The Trend of Corporate Social Responsibility Activities of the Quoted Nigerian Downstream Oil and Gas Industry

Abstract

The study appraised the trend of Corporate Social Responsibility (CSR) activities of the quoted Nigerian downstream Oil and Gas industry. The study used secondary data, sourced from audited financial reports of selected quoted companies in the Oil and Gas industry, Nigeria Stock Exchange Factbook and statistical Bulletin of the Central Bank of Nigeria on such variables like corporate social responsibility (donation), age of firms, profit after tax, and total assets. The study population consisted of 12 quoted companies in Oil and Gas industry in Nigeria. Eight companies with complete data were purposively selected in the industry. The study covered the period between 2013 and 2022 financial years. Data collected were analyzed using charts and trend analysis. Linear trend equation was used to determine whether there is upward trend or downward trend in the historical data. The results revealed that the trend of corporate social responsibility (CSR) activities of companies in Nigeria quoted Oil and Gas industry exhibited irregular and unpredictable pattern. This suggested irregular spending policy on corporate social responsibility among Oil and Gas firm. The study concluded that CSR, if properly implemented, could enhance financial performance of quoted downstream m Oil and Gas industry in Nigerian.