PwC Report: 9 in 10 Nigerian CEOs Expect Economic Improvement in Next 12 Months

• Cyber risks, skills scarcity, rapid AI pace emerge new priorities

• 25% of business leaders expect to restructure their tax obligations

Emmanuel Addeh in Abuja

Nine in 10 Nigerian CEOs expect the country’s economy to improve over the next 12 months, marking a massive surge in business optimism as macroeconomic pressures begin to ease, according to the newly released PwC’s 29th Global CEO Survey.

The report tagged: “Leading with Confidence Amid Uncertainty and Evolving Threats”, also showed that 91 per cent of local executives are bullish about Nigeria’s growth trajectory in 2026, up from 64 per cent last year.

Besides, this confidence is significantly higher than global trends, with 56 per cent of Nigerian CEOs expressing extreme certainty in their own company’s revenue growth, compared to just 30 per cent of their peers worldwide.

While inflation and volatility are no longer the top concerns, the report revealed that leaders are now pivoting their focus toward internal transformation. Issues such as cyber risks, the scarcity of key skills, and the rapid pace of Artificial Intelligence (AI) adoption have emerged as the new priorities for the year ahead.

“This confidence is emerging amidst a changing threat landscape. Macroeconomic pressures have eased, with the share of CEOs citing inflation as a high concern falling to 34 per cent and macroeconomic volatility to 25 per cent. At the same time, firm-level risks are more prominent.

“Cyber risk and availability of key skills are now the most cited threats, each reported by 38 per cent of CEOs. Technological disruption (25 per cent), geopolitical conflict (25 per cent), and tariffs (22 per cent) also feature strongly, shifting leadership focus toward execution capability, resilience, and risk management,” the report added.

In the same vein, the share of leaders citing inflation as a high concern has plummeted from 58 per cent last year to 34 per cent in 2026. Similarly, perceived exposure to macroeconomic volatility has dropped from 39 per cent to 25 per cent. These changes, the report suggested, point to a “more predictable operating environment” that allows for longer-term planning.

However, this relief is being met by a rise in “firm-level” and operational risks. Cyber risks and the availability of key skills have emerged as the twin titans of concern, with each cited by 38 per cent of Nigerian CEOs as top-tier threats.

The report described the availability of key skills as being “shaped by migration, growing need and competition for people with key skills.” This has led to a recommendation that CEOs must “treat talent strategy as a growth strategy” to maintain execution capacity in a highly competitive labor market, it stated.

Besides, half of the CEOs surveyed (50 per cent) identified the “pace of technological change, including AI” as their most pressing concern. Current AI adoption in Nigeria is characterised by “defined use cases rather than enterprise-wide transformation,” the report added.

According to the findings, 25 per cent of CEOs are applying AI extensively to demand generation activities such as sales, marketing, and customer service.

Nearly half (47 per cent) reported that their companies have begun competing in new sectors within the past five years. The report identified Technology (28 per cent), Power and Utilities (25 per cent), and Telecommunications (22 per cent) as the most attractive sectors for expansion over the next three years, followed closely by Asset and Wealth Management and Hospitality at 19 per cent each.

Despite this appetite for diversification, geographic expansion beyond Nigeria’s borders remains a point of caution. Fifty-six per cent of CEOs do not plan international investments in the next 12 months. Where expansion is occurring, it is concentrated in the West and East African corridors, specifically Ghana (16 per cent) and Kenya (9 per cent).

Seventy five per cent of CEOs expect to “strengthen enterprise-wide cybersecurity” over the next three years, with survey noting that stakeholders are increasingly demanding transparency and oversight rather than withdrawing investment.

The report also highlighted the impact of Nigeria’s 2025 tax reforms. One in four CEOs (25 per cent) expect to restructure their tax obligations in response to potential geopolitical risk over the next three years.

On the sustainability front, awareness is rising sharply, with climate change cited as a major threat by only 3 per cent of CEOs in 2025, and jumping to 13 per cent in 2026. Social inequality is also surfacing as a business concern, cited by 25 per cent of leaders who fear its impact on demand and workforce stability.

The report concluded with a clear call to action for the nation’s executives. While confidence is high, there is a visible gap in execution. For example, while 47 per cent of CEOs viewed innovation as critical, only 25 per cent actually “test new ideas rapidly with customers.”

Furthermore, 44 per cent of CEOs still identified “long-term viability” as a key concern, highlighting constraints in translating strategy into outcomes.

“Nearly half of Nigerian CEOs (44 per cent) cite their company’s long-term viability as a key concern. This highlights the need to move beyond short-term recovery and prepare for sustained performance in an environment shaped by macroeconomic uncertainty and geopolitical disruption.

“The next move is to embed scenario planning into core strategic decision-making. CEOs should stress-test business plans against a range of macroeconomic and geopolitical outcomes, reassess risk exposures, and preserve financial flexibility through disciplined cash and margin management.

“Prioritising capabilities such as cybersecurity, talent stability, ESG integration, and supply chain flexibility will strengthen organisational resilience and protect performance as external conditions evolve,” it added.