Facebook Twitter LinkedIn RSS
    Trending
    • Seven key benefits propelling MSP growth with Sophos Elevate Program
    • Q1 2025 .ng Domain Name Statistics Reflect Nigeria’s Advancing Digital Landscape
    • TD Africa reigns supreme at Huawei Day Nigeria 2025, clinching top honours
    • The Growing Influence of Artificial Intelligence, By Louis Napoletani 
    • Nigeria sees significant drop in data breaches in Q1 2025
    • NITDA, Academia unite to fuel national growth through research
    • Prof. G.A. Aderounmu: The Visionary Leader CPN Needs Now
    • From Coal to Code: Leo Stan Ekeh Rallies Young Innovators at Enugu Tech Festival
    Facebook Twitter LinkedIn
    ITPulse.com.ngITPulse.com.ng
    • News
    • Interviews
    • Blogs
    • Analysis
    • Opinion
    • Videos
    • Press Releases
    • Pictures
    • Advertise
    ITPulse.com.ngITPulse.com.ng
    Home»News»KPMG identifies COVID-19 as Nigeria’s biggest risk factor for 2020/2021
    News 3 Mins Read

    KPMG identifies COVID-19 as Nigeria’s biggest risk factor for 2020/2021

    mmBy ITPulseApril 6, 2020
    Facebook Twitter WhatsApp Pinterest LinkedIn Reddit Tumblr Email
    kpmg, busines risks in Nigeria
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Professional Services Firms, KPMG has identified the twin evil of Covid-19 and the ongoing crude oil price war as the biggest risk factors that will threaten businesses in Nigeria for 2020/2021.

    In its biennial Risk Management survey report (‘the report’) titled “Top 10 Business Risks in Nigeria for 2020/202, KPMG also identified regulatory, fiscal & monetary policy and foreign exchange volatility risks as some of the highest concerns for Nigerian Executives across industries.

    “Prior to COVID-19, the highest concerns for Nigerian Executives across industries are the regulatory, fiscal & monetary policy, and foreign exchange volatility risks, which maintain their place at the top 3 from our 2018 ranking. However, one cannot help but acknowledge the COVID-19 and its impact on Nigerian corporates and the global business climate at large,” said Tomi Adepoju, Risk Consulting Partner at KPMG, while analyzing the report.

    According to him, the report, which is based on aggregate perspectives of 108 executives including Managing Directors, Chief Financial Officers, Chief Risk Officers, Chief Audit Executives and Chief Compliance Officers cutting across various sectors of the economy, also noted that the balance of demand and supply conditions, the US presidential elections and BREXIT will also be a risk factor.

    Also taking a look at the report, Olumide Olayinka, Partner and Head, Risk Consulting Services, KPMG Nigeria, explained that since the outlook of the Nigerian economy will rely on possible eventualities surrounding several global issues such as the COVID-19 and the ongoing crude oil price war, businesses should develop and implement a robust enterprise risk management framework that covers business continuity and disaster recovery planning, and businesses that have a framework in place should seek periodic independent assurance on its effectiveness.”

    While, referring all organisations to KPMG’s weekly business impact series on COVID-19 for more information on topical issues arising from the pandemic and suggestions on how to manage them, Olumide disclosed that the report offers a holistic look at key risks that Executives believe will impact organisations in Nigeria, in the coming year and highlights the impact of the Coronavirus pandemic on the country’s macro-economic outlook and risks prioritised by the survey respondents.

    In the report, 31 risks were assessed by C-Suite Officers; 5 of which were rated high, 25 as medium and 1 as low. The risk assessment had an aggregate score of 3.17, which depicts a “Medium Risk” environment for Nigerian Businesses in 2020, based on our rating methodology. This represents an upward shift in the respondents’ aggregate risk score from our 2018/19 report.”

    To view or download the report online, click on https://bit.ly/2JB77fx.

    busines risks in Nigeria KPMG
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    mm
    ITPulse
    • Website
    • Facebook
    • Twitter
    • LinkedIn

    ITPulse is a wholly information technology communication (ICT) news website, with a special focus on the African continent. The website provides up-to-date biz-tech news, analysis and comprehensive and thorough insight into the continent's ICT terrain

    Related Posts

    Seven key benefits propelling MSP growth with Sophos Elevate Program

    May 15, 2025

    Q1 2025 .ng Domain Name Statistics Reflect Nigeria’s Advancing Digital Landscape

    May 14, 2025

    TD Africa reigns supreme at Huawei Day Nigeria 2025, clinching top honours

    May 14, 2025

    Leave A Reply Cancel Reply

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Latest Posts

    Seven key benefits propelling MSP growth with Sophos Elevate Program

    May 15, 2025

    Q1 2025 .ng Domain Name Statistics Reflect Nigeria’s Advancing Digital Landscape

    May 14, 2025

    TD Africa reigns supreme at Huawei Day Nigeria 2025, clinching top honours

    May 14, 2025
    About
    About

    Itpulse.com.ng is a wholly information technology communication (ICT) news website, with special focus on the African continent. The website provides up-to-date biz-tech news, analysis and a comprehensive and thorough insight info the continent's ICT terrain.

    Contact us: editorial@itpulse.com.ng

    Facebook Twitter LinkedIn RSS
    Latest Posts

    Seven key benefits propelling MSP growth with Sophos Elevate Program

    May 15, 2025

    Q1 2025 .ng Domain Name Statistics Reflect Nigeria’s Advancing Digital Landscape

    May 14, 2025

    TD Africa reigns supreme at Huawei Day Nigeria 2025, clinching top honours

    May 14, 2025
    Popular Posts

    Q1 2025 .ng Domain Name Statistics Reflect Nigeria’s Advancing Digital Landscape

    May 14, 2025

    Agabi advocates for cyber sanity and responsible cyberspace in Nigeria

    May 10, 2025

    Seven key benefits propelling MSP growth with Sophos Elevate Program

    May 15, 2025
    © 2017 - 2025 Itpulse. Designed by Max Excellence.
    • Terms & Conditions
    • Privacy Policy
    • Advertise
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.