CFOs express less confidence in business outlook for 2017

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By Ediri Ejoh

LAGOS— Chief Financial Officers, CFOs, of companies across the country have expressed less confidence in the business outlook for economy growth in 2017.

They also identified unavailability and fluctuating rate of foreign exchange as a major impediment to businesses in the country.

According to a survey carried out by KPGM in Nigeria, which will be launched in Lagos today, the financial officers frowned on the operational challenges brought about by the weak state of infrastructure in the country.

Giving insight into the survey report, Partner & Head, Audit Services, KPMG in Nigeria, Mr. Tola Adeyemi, said despite agreement from majority of the CFOs on the challenges to be faced this year, they were optimistic that between the next two and three years, things would pick up but might not reach their full potential.

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