The United States carried out its first deadly strike against an ISIS stronghold in Northern Nigeria on the eve of Christmas. The strike signals a deepening response to insecurity, one of the big scourges that scares investors and disincentivize market. Big applause to the nation’s security agencies for coordinating well with their US counterparts.
If you operate a business in Lagos, you may have very few concerns about insecurity. But the designation of the country as a place of particular concern does have implications. Potentially, it can snowball into sanctions, trade disruptions, and reduced aid. Moreover, the reputational damage it brings can be damning – impacting the country’s standing as one of Africa’s largest economies and relations with the US. We are hoping this potential impact can be waived by a smart top-level exchange between the Government and Donald Trump. It should play the trick.
Next is a new tax law that is proposed for full rollout in January. SMEs are not spared. Everyone seems to be interested in how the new tax rollout will affect their business. From the woman selling tomatoes to the big men you only meet in first class sections while flying, everyone is talking about how the policy will affect them. Labour is threatening a strike over the rollout.
Has labour ever succeeded in influencing policies? That is a subject we shouldn’t dabble in now.
Having shared that background, it is time to prepare for 2026. If you are a business CEO, it is assumed that you are not 100% on holiday. Like a system placed in sleep mode, certainly, you are staying quietly conscious of market moves, clients’ activities, as you sip your cappuccino or premium wine on a distant island, cooling off with family – All of that, especially, in a bid to prepare to stay current, on guard to welcome the new year in a few days from now.
Let’s not bore you any further. Here are a few steps to take to prepare for a sound 2026 business year:
- Review & Analyse – The year has been loaded with events. You responded to the best way you could. Now evaluate what worked and what didn’t work to find opportunities and drop areas of inefficiency as you proceed into the new year.
- Observe Market Trends – Trends are already emerging. Your industries have their trends. But on a general level, we see a concerted effort to tackle insecurity, government tightening fiscal planning and loose tax regimes. The consumers are also getting smarter; they seek value these days. Check the trend and prepare for what unfolds in months from now.
- Build Resilience – Create detailed 12-month forecasts, taking into consideration the trends. Calculate risks, prepare safety nets. Above all, incorporate tech like AI into operations to streamline activities for efficiency.
In conclusion, more of what is happening locally. The government continues to strive to help businesses find that magic moment again. The CBN is active. Always active as usual, tweaking strategies to find out what works.
The ministries of finance, aviation, agriculture and food security, amongst others, are active too. All portfolio holders now understand that this government means business. It is hoped that the economy will finally shape up with that awakening, even as loud politicking is expected to take centre stage ahead of the next generation election. Let’s expect a year of goodness. Stay prepared.
