As Nigeria’s economy continues to grow, businesses face an increasingly competitive landscape and complex financial challenges. In such a scenario, the services of expert financial consultants become indispensable.
Financial consultant firms in Nigeria play a vital role in guiding businesses, optimizing their financial strategies, and ensuring sustainable growth. In this article, Investors King will explore some of the top financial consultant firms in Nigeria, highlighting their services and contributions to the business community.
Alister Greene Limited:
Located in Lagos, Alister Greene Limited is a renowned financial consulting firm offering a wide range of financial services, including financial consultancy. With a team of experienced professionals, they provide personalized financial advice, strategic planning, risk management, and investment advisory services. Their expertise helps businesses in Nigeria make informed decisions, achieve financial stability, and maximize growth opportunities.
Arkounting Professional Services:
Arkounting Professional Services is a well-established financial management company based in Lagos. Their service portfolio includes risk management consulting, internal audit advisory, financial management services, and more. As a trusted partner, Arkounting assists businesses in managing risks effectively and streamlining financial processes for enhanced efficiency and profitability.
Ashford & McGuire Consulting:
Operating from Victoria Island, Lagos, Ashford & McGuire Consulting specializes in financial consultancy services. Their expert team provides valuable insights to businesses seeking financial planning, budgeting, and financial analysis. The firm’s dedication to excellence has earned them a reputation for delivering top-notch financial solutions to clients.
Coinbox Limited, situated in Gbagada Phase 2, Lagos, boasts an extensive client base ranging from individuals to associations and groups. Their comprehensive services include financial consultation, investment advisory, negotiation, and more. Coinbox Limited’s focus on tailor-made financial solutions makes them a preferred choice for businesses seeking personalized financial guidance.
Cypresshill Consulting, located in Ikeja, Lagos, is dedicated to helping businesses grow by offering financial and management consultants. With a focus on professional services, they assist businesses in improving financial operations, optimizing cash flow, and driving overall growth.
D Brown Consulting:
Operating from Victoria Island, Lagos, D Brown Consulting specializes in accountancy, financial analysis, and tax consulting services. With practical expertise in each area, their team of professionals offers valuable advice to clients, ensuring financial stability and regulatory compliance.
Finesse Consults Limited:
Finesse Consults Limited, situated in Lekki, Lagos, is a leading management consulting firm catering to businesses of all sizes. Their expertise spans various industries, making them a sought-after partner for top, middle, and infant businesses and institutions.
Located in Lekki Scheme 1, Lagos, Firmgate & Associates is a Nigerian-based management consulting firm with a team of experts providing professional advice to foster business growth. Their holistic approach to financial consulting aids businesses in achieving sustainable success.
Kapital Care Trust and Securities Limited:
Kapital Care Trust and Securities Limited, situated in Marina, Lagos, specializes in financial advisory services, capital market activities, financial planning, and financial restructuring. Their insights help businesses navigate Nigeria’s complex financial landscape and make informed investment decisions.
M.A. Akinlade & Co:
M.A. Akinlade & Co, based in Garki, Abuja, consists of chartered accountants offering advisory services, auditing, and taxation services. Their comprehensive approach ensures businesses receive holistic financial guidance.
The financial consultant firms listed above play a crucial role in the growth and success of businesses in Nigeria. From strategic financial planning to risk management and investment advisory, these firms offer specialized expertise to address the unique financial challenges of businesses.
By collaborating with reputable financial consultants, businesses can gain a competitive edge, make informed decisions, and achieve sustainable growth in Nigeria’s vibrant and evolving economy.
BUA Cement Takes Bold Step to Reduce Ex-factory Cement Prices to N3,500/bag
BUA Cement Plc has announced a significant reduction in ex-factory cement prices.
Effective October 2, 2023, BUA Cement will sell its cement at a remarkable rate of N3,500 per bag, affirming its commitment to providing affordable building materials to the Nigerian populace, Investors King gathered.
The statement in part; “As per the commitment made to reduce prices and following a periodic review of our operations for efficiency, the management of BUA Cement Plc wishes to announce and inform our esteemed customers, stakeholders, and the public that effective October 2, 2023, we have decided to bring the price reduction forward. As a result, BUA Cement would now be sold at an ex-factory* price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.”
This announcement comes as a surprise to many, as BUA Cement had previously indicated its intent to lower cement prices upon the completion of new production lines by the end of the year. However, the company’s management decided to expedite the price reduction, allowing Nigerians to enjoy the benefits ahead of schedule.
Upon completion of its ongoing plant construction projects, which will increase production volumes to a staggering 17 million metric tonnes per annum, BUA Cement PLC intends to review prices further by the first quarter of 2024. This review aims to ensure that their pricing remains competitive and advantageous to customers.
The company also clarified that all pending and undelivered orders, which had been paid for at the previous prices, would be adjusted downward to the new rate of N3,500 per bag starting October 2, 2023. BUA Cement’s licensed dealers have been urged to ensure that end-users benefit from this reduction in ex-factory prices, and the company has pledged to closely monitor field sales to ensure compliance.
Statement in full: We refer to our previous pronouncements regarding our intent to reduce cement prices upon the completion of our new lines at the end of the year, in order to spur development in the building materials and infrastructure sectors.
As per the commitment made to reduce prices and following a periodic review of our operations for efficiency, the management of BUA Cement Plc wishes to announce and inform our esteemed customers, stakeholders, and the public that effective October 2, 2023, we have decided to bring the price reduction forward. As a result, BUA Cement would now be sold at an ex-factory* price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.
Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17 million metric tonnes per annum, BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.
NOTE: all pending, undelivered orders which had been paid for at the old prices will be reviewed downwards to N3500/bag in line with the new pricing from October 2, 2023. Our licensed dealers are also enjoined to ensure that end-users benefit from this reduction in ex-factory prices as we will monitor field sales to ensure compliance.
01 October, 2023
Manufacturers Cut Spending on Alternative Energy Sources as Electricity Supply Improves
Nigerian manufacturers reduced their spending on alternative energy sources by 21.25% to N60.4 billion in the first half of 2023, according to the Manufacturers Association of Nigeria (MAN).
This decline is attributed to the increased availability of electricity from the national grid, which improved to 11.3 hours per day, up from 10.2 hours in the same period of 2022.
The report also indicated a slight increase in daily power outages to 4.7 times from 4.4 times in H1 2022.
These improvements in grid electricity availability have positively impacted the manufacturing sector’s energy expenditure, leading to a significant drop from N76.7 billion spent in the second half of 2022.
However, the initial high expenditure on alternative energy sources was driven by skyrocketing diesel prices.
The cost of diesel had surged due to foreign exchange challenges and the implementation of a 7.5% Value Added Tax on Automotive Gas Oil (diesel).
Diesel prices in many states had risen to between N900 and N950 per liter, which threatened the production capacity of numerous manufacturing entities.
The Nigerian Textile Manufacturers Association expressed concerns about the potential closure of textile factories and job losses due to rising energy costs. Textile manufacturers, in particular, found it challenging to afford diesel at such prices.
The Chief Executive Officer of Coleman Technical Industries Limited also highlighted the increased production costs associated with higher diesel prices.
While the improvement in electricity supply is a positive development for manufacturers, the industry remains vigilant about energy costs and their impact on production.
Dangote Group Subsidiaries Contribute N474 Billion in Taxes to Federal Government Over Three Years
In a significant testament to its commitment to corporate citizenship and financial responsibility, three subsidiaries of the Dangote Group have revealed that they paid a substantial total of N474 billion in taxes to the Federal Government over the past three years.
The disclosure was made by Hashem Ahmed, an official representing the multibillion-dollar conglomerate, during the opening ceremony of the 18th Abuja International Trade Fair, which focused on the theme ‘Sustainable financing and taxation as drivers of the new economy.’
The Dangote Group, led by its President Aliko Dangote, stands as not only the largest private-sector employer but also the country’s leading taxpayer. The remarkable N474 billion contribution was primarily made by Dangote Sugar, Dangote Cement, and Dangote Salt.
Also, the group has a longstanding history of extensive financial support, empowerment initiatives, corporate social responsibility programs, sponsorships, and philanthropic endeavors, amounting to several billions of naira.
Hashem Ahmed also expressed the group’s satisfaction with the Federal Government’s commitment to tax reform policies aimed at broadening the tax base and providing essential funding for infrastructure development in the country.
The Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, who spoke at the event, announced the government’s comprehensive plan to support small businesses and startups amid Nigeria’s economic challenges.
The plan includes a N75 billion investment by March 2024 to bolster the manufacturing sector, grants for microbusinesses in every local government, and a N75 billion fund to support up to 100,000 startups and MSMEs at favorable interest rates repayable over 36 months.
The government has also initiated partnerships with tech giants like Microsoft and the African Development Bank, signaling a bright future for Nigeria’s economic growth and innovation.
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