Last week, I had the privilege of joining industry leaders at The Piggyvest Finance Roundtable 2025 as a panelist for the session titled “Creating Financial Products in an Inflationary Economy.” Moderated by Daniel Adeyemi (Managing Editor, Condia), the discussion featured Somtochukwu Ifezue (CEO, Piggyvest), Ibikunle Oriola (DMD, FoodConcepts), Samson Esemuede, CFA (MD, Zrosk Investment Management), and myself, Nneka Agbata (Founder & CEO, The CleanLab Co.).
The dialogue was a masterclass in navigating today’s economic realities—where inflation reshapes consumer behavior and demands business ingenuity.
The panel anchored its insights on striking statistics extracted from The Piggyvest Savings Report 2024:
– Food & Groceries remain the expense category most crippled by inflation.
– 65% of Nigerians with income pay black tax monthly, straining disposable income.
– Only 47% save money monthly, underscoring liquidity challenges.
– 51% prioritize financial freedom as their primary goal.
These numbers paint a clear picture: businesses must innovate to survive, but innovation must align with necessity, accessibility, and repeat value.
My Key Takeaway
The reaffirmation that inflationary economies reward businesses that solve immediate repeated needs with empathy and efficiency. Crisis creates opportunities, but it also creates panic—The key is to build products that thrive because they’re essential, not optional.
I will continue standing strong and ‘gung ho’ about the importance of intentional product development! Ensuring your product or service stays relevant, no matter the economic climate, is crucial. Being proactive and adaptable in your approach will help you navigate any challenges that come your way.
In conclusion, the Piggyvest Finance Roundtable 2025 was a valuable discussion that highlighted the importance of innovation, customer-centricity, and intentional product development in navigating inflationary economies. By aligning with customer needs and staying adaptable, businesses can thrive despite economic challenges.
