growth reflects a broader recovery trend in Nigeria’s economy, which has faced significant challenges in recent years, including inflation and supply chain disruptions.
The NESG Business Confidence Monitor (BCM) indicates that manufacturing output has rebounded, aided by improved access to raw materials and a resurgence in consumer demand. Similarly, the services sector, particularly hospitality and retail, has seen increased patronage, signaling a return to normalcy post-pandemic. "The synergy between manufacturing and trade is crucial for sustainable growth," stated Dike Onwuamaeze, an NESG analyst.
While these developments are promising, stakeholders remain cautious, emphasizing the need for continued investment in infrastructure and policy reforms to sustain momentum. As businesses adapt to evolving market conditions, the focus will likely shift towards enhancing productivity and innovation. The outlook for the coming months suggests that if these trends continue, Nigeria may be on a path to a more resilient and diversified economy.