Nigerian CEOs are reimagining growth in an age of uncertainty

In the halls of boardrooms from Lagos to Kano, amid headlines of persistently high inflation, currency depreciation, foreign exchange volatility and mounting geopolitical unease, a quiet but powerful story is unfolding.

It is a story not of resignation, but reinvention. Not of despair, but deliberate optimism.

The 28th Annual Global CEO Survey by PwC, focusing on Nigerian business leaders, captures a moment of transformation. A turning point. One where challenges are acknowledged, but so too is the unmistakable will to rise above them.

Welcome to the new playbook of the Nigerian CEO.

Betting on Growth in an Era of Fragility

The numbers tell a compelling story: 61% of Nigerian CEOs expect economic growth in the next 12 months, a figure that surpasses the global average by 23 percentage points.

It is not blind optimism. It is strategic conviction, rooted in resilience shaped by decades of navigating turbulence. These leaders are not just hoping for better days; they are actively engineering them. In a country where unpredictability is almost baked into the business model, this belief in growth is itself a form of leadership capital.

Strategic Reinvention: The New Corporate Currency

Forty-two per cent of Nigerian CEOs believe their current business models won’t survive the next decade without reinvention. So, they are not waiting.

They are moving. Boldly.

61% have entered new sectors
56% have expanded into new customer segments
42% have introduced fresh pricing models
39% have explored new market routes

These are not incremental shifts, they are strategic pivots. This tells us something powerful: Nigerian CEOs understand that survival now means perpetual motion. In a volatile economy, reinvention isn’t optional. It’s existential.

GenAI: From Buzzword to Backbone

When asked about the future, Nigerian CEOs point not just to policy or capital, but to Generative Artificial Intelligence (AI). And not in vague terms. In committed, concrete action.

81% plan to integrate AI within three years.
83% expect AI to be embedded across their tech infrastructure.
67% predict AI will drive new product/service development—more than double the global average.

This is more than enthusiasm; it is infrastructure in the making. For Nigerian business leaders, AI is not here to replace the workforce but to augment it, driving smarter decisions, improving operations, and scaling innovation with speed.

In this vision, technology doesn’t replace talent, it redefines it.

Sustainability: From Afterthought to Asset

Despite just 3% of Nigerian CEOs ranking climate change as a top concern, their actions speak louder than perceptions.

67% have invested in climate-positive initiatives.
61% link executive incentives to sustainability outcomes.

This is not just corporate responsibility, it’s strategic repositioning. Climate action, once viewed as a regulatory box to check, is now a lever for long-term value and innovation. CEOs are aligning incentives, restructuring priorities, and preparing for global environmental, social and governance (ESG) frameworks such as the IFRS Sustainability Disclosure Standards, which will become mandatory for public interest entities in Nigeria by 2028.

They are no longer asking, “Can we afford to act on climate?” They are asking, “Can we afford not to?”

Navigating the Rough Terrain: The Six Threats at the Top

Even amid optimism, the path forward is steep and uneven. The pressures are real, and CEOs are unflinchingly clear-eyed about them:

Inflation (58%) – Eating into margins and consumer power.
Macroeconomic Volatility (39%) – Currency swings and policy unpredictability.
Talent Shortages (31%) – A paradox in a youthful nation.
Geopolitical Conflict & Cyber Risk (25% each) – Threats beyond the boardroom.
Technological Disruption (22%) – The race to keep up.
Social Inequality & Climate Risk (14% & 3%) – Still lagging, but gaining traction.

These aren’t merely statistics; they are the backdrop against which bold decisions must be made. Nigerian CEOs are navigating these landmines not with fear, but with informed urgency.

Read also: Nigerian CEOs bullish on economic rebound amid market volatility

The CEO Agenda: Four Moves That Matter

PwC’s insight doesn’t just highlight challenges, it illuminates a path forward:

1. Accelerate Digital Transformation

Leverage GenAI not just for automation, but for strategy, products, and people.

2. Build Better Decision Systems

Move from gut feeling to data-driven foresight, balancing analytics with human wisdom.

3. Reinvent Business Models

Think beyond legacy models. Innovate pricing, channels, and market engagement.

4. Make Sustainability Strategic

Embed ESG goals deep into planning. Not compliance, competitiveness.

The Bigger Picture: Why This Moment Matters

In many ways, Nigerian CEOs are standing at the edge of a continental narrative. Africa is expected to house a quarter of the world’s population by 2050. Its consumers are young, mobile-first, and digitally native. Its entrepreneurs are bold, and its challenges are also opportunities in disguise.

Nigerian CEOs, perhaps more than any others on the continent, understand this duality. They lead in an economy that demands agility, in a society that craves progress, and in a world where perception is shifting—from seeing Africa as a risk, to recognising it as a return.

Final Word: Reinvention as Resilience

The real headline is not just that Nigerian CEOs are optimistic. It is that their optimism is active.

They are redesigning businesses. They are investing in digital infrastructure. They are greening their operations. They are imagining a new kind of value, one that includes profit, people, and the planet.

In an age of disruption, reinvention is the most resilient response.

Nigerian CEOs are showing us what leadership looks like when it embraces uncertainty, not as a threat to stability, but as a catalyst for growth.

“Where others see uncertainty, we see uncharted opportunity,” Sam Abu, regional senior partner, PwC Nigeria, said.

That one sentence sums up the spirit of this moment. And the Nigerian CEO? They are not just adapting to the future. They are helping shape it.