Friday, 16 February 2018

Corporate Social Responsibility In Nigeria (CSR) : All You Need To Know 

This post contains all the quick facts that you should know about Corporate Social Responsibility In Nigeria (CSR). 

Corporate social responsibility abbreviated as CSR is a form of corporate self regulation integrated into a business model.

Companies in a particular country ensures its active compliance with the national law or international standards of a state,in a nutshell, CSR ensures that companies take responsibility for the company's effects on environmental and social well being of the people living in that area. 

Some people will argue that CSR is a relatively new especially in developing third world countries,but the fact still remains that Nigeria is not fully utilizing CSR and in most cases decide to over look it.
Listed below is some of the quick facts about CSR in Nigeria that you should know. 

Corporate Social Responsibility In Nigeria (CSR)

1. Regulation 

Most companies in Nigeria do not take CSR seriously as there is no body or organization that is dedicated and committed to make sure that companies are made to take responsibility for their actions. 

2. Responsibility 

Companies should be made to understand that disposing their waste products into the environment will not be allowed,hence these companies should be made to devise environment friendly means of disposing their waste product.

3. Leverage

Nigeria is a country with so many natural resources and also one of the largest economy in Africa,it's only normal that there should be a lot of multinational companies in Nigeria because of the abundance of natural resources.

Nigeria however has decided not to capitalize on this fact, a lot of other countries in the world has benefit tremendously from the presence of multinational companies in their country,but in Nigeria,the reverse is the case. 

4. Corruption

Under normal circumstances indigenous and foreign multinational companies should be made to follow strict rules and regulations concerning the CSR.


5. Employment 

If the Corporate Social Responsibility was effective In Nigeria,the level of unemployment will reduce. 

Indigenous and multinational foreign companies will be told to employ more Nigerian workers than foreign workers,this will reduce the number of unemployment in Nigeria,however in most companies in Nigeria,the reverse seems to be the case.  

6. Environmental Pollution 

Most of these companies pollute the environment without clearing it up,for example the oil spillage in the oil rich Niger Delta region of Nigeria some years raised a lot of controversy as the oil companies in that region did not effectively clean up the oil spillage. 

7. Health

The effect of toxic waste from these companies has an adverse effects on the residents of that community as they always face a lot of Health challenges,most of these companies act as if they don't know the effect of their activities on the health of their host community.

Read Also: How To Become An Entrepreneur In Nigeria

In Conclusion

Corporate Social Responsibility In Nigeria (CSR) is not as effective as it should be,the government of Nigeria should stand firm and implement a solid CSR system which should benefit her citizens.

The Federal Government should realize that it can make the lives of her citizens much easier if they can enact and enforce a much solid CSR in Nigeria. 

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