Corporate social responsibility as a source of sustainable development in Nigeria

Abstract

The aim of this thesis is to build a clear view of corporate social responsibility (CSR) as a source of sustainable development (SD) in oil and gas, and banking sectors in Nigeria. Also to develop a framework that supports the relationship between CSR and SD theories. The theory in this study presented a framework of the relationship between CSR and SD theories that was based on the triple bottom line framework of CSR introduced by John Elkington (1984), and the SD dimensions.
 
 The literature review in this study explained that CSR activities in corporate organizations is deemed successful when a business organization operates in a legal, ethical and ecological way in their operating environment. Hence, recognising CSR as a concept that facilitates SD or establishing a relationship between both theories is not enough. Activities that entails the creation and implementation of policies concerning CSR need to involve the members of the society or the community where a company operates.
 
 Data was gathered from published annual reports of case companies through the internet. Considering the analysis of the case companies CSR activities that contributes to SD, this study shows that CSR participation contributes to SD. The practical implication of this study suggests that government at all levels in Nigeria should collaborate with NGOs and other private sectors to establish a legal CSR and SD legislation that all corporations and business organizations must follow. The practical implication of this study also suggests that Nigerian firms should do more to integrate SD into their organizational CSR strategy.