Environmental Responsibility Reporting and Financial Performance of Quoted Oil and Gas Companies in Nigeria (Published)
This study examined the relationship between environmental responsibility reporting and financial performance of quoted oil and gas companies in Nigeria. The study used secondary data obtained from the annual reports of 13 oil and gas companies quoted on the floor of the Nigeria Stock Exchange (NSE) for the years 2012- 2017. The study adopted the ordinary least square (OLS) regression method as the basic technique of data analysis. The study found significant positive relationship between financial performance and environmental responsibility reporting in the oil and gas sector of Nigeria. However, the findings of the study indicate that environmental responsibility reporting in Nigeria is still developing and that organizations operating in the oil and gas sector report very little information about the impact of their operations on the environment. This finding is not quite surprising as most multinational oil and gas companies are not quoted on the NSE, as such were not included in the study. The study recommended, amongst others, that the relevant authorities in the country formulate regulatory policies for the oil and gas sector organizations to abide by in order to include more information on environmental responsibility practices in their annual reports.