More than half of Nigerian CEOs bet on revenue surge in 2026

…CEOs bet big on AI to drive growth

More than half of Nigeria’s top chief executives are confident that their revenues will grow this year on the back of a stable economy that has boosted general business optimism.

“Nigeria is leading the pack in terms of CEO confidence. Fifty-six percent are very confident about revenue growth over the next 12 months, compared to just 30 percent of CEOs across the world,” said Sam Abu, regional senior partner for PwC West Market Area, at PwC and BusinessDay’s economic outlook roundtable held in Lagos on Thursday.

Abu stated that findings from PwC’s 29th global CEO survey revealed that for the first time in years, optimism is surging, with 90 percent of CEOs expecting the Nigerian economy to improve over the next 12 months, from 64 percent last year.

That confidence is buoyed by the stabilising macroeconomic conditions, including easing inflation that slowed to 15.15 percent after a revised methodology. The naira also strengthened last year, recording more than seven percent gain, reversing over 40 percent loss seen in the previous year.

Read also: PwC, BusinessDay to host CEO roundtable on Nigeria’s 2026 budget, outlook

Nigerian listed companies are already releasing their 2025 full-year earnings, and net incomes are turning positive after recording FX-related losses.

The improved sentiment comes after Nigeria implemented a series of monetary, foreign-exchange (FX) and fiscal reforms nearly three years ago that policymakers say have helped restore a measure of stability to an economy once riddled with volatility.

“Nigeria seems to be standing on solid ground, even against the backdrop of surging uncertainty at home and globally,” Abu said.

CEOs bet big on AI to drive business growth

Similarly, top CEOs are pulling their weight behind artificial intelligence (AI) in 2026, with strong hopes that it has potential to boost business growth and improve investor confidence.

Femi Osinubi, consulting and risk services leader at PwC, said that only 30 percent of CEOs have seen revenue gains from adopting AI, indicating a need for a shift in focus.

As questions arise about security in AI adoption, Osinubi said trust is the currency for companies willing to pivot into technology.

“Companies with the fewest trust concerns will deliver total shareholder returns, and last year, there were about nine percent shareholder returns, higher than those with five percent concerns,” he said.

Osinubi called for a reinvention in companies’ leadership, from engineering departments down to the board rooms, noting that, “if you (companies) reinvent yourself, refresh your organisation technology, then we will see the share returns continue to grow.”

According to the technology leader at the audit firm, this growth for companies, which will pivot to AI in 2026, would cut across Nigeria to the rest of West Africa.

Adding to the conversation on AI, Wole Abu, managing director of Equinix, said his company uses AI tools to automate a lot of activities, noting that it saves time and gets the job done.

He urged CEOs to “keep building solid technology that supports enterprises who are interested.”

Abu noted emphatically that AI is not just a technology but a digital transformation.

Read also: CBN sees FX reserves rising to $51bn in 2026 on market reforms

Sharing how the consumer goods firm, Cadbury, plans to drive growth this year, Folake Ogundipe, acting managing director, noted that the firm plans on leveraging digital tools to ensure that customer needs are met.

For her, distribution expansion takes front row of Cadbury’s 2026 outlook, ensuring that different products of the brand reach consumers even in rural markets.

However, Ogundipe urged for better energy efficiency, stressing that, “for the real sector to be productive, access to affordable energy must be provided.”

The CEOs all echoed similar concerns, AI adoption needs to be supported by strong governance, cybersecurity, and accountability to protect data integrity and enable responsible deployments.

“CEOs have to invest time and resources in developing AI adoption,” said Abu, earlier quoted.