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By Ngozi Nwoke
The Pricewaterhouse Coopers (PwC) Nigeria, in partnership with Business Day Group, recently hosted an executive roundtable to discuss Nigeria’s 2025 budget and economic outlook.
The event, which was held in Lagos, brought together key stakeholders, including CEOs and government officials, to share insights and perspectives on the country’s economic trajectory.
According to Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, the new FX code introduced by the Central Bank of Nigeria (CBN) “is expected to enhance transparency and reduce pressures on the naira.”
Oyedele also noted that “the proposed tax reforms, if implemented this year, will give the exchange rate a soft landing and enhance fiscal sustainability.”
The roundtable also highlighted the importance of climate-friendly investments, with CEOs sharing their experiences and strategies for reducing carbon emissions and promoting sustainability.
Sam Abu, Regional & Country Senior Partner, PwC noted that “the new FX code is a step in the right direction, but its success depends on effective implementation and stakeholder buy-in.”
“We are very positive about the economy and believe the situation will get better if businesses implement a number of strategies in 2025 by reinventing their business model.
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“The world is changing rapidly and dynamically. Businesses need to reconsider their operations as models that worked five years ago may not work this year.
He added that businesses must prioritise sustainability and adapt to the changing economic landscape. This includes investing in climate-friendly technologies and practices.
“The adaptability of technology for business operation is essential. It is needed for growth and development. Businesses must begin in the area of digitalisation.”
Segun Alebiosu, Chief Executive Officer and Managing Director of First Bank, also expressed optimism about Nigeria’s economic outlook, stating that the government’s reforms are stabilising the economy.
The event emphasised the need for businesses to prioritise sustainability and adapt to the changing economic landscape.
Other key takeaways from the roundtable include the need for increased transparency and collaboration between government and private sector stakeholders, as well as the importance of investing in emerging technologies like generative AI.
Overall, the PwC roundtable provided a platform for stakeholders to engage in meaningful discussions and share insights on Nigeria’s economic outlook.
As the country navigates its economic challenges, events like this roundtable will play a crucial role in shaping the national conversation and promoting sustainable growth.
