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Tag: KPMG

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Nigeria’s fiscal framework not appealling for mining investment – KPMG

KMPG, an international auditing and consulting firm has stated in a report that the current fiscal frameworks, which include tax policies in Nigeria’s mining sector, are not appealing enough to encourage necessary investments and do not take the sector’s unique characteristics into account. According to the report, despite several federal governments’ attempts to revitalize the […]

Business

Nigeria needs to balance foreign investment with local growth – KPMG

A professional services firm, KPMG, has stated that Nigeria must strike a balance between attracting foreign capital and supporting domestic growth through policies that favour foreign investment while also building a conducive climate for indigenous enterprises to prosper. According to the firm’s flashnotes published on January 4, 2024, capital importation numbers show a consistent quarterly fall, indicating continued issues […]

Farmers, locals will benefit from Bayelsa-Rivers link road - NDDC
Business

NDDC, KPMG partner on business operations

The Niger Delta Development Commission and KPMG, a major worldwide business management consulting firm, have a contract in place for KPMG to advise the commission on international best practices in internal procedures and corporate governance culture. Speaking at the signing ceremony on Wednesday at the NDDC headquarters in Port Harcourt, the Managing Director, Dr. Samuel […]

Opinion

How to cushion effect of subsidy removal — KPMG

A global audit, tax and advisory services firm, KPMG, has called for the deployment of alternatives to money in cushioning the severe impact of the recent petrol subsidy removal.   This Day reported that in a report it titled: “ Removing Nigeria’s PMS Fuel Subsidy: We Can’t Have Our Cake & Still Eat it”, the […]

News

KPMG to cut 5% of its US staff

In response to “economic headwinds, coupled with historically low attrition,” a KPMG representative announced on Monday that the Big Four accounting giant is firing 5% of its U.S. workforce. According to Reuters, at the end of its most recent fiscal year, which ended on September 30, the company had nearly 39,000 employees working there. The first […]

Increase in taxes raises household spending, says former NBS DG
News

Increase in taxes raises household spending, says former NBS DG

Chief Economist at KPMG Nigeria and former Director-General of the National Bureau of Statistics, Dr. Yemi Kale,  has expressed worries about the possible detrimental effects of increased taxation on household expenditure and the growth of private businesses. According to Nairametrics, speaking on June 3 at the Nairametrics Q2 2023 Economic Outlook Webinar, Dr. Kale emphasized the […]

News

Why boards of Nigerian companies should participate in ESG – KPMG

KPMG Nigeria urged corporate boards to become active in Environmental, Social, and Governance issues. Nairametrics reported that this was said by the corporation in its May 2023 ESG Oversight report. KPMG asserts that it’s critical for businesses to take a stand on problems like climate change, diversity, equality, and inclusion, as well as other environmental, […]

Business

KPMG faults FG’s tax rate increase

The financial advisory giant, KPMG has faulted the Federal government’s increase in excise duty, stating “Tax increases are better introduced at a time of economic boom”. KPMG however shared different ways the government can generate revenue to bridge the widening gap in its financing deficit rather than the tax raise. It made this clear in […]

Economy

Why Nigeria’s economic development will drop in 2023 – KPMG

From the KPMG Nigeria 2023 Annual CFO Outlook Survey, 41% of CFOs think there won’t be any discernible growth at all. The delayed withdrawal of fuel subsidies, an unstable foreign currency environment, a high rate of inflation, insecurity, and the tax and regulatory environment are some of the reasons the CFOs provided for the lackluster […]

A photo of President Buhari and the redesigned note
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Nigeria’s GDP to grow by slow rate of 3% – KPMG

KPMG has estimated that Nigeria’s Gross Domestic Product will have a slow growth rate of 3% in 2023 due to challenges related to the redesign of the naira and the ongoing political transition. This was in its report titled, ‘2023 Global Economic Outlook H1″ accessed by AMBusiness. According to the report the global economic slowdown […]