As businesses struggle to survive amid growing uncertainties in the economy, business leaders and managers have been urged to rethink their value propositions and adapt to the changing expectations of consumers.

Chief Executive Officer, Pierrine Consulting, Oluseyi Adeoye, advised an Executive Business Roundtable for business leaders organised by his firm in Lagos.

The exclusive session brought together top business leaders from across various industries to engage in high-level discussions on the evolving state of the Nigerian economy and consumer behaviour, to set the strategic context for 2025.
Adeoye, while analysing a key finding from the Consumer Sentiments Report presented during the roundtable, said the study indicated that while consumer incomes were on the rise, there was a palpable shift towards quality and value in spending.
He stressed that it had therefore become imperative for businesses to stay ahead in terms of strategies if they were to sustain patronage and business growth.

Adeoye said his firm brought together a select group of top business leaders to analyse recent insights and the business outlook for 2025.

He said the essence was to foster a collaborative environment where industry peers could build context and share strategies that would drive sustainable growth.

“This event reinforces our commitment to thought leadership and positions us as a trusted strategic partner in today’s dynamic market,” Adeoye added.

In his keynote address, renowned economist, Prof. Doyin Salami, also emphasised the need for businesses to recalibrate their strategies to continue to grow incomes in Nigeria’s tightening and rapidly changing economic landscape.

Giving incisive observations on the economy and providing attendees with actionable insights, Salami noted that while income was growing across the board, growth was concentrated at the top.

He said it was critical that businesses continuously retune their methods for sustainable income growth in the light of shifting income distributions.

“Every business must not only understand where they make their incomes from; they must also understand where their consumers get their incomes from, to grasp the industries that will impact their consumers’ spending power,” he stressed.