By MICHAEL EBOH
Chief Executive Officers, CEOs,of Nigerian businesses have identified exchange rate volatility, increasing tax burden, uncertain or volatile economic growth, energy costs and bribery and corruption as the major concerns of business in the country.

The CEOs, in a survey by PricewaterhouseCoopers International Limited, are however, optimistic of their companies’ future, despite the crisis in the global financial landscape and uncertainty pervading the African economy.

The CEOs in PricewaterhouseCoopers’ 15th Annual Global CEO Survey, with the theme: ‘Delivering results: Growth and value in a volatile world,’ expressed confidence about their companies’ growth over the next 12 months as well as in three years’ time.

In the survey, 201 CEOs were interviewed in subSaharan Africa, including 30 CEOs from Nigeria in late 2011.

According to the report, among the major sources of concern, the study reveals that 96 per cent of Nigerian CEOs are very much concerned about exchange rate volatility, 96 per cent are also concerned about increasing tax burden, 94 per cent are bothered about the uncertain or volatile economic growth, while 93 per cent are concerned about energy costs and bribery and corruption.

The report further stated that 90 per cent of Nigerian CEOs are very confident about their companies’ prospects for revenue growth over the next 12 months unlike their counterparts in other African countries where only 64 per cent look forward to their companies’ revenue growth over the next twelve months and 65 per cent over the next three years.

The report disclosed that 94 per cent of the CEOs identify risk as a major issue in their agenda; 93 per cent identified capital investment as a major issue topping their agenda; innovation – 87 per cent and talent – 86 per cent.

According to the report, the survey shows that these CEOs are clearly focused on approaches to managing risk and making capital investments, a disposition that makes them and their companies highly competitive.

“On change and innovation, 80 per cent of the Nigerian respondents anticipate changes, driven by competitive threats, economic growth forecasts or uncertainties, risk tolerance as well as customer demands, in the next year.

“Eighty-seven per cent of Nigerian CEOs plan to spend more time meeting with customers,  83 per cent plan to focus on setting strategy and managing risks, 83 per cent intend concentrating on developing leadership and talent pipeline, while 83 per cent also plan to focus more on improving organizational efficiency,” the report shows.

The report further stated that the optimism of Nigerian CEO’s on the growth prospect of their companies is linked to their strategic focus on increasing their share in existing markets, offering new products and services within existing business models and making changes to existing products and services while making less incursions on new geographic markets.