Lagos Audit Firm SIAO Partners Reports N31.5M Revenue in 2025
SIAO Partners, a Lagos-based audit firm, has reported revenue of N31.5 million in 2025. The figure comes from auditing a single client, MRS, despite the firm’s broader work with major Nigerian corporations. Founded in 2005, the company specialises in audit, tax, and advisory services for both local and international clients. The firm was established through the merger of four audit practices, taking its name from its founding partners: Smith, Ighodalo, Adewale, and Odiachi. Headquartered in Ikoyi, Lagos, it employs over 150 professionals who provide expertise in financial reporting and compliance.
In 2025, seven leading audit firms in Nigeria collectively earned N37.08 billion, up from N28.76 billion the previous year. SIAO Partners’ revenue, though modest compared to larger competitors, reflects its specialised focus. The firm’s client list includes major listed companies such as Zenith Bank, UBA, Access Holdings, Transcorp, Seplat, and Dangote Cement, alongside non-listed businesses with annual turnovers exceeding N100 billion.
The growth in audit revenues across the sector highlights the rising demand for professional assurance services. As corporate financial reporting grows more complex, firms like SIAO Partners play a key role in verifying financial records and ensuring transparency. SIAO Partners continues to serve high-profile clients while maintaining a targeted approach. Its 2025 revenue, though limited to a single audit, underscores the firm’s position in Nigeria’s corporate landscape. The broader increase in audit revenues signals ongoing reliance on independent financial verification.
