Nigerian business leaders pivot toward growth, with talent and AI key priorities
Over 7 in 10 Nigerian leaders say the business environment has improved versus last year. Additionally, just over half rank domestic growth and talent among their top strategic priorities.
Improved market sentiment has been a driving force for leaders in Nigeria as they shift their focus to domestic growth and talent. Meanwhile executive capability remains a critical bottleneck, with 35% pointing to leadership and talent gaps as a main internal constraint. This is according to report from Boston Consulting Group (BCG) Lagos Business School, and Chartered Institute of Directors Nigeria.
The survey polled 100 Nigerian C-suite executives and board members in a wide range of industries, including financial services, oil & gas, power & utilities, and the public sector, among others.
Priorities vary as execution gap emerges
A solid majority (65%) of the respondents to the survey said their top priority is domestic growth. When it comes to talent retention and development, 22% indicated it as their top priority and 39% said it was their second priority.
Leaders cite three main barriers to delivering on strategy: Gaps in program management, digital fluency, and leadership alignment. While the vision for growth is clear, the internal systems required to achieve it often lag behind, making it difficult for organizations to manage complex transitions effectively.
The survey found the most cited capability that Nigerian business leaders believe is underdeveloped is execution and program management, pointing to this as an area with a significant execution gap. In addition to that, 39% said they believe digital and AI fluency is the top underdeveloped capability and 37% pointed to leadership agility and alignment.
Tech and AI
Technological integration is another key component of future plans. Ambition for generative AI is high, with 83% of Nigerian leaders expecting to integrate tools within 12 to 24 months. The survey shows better productivity is the main ambition: 26% hope to leverage AI to boost everyday productivity.
Although the desire to adopt these tools is strong, most organizations are still in the early stages of exploration. Moving from the initial testing phase to full implementation will require a concerted effort to improve digital skills across all levels of the workforce to ensure the technology delivers real value.
In a business environment defined by volatility, the most successful companies will be the ones that manage to strategize effectively to maintain a competitive advantage. The report highlights the importance of foresight, strategic investment, and building resilience with flexibility.
“Africa’s growth story will be written by those who can convert optimism into disciplined execution. In an environment defined by volatility, the winners will build what we call an ‘Uncertainty Advantage’ combining resilience, decisive moves, and strong market signals,” said Lisa Ivers, senior partner and head of Boston Consulting Group in Africa.
