The global practice of Corporate Social Responsibility (CSR) has come a long way yet, in Nigeria, it only gained momentum when disputes between prominent oil companies and their host communities exposed the importance of putting into consideration the impacts of business activities on the well-being of stakeholders. Recently, there are indicators that Nigerian corporate establishments have begun to take CSR seriously such as the reflection of CSR roles in corporate nomenclature, and a few case studies which compel others to reckon with its importance to the success of their business activities.
CSR in Nigeria was characterized by a muddled mix of charity, corporate philanthropy, emergency relief, scholarships, bonanzas, sponsorships, and other altruist gestures, the past few years have seen a steady evolution of the practice of CSR from a form of corporate philanthropy to a more structured and all-encompassing model. Yet, it still suffers from lack of structure in many organisations as past CSR reviews have revealed.
Hosting colleagues and stakeholders to its 2016 Review Presentation on Friday, June 23, 2017 in Lagos, Thistle Praxis Consulting, a management consulting firm in collaboration with IHS Towers, answered vital questions about the practice of CSR in Nigeria on different levels.
The Annual Review seeks to bridge the CSR information gap in Nigeria by assessing the state of CSR in every industry and gauging the perception of business leaders as to what constitutes CSR practices in the country. It was designed to answer vital questions about the practice of CSR in Nigeria – as an organisational strategy, philanthropy, or as a periodic charitable giving. It therefore examined the impact of CSR spending on businesses and on the entire economy.
Major findings of the report reveal that after five (5) years, health, education, and youth development still rank highest in CSR spending for many Nigerian organisations.
The dearth in data makes it very difficult to measure the effects or non-effects of CSR on the Nigerian social and business communities. This brings to fore the need for a comprehensive study of CSR practices across organisations in the public, private and non-profit sectors in order to ascertain the structure, strategic objectives, and estimated spending.
This study, ‘The State of CSR in Nigeria: 2016 Annual Review’ will offer research companies, NGOs, Government, Professionals, Academia, Media and other stakeholders useful and comprehensive information on current socio-economic and environmental trends in CSR in Nigeria as well as the thrust of investments in Nigeria.
To view result, click here