Sustainability Reporting and Financial Performance of Listed Oil and Gas Firms in Nigeria

This study investigates the relationship between sustainability reporting and the financial performance of quoted oil and gas firms on the Nigerian Exchange Group (NGX). Adopting an ex-post facto research design, descriptive and inferential statistics were used for data analysis while panel least square regression model was utilized to test the significance of the relationship between the variables. Results indicated that companies in the Nigerian oil and gas sector exhibit a considerable degree of sustainability disclosures. However, only social disclosure has a significant and positive effect on return on total assets (ROTA) while economic and environmental disclosure do not exert a significant impact on ROTA. This study concluded that oil and gas companies should focus on sustainability issues, provide better environmental disclosures in terms of content and quality to enhance stakeholder confidence and integrate sustainability practices into their core business strategy to strengthen the potential impact of sustainability reporting on economic performance.