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The Influence of Non-Financial Reporting on Stakeholder Engagement in Nigerian Businesses

  • Project Research
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  • NGN 5000

Background of the Study

Non-financial reporting, encompassing ESG disclosures and sustainability reporting, has emerged as a vital mechanism for fostering transparency and stakeholder trust. Unlike traditional financial reporting, non-financial reporting focuses on a firm's social and environmental impact, providing stakeholders with a holistic view of its operations. This practice has gained traction globally as a means of enhancing stakeholder engagement and fostering long-term business relationships (UNCTAD, 2024).

In Nigeria, where businesses face growing pressure to demonstrate their commitment to sustainability, non-financial reporting has become increasingly important. Stakeholders, including investors, customers, and regulators, are demanding greater transparency in how companies address environmental and social issues. However, the extent to which non-financial reporting influences stakeholder engagement in Nigeria remains underexplored, warranting further investigation (Eze & Nwogu, 2023).

Statement of the Problem

Despite the growing adoption of non-financial reporting in Nigeria, many businesses struggle to effectively engage stakeholders through these disclosures. Limited expertise, lack of standardization, and insufficient regulatory oversight contribute to inconsistent reporting practices. As a result, stakeholders may question the credibility of reported information, undermining its potential to enhance engagement (Chukwu & Adeola, 2024).

This study examines the influence of non-financial reporting on stakeholder engagement in Nigerian businesses, identifying best practices and areas for improvement.

Objectives of the Study

  1. To evaluate the current state of non-financial reporting in Nigerian businesses.

  2. To analyze the impact of non-financial reporting on stakeholder engagement.

  3. To identify challenges and propose strategies for improving non-financial reporting in Nigeria.

Research Questions

  1. What is the current state of non-financial reporting in Nigerian businesses?

  2. How does non-financial reporting influence stakeholder engagement in Nigeria?

  3. What challenges hinder the effectiveness of non-financial reporting in Nigeria?

Research Hypotheses

  1. Non-financial reporting does not significantly influence stakeholder engagement in Nigeria.

  2. Challenges in non-financial reporting do not significantly affect its adoption by Nigerian businesses.

  3. The current state of non-financial reporting is not significantly associated with stakeholder trust.

Scope and Limitations of the Study

This study focuses on non-financial reporting practices and their impact on stakeholder engagement in Nigeria between 2023 and 2025. Limitations include varying levels of adoption and industry-specific differences.

Definitions of Terms

Non-Financial Reporting: Disclosure of a firm's social, environmental, and governance performance.
Stakeholder Engagement: Interaction between an organization and its stakeholders to build trust and collaboration.
Sustainability Reporting: A subset of non-financial reporting focused on environmental and social impacts.





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