Navigating Economic Uncertainty: Jobberman and Experts Offer Growth Strategies for Businesses

As businesses brace for the challenges of 2025, industry leaders and economic experts have urged executives to adopt strategic adaptability, high agency, and proactive planning to ensure sustainability. These insights were shared at the Jobberman Business Breakfast for C-Suite Executives, held in Lagos, where speakers provided actionable strategies to navigate economic uncertainties.

The Reality of Economic Turbulence

Addressing business leaders at the event, Ore Boboye, Managing Director of Jobberman Nigeria, acknowledged the difficulties faced by organizations in 2024. He described the year as one of economic turbulence and emphasized the need for stronger policy implementation to support businesses.

“I am aware that the government has a lot of ongoing reforms and policies, and one thing that comes with change is the teething and adjustment period, which is what businesses are facing,” Boboye said. He called for clearer policy frameworks and improved communication between businesses and the government to foster a more stable economic environment.

Workforce Stability as a Key Driver of Growth

For companies looking to sustain long-term profitability, Samantha Ifezulike, Head of People and Culture at Jobberman Nigeria, stressed the importance of employee well-being. She noted that retaining top talent is crucial in times of economic instability.

“It is important to provide some level of stability via medical benefits, after-work activities, and external learning to drive the future of the business,” Ifezulike said, highlighting the need for businesses to invest in employee welfare to enhance productivity.

Balancing Economic Growth and Workers’ Welfare

Echoing similar sentiments, Adenike Ajala, Director of Social, Economic, and Labour Affairs at NECA, emphasized the need for a fair balance between economic reforms and workers’ welfare. Representing Adewale Oyerinde, Director-General of the Nigeria Employers’ Consultative Association (NECA), Ajala pointed out that while recent reforms aim to create a structured labor market, their success depends on effective implementation and collaboration among key stakeholders.

“While these reforms aim to create a fairer and more structured labour market, their success will largely depend on effective implementation, enforcement, and collaboration between the government, employers, and labour unions,” she said.

Leveraging Technology for Competitive Advantage

With rapid technological disruptions and evolving consumer behavior shaping markets, Lynda Saint-Nwafor, Chief Enterprise Business Officer at MTN Nigeria, urged businesses to prioritize customer-centricity and digital transformation.

“We are at a time when customer-centricity is no longer an option; it is everything,” she noted. Saint-Nwafor encouraged organizations to adopt emerging technologies and form strategic partnerships to strengthen market positioning and enhance competitiveness.

Preparing for Inflation and Currency Devaluation

As economic uncertainty continues, Oluyemi Oloyede, Managing Director of UAC Foods, advised businesses to anticipate inflation and currency devaluation when designing their models. He underscored that profitability comes from successfully navigating risks and adapting to market conditions.

“The business environment will forever be challenging, and profitability is the reward for the risks and challenges organizations take,” Oloyede stated.

Understanding Finance Acts and Policy Changes

Funke Oladoke, Tax Partner at Deloitte Nigeria, highlighted the importance of businesses staying informed about tax reforms and Finance Acts. She advised organizations to engage in scenario planning to mitigate financial risks.

Meanwhile, Adedapo Adelegan, Group Managing Director of Celtron Group, encouraged businesses to create vertical or horizontal business curves to prepare for policy changes and potential disruptions. He also advocated for a stronger “Buy Nigeria” initiative to drive local economic growth and reduce reliance on foreign markets.

Strategic Innovation for a Resilient Future

The event concluded with a consensus that businesses must embrace data-driven decision-making, continuous innovation, and high agency to remain resilient in 2025. Experts reiterated that while economic uncertainty presents challenges, businesses that proactively adapt will emerge stronger.

With shifting economic conditions, the insights from industry leaders serve as a blueprint for companies seeking sustainable growth and long-term success in an unpredictable business landscape.