Nigerian Chief Executive Officers are grappling with inflation and macroeconomic volatility, the 28th Annual Global CEO Survey of PwC has revealed.
The survey, based on feedback from 4,701 CEOs worldwide, including Nigeria, shows that 58 per cent of Nigerian CEOs cite inflation as a major concern, while 39 per cent are worried about macroeconomic volatility.
Despite these pressures, 61 per cent of Nigerian CEOs remain optimistic about the domestic economy’s growth over the next 12 months, a sharp increase from 38 per cent in the previous year’s survey.
PwC’s findings indicate that Nigerian CEOs are adopting strategic measures to adapt to the current economic environment. About 61 per cent are exploring new sectors, while 56 per cent are targeting new customer segments. These actions reflect a clear shift toward reinvention, with business leaders focusing on long-term sustainability.
“CEOs remain optimistic about the economy, with nearly 60 per cent of CEOs globally and 61 per cent in Nigeria anticipating a rise in economic growth over the next 12 months, up from 38 per cent in last year’s global survey.
“Despite a local economy marked by inflationary pressures and macroeconomic volatility, with 64 per cent expressed confidence in the growth of the domestic economy. In response to growing economic pressures, CEOs in Nigeria are reinventing their operations and business models to create value in new ways,” the report added.
The Regional Senior Partner, West Market Area, PwC Nigeria, Sam Abu, commented,“Nigerian CEOs are not just looking to survive. They’re focused on transforming their business models to seize new opportunities in this volatile environment.”
According to the report, Artificial Intelligence is emerging as a key focus for Nigerian CEOs, with 81 per cent planning to integrate AI into their operations within the next three years.
This reflects a growing belief in AI’s potential to drive growth and innovation in an increasingly competitive market.
The report shows that 67 per cent of Nigerian CEOs have made climate-friendly investments over the past five years, and 61 per cent have linked executive incentives to sustainability performance.
While Nigerian CEOs are optimistic about economic growth, they acknowledge the risks. The survey identifies inflation and macroeconomic volatility as the primary threats in 2025. Nevertheless, the focus on innovation, AI, and sustainability is driving strategic reinvention across Nigerian businesses.
“CEOs who haven’t yet adapted must act now,” Sam Abu warned. “The gap between businesses embracing transformation and those lagging behind will only continue to grow.”
