Despite persistent inflation and economic uncertainty, Nigerian business leaders remain confident about the country’s economic prospects and the success of their organisations, according to the latest PricewaterhouseCoopers (PwC) Global CEO Survey.
The 28th edition of the annual survey, which captured insights from 4,701 chief executives across the globe, including respondents from Nigeria, paints a surprisingly optimistic outlook. Notably, 61% of Nigerian CEOs expect economic growth to improve in the next 12 months, a sharp rise from 38% recorded in last year’s global survey. This figure is also slightly above the 60% global average.
In an economy grappling with inflation and macroeconomic volatility, 64% of Nigerian CEOs expressed confidence in the growth of the domestic economy, highlighting a resilient business mindset.
The report reveals that Nigerian CEOs are not resting on optimism alone, they are actively reengineering their business models to thrive amid change. Key areas of focus include strategic reinvention, the integration of Generative AI (GenAI), and sustainability. A majority of the respondents indicated they are expanding into new sectors (61%) and targeting fresh customer segments (56%) as part of their growth strategies.
Artificial Intelligence (AI) is emerging as a game changer. An overwhelming 81% of Nigerian CEOs expect to embed AI into their operations within the next three years, reflecting a growing awareness of its transformative potential.
While climate-related risks are not seen as an immediate threat, business leaders are not ignoring environmental concerns. The survey shows that 67% of CEOs in Nigeria have made climate-friendly investments over the past five years. Furthermore, 61% of them now tie executive compensation to sustainability performance, an indication that long-term success is increasingly being measured beyond the financial bottom line.
The findings highlight a dynamic shift in leadership mindset, with Nigerian CEOs demonstrating agility, innovation, and a readiness to seize new opportunities even in the face of daunting economic realities.