By Elizabeth Godwin
Nigerian business leaders are increasingly embracing Artificial Intelligence (AI) not as a threat to jobs but as a strategic tool to boost productivity, drive innovation, and reshape the workforce. This is according to the 28th Annual Global CEO Survey (Nigerian Perspective) released by PwC, which reveals that 72 percent of Nigerian CEOs expect AI to transform their workforce and skills strategies—surpassing both global (68%) and regional (60%) averages.
The report highlights a significant shift in how corporate Nigeria views AI, with 61 percent of CEOs saying the technology will become central to their overall business strategy. Additionally, 67 percent believe AI will play a key role in developing new products and services, signaling a broader transformation of traditional business models.
“CEOs are confident in AI’s transformative potential,” said Olufemi Osinubi, West Market Area Consulting and Risk Services Leader at PwC Nigeria. “The challenge now is moving from ambition to execution—investing in the right technology, data systems, and talent.”
Since the emergence of generative AI tools like ChatGPT in late 2022, adoption has accelerated, impacting how businesses operate and how people work. Far from replacing workers, AI is increasingly seen as a tool for enhancing human performance. From automating routine tasks like proofreading and scheduling to supporting decision-making through advanced data analytics, AI is enabling Nigerian companies to streamline operations and unlock new efficiencies.
According to the survey, 81 percent of Nigerian CEOs expect AI to be embedded in daily business processes and workflows in the near future, slightly below the regional average (83%) but ahead of the global average (76%).
Ola Williams, Country Manager for Microsoft Nigeria, echoed this sentiment. “AI is influencing everything. It’s become an important part of how we work and interact,” she said.
The impact of AI is expected to be felt across sectors, from finance and healthcare to agriculture and manufacturing. A United Nations Conference on Trade and Development (UNCTAD) report notes that AI could affect up to 40 percent of global employment, with the potential to increase worker incomes in some areas while displacing jobs in others.
“AI can bring productivity gains, but it will also reshape workplace dynamics,” the UN agency said. It emphasized the importance of viewing AI as a complement to human labor, especially in enhancing soft skills like communication and problem-solving.
Tech giants are optimistic about AI’s economic impact. Google estimates that AI could contribute as much as $15 billion to Nigeria’s economy, as more businesses adopt AI tools to boost output.
Despite the promise, experts warn that challenges remain. Bernice Adeoti, a human resources consultant, called for clear ethical boundaries in AI deployment. “There needs to be a line in terms of what AI can be used for and not,” she said.
Concerns around cybersecurity and data privacy are also growing. Marco Iansiti, a professor at Harvard Business School, cautioned that as AI becomes more entrenched in digital infrastructure, it increases vulnerability to cyberattacks and data breaches. “The risk is not just what companies do with data—but what hackers might do if they gain access,” he said.
Infrastructure limitations are another barrier. While 83 percent of Nigerian CEOs say AI will become part of their technological backbone, gaps in digital access, power supply, and internet connectivity may slow deployment in many parts of the country.
Nevertheless, AI’s potential to redefine the future of work and business in Nigeria is undeniable. According to PwC, forward-looking organizations are already positioning themselves for long-term growth by investing in talent development, modern tech infrastructure, and responsible AI policies.
“As AI becomes a core driver of business transformation,” said Osinubi, “leaders must ensure that ambition is matched by action.”
