I am pleased to present to you the maiden edition of our Report on the Top 10 Business Risks in 2016 which represents a momentous year in the history of the Nigerian economy. The economic outlook is currently challenged due to our vulnerability to the continuous decline in the price of crude oil, volatility in the stock markets, tight monetary & fiscal policies, rising inflation, currency depreciation, insecurity & insurgency across the country. All these together with increased regulatory pressure have created ripples in the hearts of many Nigerian businesses.

Consequently, the Risk Consulting practice of KPMG Nigeria conducted a Risk Management survey (‘the survey’) aimed at identifying the key risks that stakeholders believe will impact organisations in the nonfinancial sector in 2016. The survey was used to obtain and aggregate the perspectives of several Executive Directors and Senior Management Staff on the key risks likely to affect businesses in the manufacturing, energy and telecommunications sectors. The rich and diverse representation of our respondents helped us to reach logical conclusions on the top 10 risks including capturing notable differences in viewpoints.