Geopolitical risk reshapes boardroom agenda — EY report

Nigeria's corporate leadership is recalibrating risk management strategies as geopolitical instability emerges as the dominant concern shaping boardroom decisions throughout 2026. According to the latest EY-Parthenon CEO Outlook Survey covering 1,200 executives across 21 countries, 56% of CEOs globally—with Nigeria representing a significant portion—have elevated geopolitical risk to their highest priority, surpassing traditional concerns like currency volatility and market competition.

The timing is critical for Africa's largest economy. While chief executives acknowledge growth opportunities in artificial intelligence and digital transformation, they remain acutely aware that regional tensions, supply chain disruptions, and policy uncertainty create an unpredictable operating environment. This mental shift reflects the reality facing Nigeria's manufacturing, financial services, and energy sectors: expansion plans must now account for heightened political and security variables previously treated as secondary concerns.

## How Are Nigerian CEOs Balancing Growth with Geopolitical Risk?

The paradox facing Nigeria's business elite is stark. Despite ranking geopolitical threat as paramount, 67% of surveyed CEOs still plan to accelerate AI investments and pursue expansion deals. This reflects a calculated bet that growth in high-potential sectors—fintech, renewable energy, and digital commerce—can outpace macroeconomic headwinds. The strategy hinges on sector selection: technology and consumer goods firms see Nigeria's 220-million-person market as worth the volatility, while capital-intensive industries are adopting a wait-and-see posture.

Lagos State Government's announcement of "Invest in Lagos 3.0" scheduled for June 8–9, 2026, signals a direct response to this executive anxiety. By hosting the summit and targeting ₦4 trillion in fresh investment inflows, the state aims to demonstrate stability and investment readiness. The summit will convene domestic and foreign capital seekers, positioning Lagos as a resilient hub despite national headwinds. This messaging is strategic: investors are more likely to commit capital to subnational ecosystems perceived as administratively sound and growth-oriented.

## What Sectors Are Attracting Investment Despite Uncertainty?

Data from recent institutional investor surveys suggests financial technology, renewable energy, and real estate remain the three primary targets. Fintech firms are raising capital at valuations near 2021 peaks because digital financial inclusion transcends geopolitical cycles. Renewable energy appeals to both ESG-focused global funds and domestic conglomerates seeking cost-reduction alternatives to diesel generation. Real estate, particularly premium residential and logistics hubs in Lagos, Lagos, and Abuja, continues to attract family offices and pension funds viewing property as a geopolitical hedge.

## Why Is Boardroom Sentiment Shifting Now?

The EY data reflects three converging pressures: regional conflicts affecting supply routes, domestic policy unpredictability around energy subsidies and currency management, and global capital flight from emerging markets. Nigerian CEOs are no longer passive observers of macro conditions—they are actively restructuring operations, diversifying revenue streams geographically, and building scenario-planning capabilities into strategic planning.

The convergence of EY's risk findings and Lagos's investment forum illustrates Nigeria's paradox: executives perceive existential risk yet continue allocating capital for growth. Success depends on separating sectoral opportunity from systemic risk—a discipline the June summit aims to foster.