Toluna

Industry solutions

TBS Professional Services aids clients across virtually every industry and area of public service. We have combined our expertise in sectors in which all our disciplines are represented so that we can offer the support you need irrespective of the services you have asked us to provide. We do not only base our services on our own expertise, but we make allowance for specific circumstances in any industry. Every sector comes with its own particular issues and challenges. That is why TBS Professional Services has specialists who focus on specific industries. They not only qualify as experts in their field, but they also know all about each industry, which is why they are perfectly positioned to offer proactive advice and support.

TBS Professional Services has deep know-how in a wide range of industries and the quality of service we deliver plays a major role in influencing why our clientele keeps growing in diversity. Choosing us mean clients can accelerate their business by leveraging best practices developed through years of experience in supporting some of the best organizations.

Our capabilities and quality credentials enable us to provide solutions to support the following industries:

Education
Education is both a private and social investment that is shared by individual students, their families, employers, government and other groups including international agencies. Nigeria has made considerable progress in this domain. But significant challenges still continue plague the system. Some of the issues include deterioration of teaching and other infrastructural facilities, the welfare of those engaged in the teaching profession and the ever increasing cost of education. A good standard of education is of fundamental importance to the competitive position of the Nigeria, which is why the government wants to improve the quality of education. Given the downward trend in education, it is vital that the financial function at educational establishments is handled properly.

TBS Professional Services provides government with information on developments in the education sector, support on planning and control cycle and the creation of a financial management system. We work with school managements to remediate internal control deficiencies, improve the efficiency of the financial reporting processes and ensure compliance to enhance operating performance. We provide strategic, proactive guidance through a variety of audit, tax, consulting, risk advisory, and performance services, each designed to provide the targeted solutions you expect.

Financial Services
TBS Professional Services has dedicated itself to serving in all key areas of the financial services industry. Our work draws on dozens of years of experience gained from partnering banks and financial institutions. We know that the field of financial services is adorned with rules and regulations that alter constantly, regulatory oversight, shareholder influence and clients’ interests. We also understand that what financial institutions want more than anything is to be reliable and stable because the success of their business is dependent on the trust of their clients. To gain this trust it is important that processes are controlled and risks are managed.

TBS Professional Services has specialists who are well schooled in the relevant rules and regulations and know help organizations in this sector to comply with the requirements. Our services cover all aspects of financial services including governance, Compliance (implementation, study and interpretations), risk management, audit opinions, financial statements, financial reporting structure (IFRS) and tax services.

Construction
TBS Professional Services thrives on awareness. We are mindful that the construction industry is sometimes characterized improbability, complexity and volatility. Business processes and operating results are under constant pressure.

To thrive in the construction business requires efficiency and cost control, which in turn can only be provided a strategic team of trusted advisors. That is where we come in. We have the expertise necessary to help construction companies make strategic choices. Our proficiency covers developing tax deferral strategies, implementing cost segregation and optimizing capital expenditure initiatives. We also provide contract compliance audit, enhanced controls, valuation advisory and forensic accounting.

Technology and telecoms
For the enterprise in today’s highly competitive world, the strategic components in developing and maintaining competitive edge are telecommunications and information technology. The expansion of Nigeria’s telecommunications network is helping to accelerate development across the nation.

Thanks to a combination of creativity and business acumen, TBS Professional Services brings a unique capacity that supports the industry. We have the knowledge skills and competencies to understand the complex linkages of telecom technologies. We assist companies in this industry on matters regarding right staffing, reliable financial information and innovative financial processes.

Real Estate Services
Nigeria is experiencing a real estate boom as seen in rising demand for commercial space and housing. The real estate market in Nigeria is valued at N6.4 trillion ($41.2 billion). It is estimated to grow by an average of 10 per cent each year. There are a number of reasons for this: growing population, rapid urbanization, rising consumer disposable income and the introduction of mortgages. There are therefore opportunities for property companies in terms of development of the residential and commercial segments. However, this requires expertise, experience and a good network. Moreover, investors need to be able to be creative and flexible.

TBS Professional Services offer innovative cost reduction strategies real estate firms, owners and property management companies to help protect their investments. We provide advice and support in the areas of financial analysis, tax services management and operation, depreciation and valuation, due diligence investigation, capital formation, construction audits and business valuation advisory.

Manufacturing
Following the rebasing of Nigeria’s Gross Domestic Product, the manufacturing sector has become very influential in terms of jobs and product. After a decade of flat growth, new policies are promoting manufacturing and helping it to contribute to the country’s rise as an emerging market as well as creating opportunities for industrial enterprise.

Manufacturers are keen to reduce operational expenditure, invest in process improvement, utilize existing capacity optimally and increase efficiencies, while maintaining product quality and meeting safety and regulatory norms. TBS Professional Services provides them the bandwidth to innovate on their business models. We have knowledge of the manufacturing sector and how to maximize strategies for its profitability. We help businesses in this sector to minimize challenges and increase opportunities through the provision of audit advisory valuation, tax services and consulting.

Hospitality and Entertainment
The Nigerian hospitality industry is fast becoming more competitive with the presence of international brands in recent years. The Nigerian hospitality scene is experiencing a steady and consistent ramping up with new entrants being able to sustain demand levels for quality accommodation and service. Each day brings a success story as well as good long term relationships with established hotel brands for the management of hotel facilities. The rebased economic indices factored in the contributions of the entertainment business to a resurgent sub-Saharan economy like Nigeria.  People are becoming more and more discerning when it comes to how they spend their money and their time. They continuously seek out new, more enjoyable, more comfortable, more relaxing and more affordable alternatives. This calls for creativity, innovation, teamwork and additional levels of service.

With challenges coming from mostly the absence of state provided infrastructure and services like electricity, water and security, hospitality and entertainment providers are faced with the task of reducing costs while continually improving service and the overall customer experience. Management must be mindful of economic conditions and consumer outlooks, technological developments, escalating staff costs, and access to capital. TBS Professional Services provides hospitality and entertainment clients with performance management, tax strategies, and cash flow preservation solutions that deliver meaningful benefits. Our goal is to find every opportunity to preserve our clients’ business success through insight into business returns, strategy, gross margin, personnel, relevant rules and regulations, finances and tax matters.

Healthcare
The quality of healthcare institutions in Nigeria is generally considered rather poor. There are shortages of medical supplies and hygiene conditions are problematic, especially outside the large cities. A major problem afflicting the healthcare system in Nigeria is the so-called “brain drain” of doctors and medical staff. It is estimated that there are four doctors for every 10,000 inhabitants. Highly-trained experts often leave the country in order to pursue their profession in countries with better infrastructure or higher wages.

With launch of the National Health Insurance Scheme (NHIS), Nigeria tried to strengthen the healthcare system by defining its own agenda. While it has been mostly adopted by companies and organizations, it has not translated into improved medical services, better medical professional training, better funding of healthcare facilities and improved medical standards.

These challenges should offer opportunities to an already multifaceted environment that is becoming even more complex.  As healthcare organizations think of innovative ways to improve healthcare quality, TBS Professional Services works with them to help minimize risks, improve productivity, and achieve objectives. We provide insight into financial affairs; perform audits for various healthcare institutions, such as hospitals, private clinics and pharmaceutical companies.

Oil and Gas
The oil and gas industry is filled with complexities and companies operating in it require a firm with an ability to properly interpret the requirements that are applicable to this industry’s unique issues. We understand the implications of the key issues across the oil and gas value chain and, depending on the client need, address them from a strategic and tactical level, using a blend of skills and experience from the range of services we provide. Accounting for the extractive industries is a specialist area that requires expertise and an understanding of the business.

At TBS Professional Services, we serve energy investors, operators, and their related service providers by boosting performance, leveraging incentive opportunities. We focus on the issues and provide an understanding of a series of major financial accounting principles and standards that are particularly germane to the oil and gas business. We understand the unique issues around taxation, accounting treatments, and business challenges faced by oil and gas companies. Our solutions translate into reduced costs, increased profits, and efficient processes.

Power
Nigeria is facing a very strong electricity challenge especially in a period driven by the demands of an ever increasing population. The difficulties facing the power industry in Nigeria ranges from generation to distribution of electricity. The power generation capacity available is far below the estimated growing demand for electricity. Other highlights of the problems include a high level of inefficiency in the power sector management, appalling state of power infrastructures, double digit transmission losses and low tariffs.

But Nigeria has begun reforms that in the long term would be beneficial to the country. This includes enabling private companies to participate in electricity generation, transmission, and distribution. This would allow for competition in the generating segment whiles both transmission and distribution segments remain as private monopolies. The reform is expected to generate some economic implications for the citizens and the prospective investors.

TBS Professional Services provides a range of broad services to the government and companies in the power sector. We deliver consulting and advisory services spanning business, technical, strategic management, economics and regulatory issues.

Government
TBS Professional Services knows one thing which our competitors take for granted. It is that understanding government culture is crucial for engagement. Within the public sector, we work with government agencies, non-profits and non-governmental organizations to bring new thinking and a focus on lasting solutions that deliver immediate value. We provide innovative strategies, training and consulting solutions that focus on improving capabilities, performance and attainable goals. We have much to offer any agency of government, at the local state and federal levels of government.

Our services are largely about relationships. In government there are two kinds of people: “top down” people who are in charge of decision making. And “bottom up” people who are the ones actually doing the work. We know how to develop relationships both groups.

The financial audit services experts at TBS Professional Services possess a strong understanding of all unique business, economic, and regulatory environments that can impact performance. Our professionals proactively identify potential accounting and business issues before they become problematic. We help the organizations below with dedicated tax advisory services.

Brentex Petroleum Services Ltd.
Construction Kaiser Ltd.
Elan Petrochemical Limited.
Express Petroleum & Gas Company Ltd.
Imo State Board of Internal Revenue (IMBIR).
Kogi State Board of Internal Revenue (KGBIR).
Lezamis West Africa Limited.
Mechanical & Engineering Kaiser Ltd.
Mobitel Limited.
Newhall International School, Lekki Lagos.
Ogun State Internal Revenue Service (OGIRS).
Oriflame Cosmetic Nigeria Limited.
Port Louis Investment Limited.
Red Star Oil & Gas Limited.
Southwest Trucks and Equipment Limited.

In an environment of increasing corporate transparency and continuously changing regulations, it is critical to select experienced audit partners that will provide your organization with tailored, objective assistance. Some of our clients include:

Digital Quest Limited.
Lezamis West Africa Limited.
Mcmanuel Oil and Gas Limited.
Newhall International School, Lekki Lagos.
Oriflame Cosmetics Nigeria Limited
Port Louis Investment Limited
Red Star Oil and Gas Limited.
Southwest Trucks and Equipment Limited.

TBS Professional Services provides advice and guidance on IFRS conversion both in a national and international context. We have team of experts that teaches  companies how implement IFRS, answers any IFRS-related questions your organization may have and offers tailor-made advice. We have done it for these firms.

Bi-Courtney Aviation Services Limited.
Bi-Courtney Limited.
Bumi Armada Nigeria Limited.
Century Bumi Limited.
Eczellon Capital Limited.
FBN Insurance Brokers Nigeria Limited.
Gyro Air Limited.
Jagal Ventures Limited.
Ocean Marine Security Limited.
Platform Petroleum Limited.
PPP Fluid Mechanics Limited.
Resourcery PLC.
Stabilini Visinoni Limited.

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