Nigerian CEOs bet big on AI, new markets amid economic uncertainty – PwC survey 

The report reveals that 72% of Nigerian CEOs expect AI to significantly transform their workforce and skills strategies, outpacing their peers in Sub-Saharan Africa (60%) and globally (68%).

More than six in ten Nigerian CEOs (61%) also believe AI will become a central pillar of their business strategy, slightly ahead of the 58% recorded across Africa and globally.

PwC’s findings suggest AI is not just a buzzword in Nigerian boardrooms, it is becoming a key driver of innovation.

According to the report, about 67% of Nigerian CEOs believe AI will spur the development of new products and services, far higher than the 30% global average, showing the country’s growing appetite for tech-driven growth.

“The data tells a story of CEOs who are under pressure, but also ambitious and willing to embrace innovation,” said PwC Nigeria’s Country Senior Partner, as highlighted in the report.

In response to economic pressure and evolving business landscapes, the report shows that Nigerian CEOs are already pivoting.

The report shows that nearly 42% of CEOs believe their businesses may not be viable in the next ten years without major transformation, reinforcing the urgency for continued innovation and diversification.

To navigate uncertainty and stay ahead, PwC advises Nigerian CEOs to:

According to PwC, the 28th Annual Global CEO Survey, based on responses from 4,701 CEOs across the globe, including Nigeria, reveals a narrative of opportunity and optimism. Despite economic uncertainty, CEOs in Nigeria remain optimistic about the economy and their business’s success.