NewStats: 3,262,765 , 8,178,079 topics. Date: Tuesday, 03 June 2025 at 01:43 PM o83e

The maiden Nigerian Business Confidence Index (BCI), conducted by the Lagos Chamber of Commerce and Industry, has indicated a negative business expectation for the real sector of the economy in the first quarter of 2013.

LCCI described the BCI survey as a model built on the Organisation for Economic Co-operation and Development (OECD) methodology and integrating the peculiar factors that impact domestic business outcomes in Nigeria.

Speaking at the presentation of the BCI survey in Lagos, the President of the Chamber, Goodie Ibru, disclosed that chamber commenced a series of scientifically evidential measurements of the developments in the Nigerian economy to form the baseline for their advocacy focus.

He disclosed that the country was currently lagging behind the 50 per cent score of global threshold between BCI pessimism and optimism. “Aggregate BCI scores show that business confidence in Nigeria is currently at a record low with a weighted 10.5 per cent,” he said.

“The 2013 first quarter BCI outcome shows that apart from the hotels, telecoms/IT, oil and gas and the finance sectors, business executives in the extractive, processing and trade sectors posted a staggering negative business expectation,” he revealed.

Ibru explained that BCI indicators are designed so that the score fluctuates between zero and 100 per cent and that as investment grows, the indicator would increase with a similar decline if business leaders become more pessimistic.

He said the time has come when the Nigerian government would be aided with results of various surveys to be conducted by interest groups like consultants, the media, research institutes, chambers of commerce and statistics bureaus in the country.

“I am calling on government to give more financial to the National Bureau of Statistics to strengthen its capacity to provide the needed data and statistics for information s in this country. I also task the statistical agencies on timely release of data as appropriate for decision making and planning,” he said.

According to the BCI, when asked whether they will hire new employees in 2013, 85 per cent of business leaders confirmed that they are either considering keeping their current workforce size or slashing it down. This indicates that the official 23.9 per cent unemployment figure in the country is expected to remain sticky in the months to follow.

The BCI also revealed that 98.5 per cent of business executives are planning to expand or open new plant/shop outside Lagos and that the FCT, Port-Harcourt, Ogun, Ibadan and Aba are top locations on their list.

The survey however noted on a sad note that no northern state/city was mentioned among the top 15 alternative investment destinations in 2013.

According to the LCCI Director for Research and Advocacy, Vincent Nwani, the BCI score was found to fluctuate significantly in line with age, size and location of firms in Nigeria. For instance newer companies (1-5years old) and bigger companies (250-over 1,000 employees and over N500million turnover per annum) exhibited a relatively higher optimism.

“The computation of the first BCI for Nigeria will serve as a guide to businesses and investors on the turning points in the economy and a basis for a continuous quarterly BCI survey, analysis and report for the country,” he said.

He added that over the medium term, LCCI plans to employ a time series cross sectional analysis on all the control variables (weighted aggregate, sectors, firms’ size, age and location) and BCI questions to gauge seasonality and business confidence over different political regimes.

He expressed hope that the LCCI Nigerian BCI initiative would find the interest of sustainable financiers/sponsors as obtained in most jurisdictions across the globe.


http://www.thisdaylive.com/articles/ops-predicts-negative-outlook-for-real-sector-in-q1/137126/

Tearing them apart since 1967.

3/6( mark) We rule

Eko Atlantic#:
Tearing them apart since 1967.

3/6( mark) We rule

2/6 precisely. Lagos and Abuja no follow.

Abagworo:


2/6 precisely. Lagos and Abuja no follow.

Lagos is overwhelmed.

It is Definitely 3/6

OOE(u know yourself) better get your act right, no time to check time.

I am tired of seeing the baseless reports which only occur in the figment of the imagination of the anchors, cooked in offices as a result of boredom. Can the researchers give us concrete methodology of the process? Rubbish, thrash.

Frustration must have destabilize(d) your mind, it's killing you softly

all these statistics that are only documented and declared on the absurdity of the creators book with no effect in the long run that may never see the dim light of the day.
Sitting down and waiting for the counterstatistics later by another group.

Mr. Globe:
I am tired of seeing the baseless reports which only occur in the figment of the imagination of the anchors, cooked in offices as a result of boredom. Can the researchers give us concrete methodology of the process? Rubbish, thrash.

Nwanne the op was excited with this crap you know a trash that has not connection with reality.

Imagine a trash compiled by never-do-well ofemmanus and the ediotic op is thrill and excited to open a thread on it..

When ibadan was rated among d 5 cities to watch out 4 it was taken as a joke.
Haters keep hating,while ibadan develops

Something is special about Ibadan that I don't know

chino11:


Nwanne the op was excited with this crap you know a trash that has not connection with reality.

Imagine a trash compiled by never-do-well ofemmanus and the ediotic op is thrill and excited to open a thread on it..

The Lagos Chamber of Commerce and Industry comprises of never-do-wells?
Goodie Ibru too is an 'Yoruba'?

Condoms should be free and abortion also legalized so that mistakes like you do not happen.

Mr. Globe:
I am tired of seeing the baseless reports which only occur in the figment of the imagination of the anchors, cooked in offices as a result of boredom. Can the researchers give us concrete methodology of the process? Rubbish, thrash.

LCCI described the BCI survey as a model built on the Organisation for Economic Co-operation and Development (OECD) methodology and integrating the peculiar factors that impact domestic business outcomes in Nigeria.
Speaking at the presentation of the BCI survey in Lagos, the President of the Chamber, Goodie Ibru, disclosed that chamber commenced a series of scientifically evidential measurements of the developments in the Nigerian economy to form the baseline for their advocacy focus.
He disclosed that the country was currently lagging behind the 50 per cent score of global threshold between BCI pessimism and optimism.

Stupidity is no longer in fashion and blindness is not an excuse for idiocy. Here, help yourself.

The BCI also revealed that 98.5 per cent of business executives are planning to expand or open new plant/shop outside Lagos and that the FCT, Port-Harcourt, Ogun, Ibadan and Aba are top locations on their list.

This write up is nothing but Economic Existentialism by some Local Businessmen in Lagos if this men had their way why arent they making impart in Africa not to talk of the world

This report is just a Perspective of Lagos based Business men , possible if we can get view point of Business men in Kano, Abuja and Port Harcourt,Aba then and only then can we have a balanced Picture of things.

if we are to follow the order the city Lagos is the preferred destination of Business followed by Abuja then Port harcourt the first 3 cities Lagos was the former capital and Abuja the present capital and Port the Oil Capital that i can understand.

How ever the following 3 cities Ogun is a state for God's sake we are talking about Cities and only for some body to call ogun state which city in Ogun are they referring to .
Ibadan follows after ogun possibly because of its status as the largest settlement in Nigeria after Lagos and Kano. Notice Ogun came before ibadan in this assessment . This makes nonsense of the report of Ibadan as one of the cites to watch already 4 cities before it.

Thirdly the City of Aba , Aba in Abia state surprisingly is governed by Someone people claim is a non performer in the east and Aba of all the cities mentioned above is not even a state Capital and has no FG presence apart from the Aba/PH Express way this goes a long way to show that the Federal Government can not determine the Destiny of any city in Nigeria Kudos to the Aba Business men making their City a fertile ground for New Business growth.

Notice how the report cleverly forgot the Northern Cities of Kaduna , Kano, Maiduguri and Jos key commercial Cities that because of insecurity Businesse are running away from.

How about Onitsha the Giant Commercial City in Anambra state are business men not thinking of setting up shops there despite Peter Obi's efforts does Big trading not equate to Economic potentials, Onitsha's Economic potentials has been recognized by the Economist on many occasions and other Business Magazines so do the authors of this report omit anything possibly the looked at things from the Lagos point of Vies.

Jerie:

LCCI described the BCI survey as a model built on the Organisation for Economic Co-operation and Development (OECD) methodology and integrating the peculiar factors that impact domestic business outcomes in Nigeria.
Speaking at the presentation of the BCI survey in Lagos, the President of the Chamber, Goodie Ibru, disclosed that chamber commenced a series of scientifically evidential measurements of the developments in the Nigerian economy to form the baseline for their advocacy focus.
He disclosed that the country was currently lagging behind the 50 per cent score of global threshold between BCI pessimism and optimism.

Stupidity is no longer in fashion and blindness is not an excuse for idiocy. Here, help yourself.

^
if you think the above gibberish is a concrete methodology they used in arriving at their assertions then you need a brain transplant. The above only confirms what I said that these were bored business men just fooling around in their LAGOS OFFICE.

chino11:


Nwanne the op was excited with this crap you know a trash that has not connection with reality.

Imagine a trash compiled by never-do-well ofemmanus and the ediotic op is thrill and excited to open a thread on it..

no mind them. we them.

One thing that bothers me is the kind of attitude shown by some people whenever news of development comes without their State or ethnic group being tops. It is not about ethnic groups or State but all. You do not need a soothsayer to notice that most things we consume in Nigeria are produced in Ibadan, Ogun, Aba and Lagos. What should concern us is why most businesses still prefer those places.

This survey was carried out in Lagos and businesses in Lagos say that they are expanding to those target destinations. I'm sorry chino11 the reality stings like a bee.

If it would make you feel better.....(Business Confidence Index (BCI) 2013. Enugu, Aba, Onitsha, Owerri, Awka top).

Abagworo: One thing that bothers me is the kind of attitude shown by some people whenever news of development comes without their State or ethnic group being tops. It is not about ethnic groups or State but all. You do not need a soothsayer to notice that most things we consume in Nigeria are produced in Ibadan, Ogun, Aba and Lagos. What should concern us is why most businesses still prefer those places.

This survey was carried out in Lagos and businesses in Lagos say that they are expanding to those target destinations. I'm sorry chino11 the reality stings like a bee.

You dey mind them? Enemies of the people.

ba7man: If it would make you feel better.....(Business Confidence Index (BCI) 2013. Enugu, Aba, Onitsha, Owerri, Awka top).

You mean the Kidnappers Confidence Index?

chino11:


Nwanne the op was excited with this crap you know a trash that has not connection with reality.

Imagine a trash compiled by never-do-well ofemmanus and the ediotic op is thrill and excited to open a thread on it..

u are simply mad because the great state of Anambra want mentioned. Anyway its good to note also that Goodie Ibru is also an ofemmanus

Abagworo: One thing that bothers me is the kind of attitude shown by some people whenever news of development comes without their State or ethnic group being tops. It is not about ethnic groups or State but all. You do not need a soothsayer to notice that most things we consume in Nigeria are produced in Ibadan, Ogun, Aba and Lagos. What should concern us is why most businesses still prefer those places.

This survey was carried out in Lagos and businesses in Lagos say that they are expanding to those target destinations. I'm sorry chino11 the reality stings like a bee.

Which reality fool? You mean the business that are taking place on the pages of newspaper Lol
When we all know where the real investment expansion are really taking place lol.

chino11:

Which reality fool? You mean the business that are taking place on the pages of newspaper Lol
When we all know where the real investment expansion are really taking place lol.

So where is the real investment mpam?

Jerie:

You mean the Kidnappers Confidence Index?

The Kidnapping came as a result of Economic Displacement , i there was no Business there would not be Business men to Kidnap or do people kidnap invalids

In a cash economy like ours,the number of banks should tell you where the business is taking place,as banks follow cash flow. After lagos state which other state has the highest number of bank branches? Yea you got it right,it's the Almighty Anambra.

kettykin:

The Kidnapping came as a result of Economic Displacement , i there was no Business there would not be Business men to Kidnap or do people kidnap invalids

Yes. Businesses like the kidnapping of Nkiru Sylvannus and other political appointees in the East!

pazienza: In a cash economy like ours,the number of banks should tell you where the business is taking place,as banks follow cash flow. After lagos state which other state has the highest number of bank branches? Yea you got it right,it's the Almighty Anambra.

You're not entirely correct, anambra comes after lagos, abuja and rivers.
So, anambra is number four among 10 states with the highest concentration of banks in Nigeria, following closely after anambra's 5% of all banks in the country is oyo and then ogun.
Anambra being the only eastern state among the 10 states with the highest bank branches in the country.
So you're right and wrong.

And lagos has 31% of all banks in the country by the way.

Honestly, I'm seriously sick and tired of all this. Chino and co, can't we all accept criticism in a positive light? Someone like me who thrives on data, because having data better helps us, I actually read through the whole thing, and for once, I'm pleased that some group has taken the initiative to aid BLS in their statistics.

Some points to note...

1. The stats was based on few item indicators - Hiring, expansion and growth etc

2. These cities being in the top 5 "WASN'T" cherry picked, but based on a survey model from companies who where likely to expand "OUTSIDE" Lagos. So if there was 50 companies regardless of their location, and their CEO's were asked, where will you like to expand further, "IF EVERYTHING REMAINED UNCHANGED" survey proved that these were the top five cities. Hence the "Confidence Index".

The stats doesn't put any state down, what the index is only proving is where the expansion confidence is at the moment. However, I also like to note that though we may not know the approach on his this was carried out (because that plays an integral part), however, businesses are more likely to expand into cities with potentials --- FACT.

The report also stated that it just a baseline and with time, they will use the time series model. So biko, nwanne because Anambra is not on the list doesn't mean that companies aren't expanding. It may surprise you to know that perhaps Innoson was part of the survey model who wishes to expand to Lagos or Ibadan or even Aba... Hope you get my drift.

We can no longer have a good discussion on NL because the usual derailers get mad and upset over anything that doesn't favor their tribe.

Why not just ignore these threads and find something better or possitive about your own tribe to celebrate instead of derailing threads, disturbing other people and throwing tantrums all over the place.

manny4life: Honestly, I'm seriously sick and tired of all this. Chino and co, can't we all accept criticism in a positive light? Someone like me who thrives on data, because having data better helps us, I actually read through the whole thing, and for once, I'm pleased that some group has taken the initiative to aid BLS in their statistics.

Some points to note...

1. The stats was based on few item indicators - Hiring, expansion and growth etc

2. These cities being in the top 5 "WASN'T" cherry picked, but based on a survey model from companies who where likely to expand "OUTSIDE" Lagos. So if there was 50 companies regardless of their location, and their CEO's were asked, where will you like to expand further, "IF EVERYTHING REMAINED UNCHANGED" survey proved that these were the top five cities. Hence the "Confidence Index".

The stats doesn't put any state down, what the index is only proving is where the expansion confidence is at the moment. However, I also like to note that though we may not know the approach on his this was carried out (because that plays an integral part), however, businesses are more likely to expand into cities with potentials --- FACT.

The report also stated that it just a baseline and with time, they will use the time series model. So biko, nwanne because Anambra is not on the list doesn't mean that companies aren't expanding. It may surprise you to know that perhaps Innoson was part of the survey model who wishes to expand to Lagos or Ibadan or even Aba... Hope you get my drift.

oh really? lol. Do you really believe you made any point here?

Mr. Globe:

oh really? lol. Do you really believe you made any point here?

LMAO... Bro,this is not about making points, like seriously? I don't give a hoot about making point, I'm not here for that. This is reality, whether you accept it or not, this is what it is.

You can either accept it or not. My statement was VERY CLEAR. There isn't a state that isn't growing, but the highest number of interest is what the article is relaying with emphasis on expansion.

It is good to realize that Lagos State, Oyo State (Ibadan) and Ogun State are comparable to cities such as Aba and Port Harcourt according to Business Confidence Index (BCI). The funny thing remains the inherent loudmouthed jackasses still could not control their mouths.