Households expect prices to rise in coming months
Businesses and households across Nigeria have listed high interest rates, multiple taxes, and poor infrastructure as key challenges in September, according to the Central Bank of Nigeria (CBN).
In its Business Expectation Survey for September 2025, the CBN said the Confidence Index stood at 31.5 points, showing optimism about the economy, projected to rise to 51.8 points in six months.
Respondents identified high bank charges (70.8%), multiple taxation (70.8%), and poor infrastructure (70.7%) as top business constraints. Limited access to credit and high operating costs also weighed on performance, while power supply (37.8%) and competition (40.4%) ranked lowest.
Meanwhile, the CBN’s Households Expectations Survey showed Nigerians expect prices to keep rising. The Consumer Sentiment Index improved slightly to -6.4 points from -7.2 in August, indicating reduced pessimism.
The Family Financial Situation Index rose to -16.5 points, while Family Income Sentiment turned positive at 0.1 points — the first improvement since April 2025.
In the Inflation Expectation Survey, 73.9 percent of rural residents viewed inflation as high, compared to 72.4 percent in urban areas, suggesting rising prices continue to burden households nationwide.