Amid mounting global uncertainties and economic headwinds, stakeholders at an industry breakfast hosted by the Consumer and Industrial Products and Services (CIPS) group of PwC Nigeria have underscored the need to re-engineer Nigeria’s supply chain architecture as a catalyst for business resilience and economic growth.
The event, themed “Building Supply Chain Resilience in a Dynamic Operating Environment: Building the Future, Rewriting the Future”, convened senior executives, policymakers, and industry experts to deliberate on the pressing supply chain challenges confronting Nigeria’s businesses and explore transformative solutions.
Speaking at the session, Partner and Industry Leader for CIPS at PwC Nigeria, Oladele Oladipo, emphasised that businesses could no longer afford to treat supply chain management as a back-end operation.
“Supply chain is a critical business asset.”
For businesses to thrive, they must ensure their supply chains are efficient, agile, and resilient, built not just for today, but for the future,” he said.
Oladipo highlighted technology adoption, regulatory collaboration and stakeholder alignment as crucial pillars for a robust supply chain system.
“Government’s role isn’t only regulatory; it must facilitate trade and innovation. Once these elements are aligned, the ripple effects on employment, waste reduction, and GDP growth can be exponential,” he noted.
Addressing the broader economic context, Country Senior Partner of PwC Nigeria, Sam Abu, pointed out that geopolitical tensions, inflationary pressures, and technological disruptions were blurring traditional industry boundaries.
Quoting PwC’s latest CEO survey, he revealed that 64 per cent of Nigerian business leaders remained confident about economic growth, yet 42 per cent believe their businesses would not remain viable without significant transformation.
Abu further stressed the need for strategic reinvention, adoption of generative AI, and integration of sustainability into business operations.
“The era of ‘business as usual’ is over. For companies to survive and thrive, they must rethink business models, customer engagement, and supply chain configurations,” he added.
In her remarks, the Director General of the Lagos Chamber of Commerce and Industry (LCCI), Chinyere Almona, echoed similar sentiments, describing the current environment as a “poly-crisis era.”
Citing recent data, she revealed that 73 per cent of firms in Lagos had experienced major supply disruptions, and 91 per cent of business leaders had encountered at least one disruption in the past year.
Also contributing, Senior Manager, Strategy at PwC Nigeria, Akolawole Odunlami, warned that Nigeria’s fiscal situation, with debt levels reaching 50 per cent of GDP, necessitates urgent reforms.
