News & Events


Jul 2014

Experts optimistic about Nigeria’s business growth despite security challenges – KPMG Survey

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Chief Financial Officers, CFOs  in Nigeria have expressed  optimism about the prospects of business growth despite challenges insecurity, infrastructure, and multiple taxations.

This was revealed by a survey conducted by KPMG involving over 40 CFOs drawn from different companies across various sectors, including finance, telecoms, oil and gas, manufacturing, etc.

Addressing news men at the pre-launch press conference for the survey report in Lagos, KPMG’s Partner and Head of Audit Services, Tola Adeyemi said the firm decided to go out and survey Chief Financial Officers, CFOs because of the crucial role they play in the lives of businesses, adding that is important to get their pulse and real thoughts on matters that affect them.

He said the survey focused  three broad areas which are:  perception on economic growth prospect for Nigeria in 2014, the role of internal audit in businesses and how the role of CFOs have evolved in Nigeria, given the way in which the economy and the complexity of business have also evolved.

On the key findings in the survey, Adeyemi said the CFOs were cautiously optimistic in terms of economic outlook, adding that besides insecurity, they expressed concerns with power, taxation, infrastructure and regulation.

Explaining the findings of the survey, he said: “The key message regarding the outlook is that CFOs in Nigeria are cautiously optimistic about the prospects for their businesses in 2014.

There are two elements to that. The first element is the optimism. We asked them the question that says, how do you see the growth in revenues, growth in their gross margins and growth in cash flows evolving for your business in 2014?


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