The Lagos Chamber of Commerce and Industry in its 3rd quarter 2014 Business Confidence Index (BCI) indicated that the index dropped from 19.4% in q2-2014 to 14.3%.
Representing a 5.1% point slack of the confidence level among business operators over the last three months.
The Director of Research and Advocacy of the Lagos Chamber of Commerce and Industry, Mr Vincent Nwanni, who was on Business Morning to analyse the report, says the drop of the BCI scores at this time suggests that business leaders are largely pessimistic about expanding their investment over the next few months.
BCI is a leading economic indicator designed to measure the degree of optimism on the state of the economy that business leaders are expressing through their activities of investing and spending.
