A new survey of top business executives has revealed growing optimism about Nigeria’s economic outlook, though many remain cautious about key challenges that could hamper progress.
The survey, which gauged the sentiments of Chief Executive Officers (CEOs) across diverse sectors, indicated a general belief in the country’s economic potential, citing recent policy reforms, improved infrastructure investment, and renewed investor interest as positive indicators.
According to the report, several CEOs highlighted Nigeria’s youthful population, expanding digital economy, and ongoing regulatory adjustments as signs of a potential turnaround. Many also praised the Central Bank’s focus on exchange rate unification and fiscal discipline, saying such measures could enhance economic stability and improve the ease of doing business.
However, the executives also voiced serious concerns about persistent issues that could undermine growth. Top among these were insecurity, high inflation, policy inconsistency, and infrastructural deficits. The survey also found that concerns over electricity supply, port inefficiencies, and bureaucratic delays continue to be major deterrents to large-scale investment.
While most CEOs said they plan to expand their operations or increase capital expenditure in Nigeria over the next 12 to 24 months, they cautioned that without sustained policy implementation and improved governance, investor confidence may be short-lived.
The report concluded that while optimism is on the rise, tangible actions on security, infrastructure, and regulatory clarity will be crucial in converting this bullish sentiment into long-term economic gains.