Business
Nigerian CEOs Bullish on 2025 Economic Outlook – PwC Survey
Business leaders in Nigeria are increasingly optimistic about the nation’s economic prospects in 2025, according to PwC Nigeria’s 28th Annual Global CEO Survey. The report reveals a significant shift in sentiment, with 64% of Nigerian CEOs expecting improvements in the domestic economy and 61% projecting global economic growth in the next 12 months.
The survey, which captures insights from CEOs across industries, paints a picture of strategic reinvention and resilience amid ongoing economic challenges. Over the past five years, 61% of Nigerian CEOs say they have diversified into new sectors, while 67% are leveraging artificial intelligence (AI) to drive innovation in products and services.
Sam Abu, Regional Senior Partner, West Market Area, PwC Nigeria, said the findings reflect a forward-thinking business community navigating tough conditions with agility.
“Despite inflationary pressures and macroeconomic uncertainty, Nigerian CEOs are not just aiming to survive—they’re striving to transform. They are reimagining their business models to tap into emerging opportunities through technology, sector diversification, and a deeper understanding of evolving consumer needs,” Abu said.
He urged business leaders who have yet to pivot to act quickly, warning that the gap between adaptive organisations and those lagging behind could widen without bold reinvention strategies.
Confidence Grows Amid Shifting Global Outlook
The renewed confidence in economic growth represents a major turnaround. Only 38% of Nigerian CEOs were optimistic about global prospects in 2024, and just 18% the year before. The current 61% optimism aligns with sentiment across Sub-Saharan Africa (63%) and exceeds the global average of 58%.
PwC noted that Nigerian CEOs are embracing generative AI, reconfiguring their business operations, and preparing for climate-related risks to build future-ready organisations.
Reinvention Now a Business Imperative
With mounting global disruptions and megatrends reshaping industries, PwC stressed that business model reinvention is no longer optional for Nigerian companies.
Pedro Omontuemhen, Partner and Clients and Markets Leader, West Market Area, PwC Nigeria, highlighted that 40% of Nigerian CEOs are unsure about their company’s long-term viability.
“To secure sustainability, transformation must be comprehensive,” Omontuemhen said. “This involves redefining core value propositions, reshaping market strategies, adjusting profit models, and strengthening operational capabilities. Agility and long-term value creation must now go hand in hand.”
Top Concerns for Nigerian CEOs
The survey also reveals the most pressing challenges facing Nigerian business leaders. Inflation leads the list, with 58% of CEOs saying they feel highly or extremely exposed—more than double the global average of 27% and significantly higher than Sub-Saharan Africa’s 42%.
Other key concerns include macroeconomic volatility (39%), a shortage of skilled talent (31%), and geopolitical instability and cyber threats (25% each).
As PwC’s report shows, Nigerian CEOs are preparing for the future with a mix of cautious optimism and a firm commitment to strategic reinvention, seeking not only resilience but long-term relevance in an evolving global economy.