Business Case for Integrated Reporting in the Ni gerian Oil and Gas Sector

Abstract

The oil and gas sector is the mainstay of the Nigerian economy, accounting for over 95% of its 
revenue. The study therefore examines the business case for the adoption of Integrated Report
ing in the sector. Secondary data were sourced from the annual reports and stand-alone sustain
ability reports of the six multinational companies operating in the Nigerian oil and gas sector. 
The results found that efforts to address environmental, social and governance reporting (ESG) 
were adhoc, short term and unrelated to the core activities of the corporations and as such were 
not integrated into their business strategies and model. Information on ESG was also dupli
cated over many medium in a haphazard and distorted form. The study therefore concluded 
that the introduction of integrated reporting will streamline performance reporting that is in line 
with international best practice in the sector