Big audit firms earn N175 billion as KPMG tops revenue, PwC leads client count

Nigeria's leading audit firms generated more than N175 billion in combined revenue during their 2025 financial years, according to an analysis of Transparency Reports published under Rule 12 of the Financial Reporting Council of Nigeria. KPMG Professional Services reported the highest revenue, while PwC disclosed the largest number of audit clients.

The review covered seven firms: PwC, KPMG, Ernst & Young, BDO, Grant Thornton, Deloitte & Touche and Forvis Mazars. Together, they accounted for more than 1,350 client entries. Deloitte's Nigerian report did not disclose revenue figures, so the combined total excludes Deloitte.

KPMG tops revenue with N67 billion

KPMG reported N67 billion for the financial year ended September 30, 2025. Audit services brought in N18 billion, while non-audit work contributed N49 billion. Advisory and tax services to non-audit clients generated N41 billion, over 60% of total revenue.

KPMG disclosed 281 entities, second behind PwC. Its clients include Access Holdings, First Bank, FBN Holdings, Dangote Cement, Flour Mills, Central Bank of Nigeria, Development Bank of Nigeria, Wema Bank, Unity Bank, Promasidor and Unilever.

PwC leads with 295 clients, N55.36 billion revenue

PwC reported 295 entities in its 2025 Transparency Report. Clients include NNPC, Nigeria LNG, Seplat Energy, BUA Cement, BUA Foods, Zenith Bank, Julius Berger, Guinness Nigeria, PZ Cussons, FrieslandCampina WAMCO and Flutterwave.

PwC's revenue stood at N55.36 billion as of June 30, 2025. Audit services accounted for N24.9 billion, and non-audit services brought in N30.46 billion. That is about N11.64 billion less than KPMG.

EY earns N42.27 billion, BDO leads non-Big Four

EY reported N42.27 billion for the year ended June 30, 2025, and disclosed 223 entities. Audit and assurance brought in N13.98 billion, while non-audit services contributed N28.29 billion, roughly 67% of revenue. EY clients include MTN, Nestlé, UBA, GTCO, Standard Chartered, NGX Group, Paystack, Moniepoint and Interswitch.

BDO disclosed 209 entities, making it the largest non-Big Four firm by client count. Its revenue was N4.14 billion. Grant Thornton listed 171 entities, Deloitte disclosed 125, and Forvis Mazars reported 46.

The revenue mix shows Nigeria's top firms now earn more from advisory, tax and consulting work than from traditional audits. For businesses, that means accounting firms are chasing higher-value services beyond statutory audits.