THE NATIONAL BRANDS DEVELOPMENT AND THE MADE IN NIGERIA PROJECT OFFICE

 

PwC and EY Lead Nigeria's Audit Market, Reviewing 23 Companies Each in 2025

PricewaterhouseCoopers (PwC) and Ernst & Young (EY) emerged as the leading audit firms in Nigeria in 2025, with each auditing 23 major companies, according to an analysis of auditor disclosures from 128 listed and unlisted companies.

The review shows that both firms accounted for 17.97 percent of the total companies assessed, underscoring their dominant position in Nigeria's corporate audit and assurance market.

The analysis also highlights the continued concentration of the country's audit industry around a handful of globally recognized professional services firms, even as several indigenous and international audit practices continue to compete for engagements across banking, manufacturing, energy, telecommunications, consumer goods, and other key sectors.

Trailing PwC and EY is Deloitte & Touche, which audited 17 companies, while KPMG Professional Services handled audits for 13 companies during the period.

Collectively, the four largest audit firms, PwC, EY, Deloitte, and KPMG, audited 76 of the 128 companies reviewed, representing 59.38 percent of the sample. When PKF Professional Services is included, the top five audit firms accounted for 86 companies, or 67.19 percent of all organizations reviewed.

The findings demonstrate the continued confidence that many of Nigeria's largest companies place in established audit firms with extensive technical expertise, international networks, and experience in complex financial reporting and regulatory compliance.

Industry analysts note that while the dominance of the largest audit firms reflects their capacity to serve major corporations, it also presents opportunities for mid-sized and indigenous firms to expand their market share by offering specialized services, sector expertise, and competitive pricing.

As Nigeria's corporate governance standards continue to evolve, demand for high-quality audit, risk management, and advisory services is expected to remain strong. Increased regulatory scrutiny, sustainability reporting requirements, and growing investor expectations are likely to further shape competition within the country's audit industry in the years ahead.

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