RSM identifies infrastructural development as catalyst for business growth
The Chief Executive Officer of RSM International Limited, Jean Stephens has identified ease of doing business, ease of capital, safety and security as vital tools for business growth in Nigeria.
Speaking during a visit to S.I.A.O in Lagos recently, Stephens expressed satisfaction with the present administration’s efforts at providing infrastructure and security in the country.
According to her, ”Nigeria has a record of steady growth and improved political stability. Recent rebasing of Nigeria’s GDP makes it the largest economy and market in Africa and the 26th largest in the world. Nigeria’s annual growth rate averaged 7 percent over the past decade.
Almost 40 million Nigerian live in consuming class households. As a result, the country is regarded as one of the fastest growing economies in the world with the GDP in 2015 at $510 billion.
“To sustain this yearlygrowth rate, the GON is liberalizing Nigeria’s economy, promoting public-private partnership and encouraging strategic alliances with foreign firms, especially for infrastructure development and technology acquisition in critical sectors such as security, power generation, transportation, and healthcare.
“The considerable strides that Nigeria have made in the recent decade have not been fully recognised outside the country, because of Nigeria’s security challenges have gain more coverage in the media than its economic success.”
Speaking further, she said “African countries need to invest in infrastructure, both human and physical. Without these investments their growth will not be sustainable. Prospects for UK businesses in Nigeria are especially promising in the following sectors: oil and gas equipment, healthcare services and medical equipment, electrical power generating equipment, computer hardware/software, telecommunications equipment, automobile parts and accessories and construction.
On his part, Brian Eaton, Managing Partner RSM South Africa said: “As far as the international audit is concerned, from the South African perspective, we have been rated number one. From RSM perspective, we expect all our members to comply with RSM International standards. Quality is very important to us’
RSM International is a global accounting, tax and consulting firm in 120 countries,