PwC Nigeria has reported that most Nigerian Chief Executive Officers are optimistic about the nation’s and global growth prospects this year, despite the current uncertainties in the global economic landscape.
The economic research and consulting services firm hinged this projection on the findings of its just published 28th Annual Global CEO Survey: Nigerian Perspective
The survey, which gave insights into business leaders’ perspectives across industries, indicated that 61% of Nigerian CEOs expected the global economic growth to improve while 64% were anticipating positive shifts in Nigeria’s economy in 2025.
The survey’s findings also showed that in terms of commitment to strategic reinvention, 61% of the CEOs had expanded into new sectors over the past five years, while 67% saw AI as a catalyst for innovation in products and services.
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Commenting on the survey, , Regional Senior Partner, West Market Area, PwC Nigeria, Mr. Sam Abu, said: “Thriving in Nigeria’s competitive business landscape demands resilience and strategic foresight from CEOs. Despite economic challenges like inflation and macroeconomic volatility, our survey shows Nigerian business leaders remain optimistic—not just about survival but about transformation. CEOs are actively reshaping their business models to seize emerging opportunities by venturing into new sectors, leveraging technology, and engaging with evolving customer segments.
“For CEOs yet to embrace this shift, the moment to act is now. Navigating disruption and megatrends requires a long-term vision and clear reinvention priorities, from business model transformation and generative AI adoption to sustainability strategies. The risk of delay can cause a widening gap between forward-thinking organisations and those struggling to keep pace”, Abu added.
On great expectations in economic prospects, the survey reflected that the CEO confidence in global economic growth remained rising, marking a notable shift in sentiment.
Specifically in Nigeria, 61% of CEOs expect an improvement in the next 12 months, mirroring optimism across Sub-Saharan Africa 63% and globally 58%. This contrasts sharply with previous years—only 38% were optimistic last year, and a mere 18% two years ago.
PwC’s survey highlights how Nigerian CEOs are future-proofing their businesses, embracing generative AI for efficiency, reshaping business models, and tackling climate-related challenges to secure long-term viability.
As global forces reshape the business landscape, the survey found that Nigerian CEOs stood at a critical phase, demonstrating the urgency for them to reinvent business models stems from key imperatives, including ensuring long-term viability, adapting to disruption and megatrends, and effectively managing evolving risks.
In his remarks on the survey’s results, Partner and Clients and Markets Leader, West Market Area, PwC Nigeria, Pedro Omontuemhen, said: “With four in ten Nigerian CEOs uncertain about their businesses’ long-term viability, reinvention is no longer optional; it’s essential. True transformation goes beyond strategy, requiring a fundamental shift in value proposition, market approach, profit model, and operational capabilities to secure sustainability. In an era of rapid change, the most successful organisations will be those that embed agility into decision-making and align reinvention with long-term value creation.”
The PwC report underscores the most pressing concerns for CEOs over the next 12 months. Inflation tops the list, with 58% of respondents feeling highly or extremely exposed, far exceeding the global average of 27% and 42% in Sub-Saharan Africa.
Other major risks identified during the survey by the researchers included macroeconomic volatility 39%, a shortage of skilled workers 31%, and both geopolitical conflict and cyber threats 25%.
