Nigeria markets are witnessing a consulting boom that masks deeper structural problems. The USD 1.65 billion management consulting market projected for 2026 tells a story of growth built on crisis management rather than genuine transformation.

Revenue Concentration Reveals Systemic Weakness

Lagos, Abuja, and Port Harcourt control over half of Nigeria's consulting revenue, exposing dangerous geographic concentration. Large enterprises dominate with 72.98% market share, while financial services alone command 26.47% of revenue. This suggests the consulting surge stems from regulatory fire-fighting rather than strategic planning. Operations consulting holds 33.18% share precisely because clients prioritize cost control amid currency devaluation and macro volatility. The risk is clear: when your biggest growth driver is helping companies survive economic chaos, you're not building sustainable revenue streams. Government diversification reforms and FDI surge sound positive, but they're generating consulting demand because existing systems can't handle change without expensive external help.

Digital Transformation Exposes Infrastructure Gaps

technology consulting grows at 6.15% CAGR through 2031, but on-site engagements still dominate at 64.58% in 2025. Remote models grow at 7.12% CAGR only as broadband improves - a telling admission about current infrastructure quality. AfCFTA-driven regional expansion and ESG compliance advisory boost demand, yet this reveals how unprepared Nigerian enterprises were for continental integration and environmental standards. Currency devaluation raises travel costs, forcing consulting firms to price in forex risk. This suggests profit margins face sustained pressure despite topline growth. The consulting boom reflects institutional weakness, not strength.

Expect consulting revenue to plateau once enterprises exhaust crisis budgets. Nigeria's 30.70% share of Africa's management consulting market looks impressive until you realize it's built on fixing broken systems.