A survey by Multinational audit firm, KPMG has shown that Nigeria’s economy faces low economic growth prospect, a survey by
According to the report, a group of Chief Financial Officers were interviewed in a survey by the consulting firm.
The CFOs are concerned about business risks, as well as the economic slowdown and the falling oil price.
Its Partner and Head, Audit Services, Tola Adeyemi, said the CFOs were the least optimistic about growth. The other concerns are uniting leaders, increasing taxation and regularities complexities. And the continued slowdown in the economy, according to them has heightened fears that a key engine of growth is stalling. There are also worries about the impact of falling oil revenues on the overall economy.
He noted that the CFO observed that the threats they face are becoming more complex with exchange rate instability and the state of infrastructure.
One issue also identified is lack of balance in the economy. As a result, the rewards of a growing economy are not shared equally, leaving some sectors feeling markedly stronger than the others.
The business suggested growth levels across most sectors slowed considerably.