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This study explores how sustainability reporting influences the financial performance of listed oil and gas firms in Nigeria.

May 19, 2026Open Access

Effect of Sustainability Reporting on Financial Performance of Listed Oil and Gas in Nigeria

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Randomized trial examines sustainability reporting effects on financial performance in Nigeria's oil and gas sector, indicating mixed implications.

This study explores how sustainability reporting influences the financial performance of listed oil and gas firms in Nigeria.
Analyzed secondary data from annual and sustainability reports of Nigerian oil and gas firms from 2013 to 2023.
Utilized Generalized Least Squares regression for data analysis.
Economic sustainability reporting showed a significant positive effect on financial performance (ROA).
Environmental sustainability reporting had mixed effects; proactive disclosures improved reputation but increased costs did not favor short-term profits.
Social sustainability reporting negatively affected financial outcomes, highlighting challenges in community investments.

NUHU et al. (2026) studied this question.

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Randomized trial examines sustainability reporting effects on financial performance in Nigeria's oil and gas sector, indicating mixed implications.