Corporate Social Responsibility Practices and Financial Performance of Nigerian Oil and Gas Companies

• Author(s): Oke O. D. ; E. T. Olatunji ; Remi Aworemi F. I.
• Paper ID: 1705403
• Page: 515-517
• Published Date: 30-01-2024
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 7 Issue 7 January-2024

Abstract

This study delves into the intricate relationship between Corporate Social Responsibility (CSR) practices and the financial performance of major Nigerian oil and gas companies. Against the backdrop of the industry's paramount role in Nigeria's economy and the associated environmental and social challenges, the research evaluates the extent of CSR initiatives undertaken by these companies. Employing a longitudinal design spanning 2010-2021 and utilizing panel data from annual reports, the study scrutinizes CSR indicators and financial metrics, with a particular focus on return on assets. While existing literature on the global business case for CSR provides mixed results, this research contributes valuable insights specific to the Nigerian context, shedding light on the nuanced dynamics between CSR engagement and financial outcomes in the country's oil and gas sector. The findings suggest a limited impact of CSR expenditure on profitability, emphasizing the need for further exploration and nuanced policy considerations within the evolving landscape of Nigeria's oil industry.

Keywords

CSR, Financial Performance, Nigeria, Oil and Gas, Environmental

Citations

IRE Journals:
Oke O. D. , E. T. Olatunji , Remi Aworemi F. I. "Corporate Social Responsibility Practices and Financial Performance of Nigerian Oil and Gas Companies" Iconic Research And Engineering Journals Volume 7 Issue 7 2024 Page 515-517

IEEE:
Oke O. D. , E. T. Olatunji , Remi Aworemi F. I. "Corporate Social Responsibility Practices and Financial Performance of Nigerian Oil and Gas Companies" Iconic Research And Engineering Journals, 7(7)