Director General of MAN, Segun Ajayi-Kadir, said the improvement reflected manufacturers’ optimism about the direction of government reforms rather than any significant improvement in current operating conditions. He, however, noted that the optimism remained fragile as manufacturers continued to face severe operational challenges. Actual business and employment conditions during the second quarter remained weak, with both indicators still below the 50-point threshold, reflecting subdued business activity,” Ajayi-Kadir stated. In the same vein, NESG’s latest Business Confidence Monitor showed that Nigeria’s business environment recorded stronger expansion in July 2026, despite rising operating costs. The overall Current Business Performance Index stood at 108.6 points, up from 104.6 points in June 2026 and 105.4 points in July 2025.