Challenges of Corporate Sustainability Reporting Among Quoted Companies in Nigeria

Abstract

Over the past decade, corporate sustainability reporting has become more common, as many countries have been institutionalizing it in their reporting requirements. This study is motivated by current challenges companies encountered and the need to investigate their state in line with the sustainability development Goal No. 7 of vision 2030. The study look for ways of ameliorating challenges of corporate sustainability reporting among quoted companies in Nigeria. The study adopted survey method and expost facto research design. The published annual reports of some selected quoted companies in Nigeria were content analysis and questionnaire was administered to effectively gather data. The nature of the study requires the use of both survey questionnaire and a content analysis of the annual sustainability reports of selected companies.  It was found that majority of the quoted companies in Nigeria have developed policy statements on their sustainability reports, but the contextual issues are not quantified in monetary terms rather they are not reported in the audited accounts of the companies. The study concluded there is need for more education and creation of awareness of sustainability as a way of carrying out business in an environment. Our recommendations include among others that there should be sustainability reporting board to regulate compliance among quoted companies in Nigeria, also that the Nigerian Exchange Group should incorporate fines and penalties for noncompliance, and this needs legal backing