Environmental Sustainability And Performance Of Oil&Gas Companies In Nigeria

Abstract

This paper examined environmental sustainability and performance of oil & gas companies in Nigeria. Financial performance (FP) is a subjective measure of how well a firm can use assets from its primary mode of business and generate revenues. The term is also used as a general measure of a firm’s overall financial health over a given period. A company’s financial performance refers to its health as a whole and the money it makes from its operations. Allocating resources effectively to meet objectives and boost profits is at the heart of this practice. The integrity of Nigeria’s oil and gas data relies on it completely. The sustainability of oil and gas in Nigeria is becoming questionable due to environmental factors that were not properly accounted for, and this prompted the researcher of this study to zero in on the effect of corporate social responsibility on the bottom lines of Nigeria’s publicly traded oil and gas firms. This study used an ex- post facto method for its research, using data from secondary sources such as annual reports and the Nigerian stock market. Therefore, this paper concludes, based on the data provided, that sustainability reporting significantly affects the company’s financial performance for listed oil and gas businesses in Nigeria. Based on the findings of this study, oil and gas companies in Nigeria should make public disclosure of their sustainability efforts a top priority if they want to improve their bottom lines. Compliance in the industry as a whole can be improved if policymakers and standard-setting organizations work together to make it easier for industries to design and execute sector-specific reporting regulations.