In the face of ongoing economic uncertainty, Nigerian business leaders are making bold moves by investing in artificial intelligence and expanding into new markets.
A recent CEO survey reveals that 72% of Nigerian executives expect AI to significantly transform their workforce and skills strategy—more than their counterparts across Africa and globally.
The report also shows that 61% of Nigerian CEOs consider AI a core part of their business strategy, with 67% believing it will drive the creation of new products and services. These figures reflect a growing confidence in AI as a tool for innovation and competitiveness, even as inflation and a widening skills gap remain top concerns.
Over half of the CEOs surveyed say they feel highly exposed to inflation, and 31% are worried about the shortage of talent needed to power their tech ambitions. Despite these challenges, Nigerian businesses are actively adapting. About 61% have entered new sectors over the past five years, while 56% have expanded their customer base—both outpacing regional and global averages.
New pricing models and go-to-market strategies are also gaining traction, as CEOs work to reinvent their business models. Still, 42% admit their current businesses may not survive the next ten years without significant transformation.
To stay ahead, the report encourages Nigerian companies to embed AI across their operations, scale across markets and industries, sharpen their strategic planning, and integrate climate considerations into their long-term goals.
