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Sustainability, Financial Value Creation, and Inclusive Growth for Nigerian Manufacturing Companies

Sustainability, Financial Value Creation, and Inclusive Growth for Nigerian Manufacturing Companies
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Author(s): Obiamaka Adaeze Nwobu (Covenant University, Nigeria)
Copyright: 2025
Pages: 28
Source title: Diversity, AI, and Sustainability for Financial Growth
Source Author(s)/Editor(s): Huibrecht Margaretha van der Poll (University of South Africa, South Africa), John Andrew van der Poll (University of South Africa, South Africa)and Collins Chigaemecha Ngwakwe (University of Limpopo, South Africa)
DOI: 10.4018/979-8-3693-6011-8.ch008

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Abstract

The purpose of this chapter is to present the discourse on sustainability, financial value creation and inclusive growth for Nigerian manufacturing companies. The data was collected from the Corporate Register. The use of three sustainability reporting standards was analysed based on the stand-alone and annual reports of companies in four manufacturing sub-sectors. The use of the standards is still very low by manufacturing companies in Nigeria. Two stand-alone sustainability reports were found in the food and beverage sub-sector. Two stand-alone reports were prepared using the GRI and UNGC standards. The study proposes that the tone of corporate sustainability should come from the board of directors. The study also proposes a sustainability checklist including indicators adopted from the Global Reporting Initiative. By using a system of sustainability accounting, companies can record, collect information on sustainability, measure, recognise, and report sustainability information to stakeholders to increase financial value creation and inclusive growth.

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