A growing number of Nigerian CEOs are optimistic about the economic outlook in 2025, with a majority projecting both global and domestic recovery despite persistent macroeconomic challenges.
This is according to the Nigerian findings of PwC’s 28th Annual Global CEO Survey released Wednesday entitled, ‘From resilience to recovery.’
The report shows that 64% of Nigerian CEOs expect the local economy to improve in the next 12 months, while 61% are confident in global economic growth; a dramatic rebound from the 38% optimism recorded last year and just 18% two years ago.
The optimism comes as Nigerian business leaders confront one of the most volatile economic environments in decades, marked by high inflation, exchange rate instability, and a weak consumer base. Yet, PwC says the mood has shifted from survival to strategic reinvention.
“Despite economic challenges like inflation and macroeconomic volatility, our survey shows Nigerian business leaders remain optimistic—not just about survival but about transformation,” according to Abu, regional senior partner for PwC West Market Area.
“CEOs are actively reshaping their business models to seize emerging opportunities by venturing into new sectors, leveraging technology, and engaging with evolving customer segments”, he added.
According to the report, 61% of Nigerian CEOs have expanded into new sectors in the past five years, while 67% see artificial intelligence as a catalyst for product and service innovation.
The report suggests that AI, along with sustainability strategies and customer-centric reinvention, is now central to how Nigerian firms are future-proofing themselves.
However, the path to reinvention is not without risk. According to the survey, 58% of Nigerian CEOs feel highly or extremely exposed to inflation, far above the global average of 27%.
Other pressing risks include macroeconomic volatility (39%), a shortage of skilled workers (31%), and rising threats from geopolitical instability and cyberattacks (both at 25%).
“With four in ten Nigerian CEOs uncertain about their businesses’ long-term viability, reinvention is no longer optional; it’s essential,” says Pedro Omontuemhen, partner and clients and markets leader at PwC Nigeria.
“True transformation goes beyond strategy. It demands a fundamental shift in value proposition, profit model, and operational agility.”
The survey captures insights from 4,701 CEOs across 109 countries, including Nigeria, conducted between October and November 2024. It reveals a Nigerian private sector that is adapting to rapid global shifts, albeit with mounting pressures at home.
What stands out, analysts say, is that Nigerian CEOs are not just waiting for economic recovery; they are positioning their organisations to lead it.
As PwC’s report concludes, the Nigerian business landscape in 2025 will reward those who act boldly: “The most successful organisations will be those that embed agility into decision-making and align reinvention with long-term value creation.”
