Spacefinish and Campus HQ host Business leaders at Flutterwave HQ to share survival playbooks amid Nigeria’s economic volatility
- Stephen Ogundele
- May 26
- 3 min read
At a time when businesses across sectors are navigating inflation, currency fluctuations, and shifting regulations, leading executives and policy experts gathered at the Executive Mixer to share playbooks for survival and growth in emerging markets.
The event, co-hosted by Spacefinish and Campus HQ, and powered by Flutterwave, brought together panellists from key sectors to exchange strategies for operating in Nigeria’s volatile environment.
Austin Okpagu, Country Director, VertoFX, during the first panel titled: Emerging market playbooks - Navigating growth in challenging climates, spoke candidly about the impact of market volatility. “Even traditional or tech-driven ways of managing foreign exchange risk are not fully reliable right now,” he said. He recounted the experience of a treasurer at a multinational firm who lost 40% of procurement funds due to rapid naira depreciation.
To reduce risk, Okpagu recommended that businesses adopt multi-currency strategies. “It’s no longer safe to keep everything in naira or even in dollars. With technology, businesses can hold funds in different currencies on a single platform and pay suppliers directly in local currencies without converting to USD,” he explained.
Olufunmilayo Olaniyi, SVP, Business Development, Flutterwave, added insights on building value through partnerships. “We’ve not always had it figured out,” she said. “Some products didn’t scale, and we had to go back to the drawing board. What’s helped is staying close to our partners—especially in government—and aligning with their needs.”
She highlighted that being aligned with stakeholders has been essential to product development for both the public and private sectors. “It’s not just about having the right product; it’s also about knowing what policies may shift and how those changes can affect you overnight.”
The second panel on: Building capabilities for capital investment and operational agility featured Jude Chiemeka, CEO, Nigerian Exchange Group reflected on the pace of economic reform: “Most businesses went through a tsunami due to policy devaluations and inflation. Yet, these reforms have made Nigeria more attractive to international investors. Foreign participation in our market moved from 4% before the elections to 50% today.”
He urged business leaders to adopt flexibility. “Do your scenario planning, but also prepare to adapt. The Ukraine and Gaza conflicts still affect our markets. Inflation may be easing, but volatility is not over.”
He advocated for strong governance, encouraging companies to list on the Exchange. “Institutional investors now prioritise companies with solid governance. Being on the premium board gives you more liquidity and access to capital.”
Similarly, Kazeem Oladepo, COO, IHS Towers, said, “Have a team constantly monitoring policies, stakeholder positions, and regulatory trends. When policies change, immediately assess the impact across all markets,”
He added that building internal alignment helps companies respond effectively. “Don't wait until policies are signed into law to react. Simulate impacts early and prepare possible responses. Flexibility must be built into the organisation from top to bottom.”
The event rounded up with a fireside chat on: Turning economic disruption into business opportunity, where Folusho Phillips, founder of Phillips Consulting, spoke on institutional building and the future of Africa’s economic advantage.
Phillips urged businesses to invest in the right people. “Recruit character before talent. You can teach the job. But wrong behaviour can destroy the team,” he said.
He also stressed the need to document systems and procedures. “If your team walked out on Monday, what would remain? Manuals, training, and embedded culture are what make an organisation sustainable.” On where he would place his biggest bet, he pointed to Africa’s human capital. “We have failed to benefit from our people. Health and education are where the next wave of opportunity lies,” he said.
He noted that households are spending more on education and healthcare than ever before. “With the withdrawal of aid, especially in healthcare, Nigeria must now take full ownership. That opens a new frontier for innovation and investment.”
In closing, Remi Dada, Founder/CEO of Spacefinish and Campus HQ, reminded attendees of the purpose behind the event. “We’re not just about office spaces. We want to support how people work and grow,” he said.
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