Why Corporates Must Seek Experts’ Advisory

 Omolabake Fasogbon

Given current economic volatility and regulatory intricacies, businesses need to adopt strategic expert advisory to optimise operations, ensure sustainability, and stay competitive.

This was the position of the Lead Consultant at Safety Consultants and Solutions Provider Limited (SCSP), Antonia Beri.

Speaking at a press conference in Lagos ahead of SCSP’s Conference scheduled to hold April 3, with the theme, “Securing Business Value, Investments and Assets through Expert Advisory and Technical Services,” Beri cited how multinationals, including Dangote Group and MTN Nigeria have been leveraging proactive engagement with advisory partners to fortify their business objectives and asset integrity. 

According to her, leveraging expertise was not a luxury, but a backbone of resilience, maintaining that a well-executed advisory strategy will help businesses unlock untapped potential and safeguard asset from unseen risks. 

“Dangote Group’s $19 billion refinery project and MTN Nigeria’s regulatory overhaul demonstrate a major value of strategic advisory. Dangote partnering with global firms like HSBC, Deloitte was able to secure end-to-end financial and technical consultancy to mitigate risks associated with construction delays, cost overruns, and regulatory hurdles. 

“MTN tapping the strength of players like PwC, and KPMG was able to reinforce its governance structures after facing a $5.2 billion regulatory fine in 2015.

“Both companies were able successfully mitigate risks, optimise operations and reinforced compliance, resulting in improved logistics and cybersecurity, enhanced governance and fraud detection, reduced costs and regulatory penalties as well as Increased investor confidence and stakeholder trust.” 

Beri, while expressing concern that only a fraction of corporates in Nigeria work with experts’ advice, stated that the forthcoming conference in Lagos would address this gap, amid other risk management issues. 

“The high-level forum will equip business leaders and investors across sectors as construction, ICT, manufacturing, Oil& Gas, amongst others with the tools needed to navigate today’s complex financial and regulatory landscape. 

“With the increasing complexity of business risks today, we shall be leveraging our expertise in advisory and technical process safety services to provide industry leaders with the right strategies, tools, and technical safety solutions to mitigate risks, and drive long-term profitability”