Corporate Social Responsibility and Financial Performance of Oil and Gas Firms in Nigeria

This study examined the effect of corporate social responsibility on financial performance of oil and gas firms in Nigeria from 2018 to 2023. The study was anchored on Stakeholder theory. The population of the study consisted of ten oil and gas firms in Nigeria that are listed on Nigeria Exchange Group as at December, 2023 while the sample size consisted of five (5) oil and gas firms in Nigeria. The study made use of secondary data which were sourced from Nigerian Exchange Group. Ordinary Least Square regression technique was the method of data analysis adopted. The results of the study revealed that: corporate social responsibility expenditure and corporate social responsibility disclosure have a positive and significant effect on net profit margin and return on asset of oil and gas firms in Nigeria. The study concluded that corporate social responsibility plays a significant positive role in improving the financial performance of oil and gas firms in Nigeria. The study recommended that management of oil and gas firms should ensure that social responsibility is inbuilt into their policy statements and back up with effective budget.