Businesses in Nigeria identified high bank charges, poor infrastructure, and insecurity as major obstacles to their operations in December 2024.
The revelations are in the Central Bank of Nigeria’s (CBN) latest Business Expectations Survey.
The survey highlighted six critical constraints affecting business confidence: high bank charges, poor infrastructure, an unfavourable economic climate, insecurity, limited access to credit, and an unfavourable political climate.
Despite these hurdles, respondent firms maintained optimism about the macroeconomic outlook, underpinned by expectations of a stronger exchange rate, increased business activity, and a favourable volume of total orders.
“The overall capacity utilisation is positive for December 2024 with the Mining sector being the most positive; All three broad sectors expressed optimism on the macroeconomy in the review month.
“Respondent firms were optimistic about the volume of business activities in December 2024…
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