A recent CEO survey by Africa Practice has revealed that 46% of African businesses are grappling with revenue declines due to inflation and macroeconomic pressures. Despite these challenges, 70% of business leaders are adopting digital solutions to drive innovation, adapt to the economic environment, and fuel future growth.
These findings were discussed at the 30th Nigerian Economic Summit (NES30), where Google brought together top CEOs, government officials, and industry leaders to explore strategies for advancing Nigeria’s digital economy in light of these economic challenges. The event, themed “Leveraging Digital Solutions to Navigate Economic Volatility,” underscored the importance of cross-sector collaboration to address economic issues effectively.
Key speakers at the event, including Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, and Laoye Jaiyeola, former CEO of the Nigerian Economic Summit Group, stressed the need for cooperation between the public and private sectors to boost Nigeria’s digital economy.
Oyedele highlighted the role of collaboration, stating:
“Forums like this provide an opportunity for both sectors to engage, ideate, and work together. I believe in the power of collaboration, and by fostering a digital-first mindset, we can bring about real change in how Nigeria operates.”
Jaiyeola emphasized the role of consistent policy engagement, adding:
“Policies are only as impactful as the commitment behind them. Through the NESG’s Digital Economy Policy Commission, we offer a platform for the private sector to contribute significantly to advancing digital solutions.”
The discussions reflect a shared commitment to embracing digital transformation as a means to ensure resilience and long-term growth for African businesses amidst economic challenges