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Corporate social responsibility under the Petroleum Industry Act 2021: achieving environmental sustainability through multi-stakeholder partnership.

Debski, Joy A.; Ezeani, Elimma C.

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Abstract

Several attempts have been made by the Nigerian government to reform the oil and gas industry. In March 2007, the first attempt to introduce the Corporate Social Responsibility (CSR) Bill was initiated by the late Senator Uche Chwukwumerije, but it failed to pass the second reading. Further attempts to reform the industry in 2009, 2012 and 2018 also failed, until the National Assembly passed the 2021 Petroleum Industry Bill, now known as the Petroleum Industry Act 2021 (PIA). Chapter 3 Section 240 (2) of the PIA has changed the voluntary and self-regulatory element of CSR to "hard" law, by making CSR contribution a mandatory levy on corporations. The authors are of the view that a multi-stakeholder approach and multi-stakeholder framework - comprising host communities, oil and gas companies as well as government - is essential to achieving the broad requirements of CSR in the Nigerian oil and gas industry. In this paper, we analyse this approach in line with the role and challenges of CSR, as provided for under the PIA.

Citation

DEBSKI, J.A. and EZEANI, E.C. 2022. Corporate social responsibility under the Petroleum Industry Act 2021: achieving environmental sustainability through multi-stakeholder partnership. African journal of engineering and environment research [online], 3(1), pages 1-24. Available from: https://ajoeer.org.ng/otn/ajoeer/2022/qtr-1/01.pdf

Journal Article Type Article
Acceptance Date Jan 2, 2022
Online Publication Date Feb 22, 2022
Publication Date Jan 31, 2022
Deposit Date Feb 28, 2022
Publicly Available Date Feb 28, 2022
Journal African journal of engineering and environment research
Print ISSN 2635-2974
Electronic ISSN 2635-2974
Publisher Centre for Petroleum Pollution Control and Corrosion Studies (CEFPACS) Consulting Limited
Peer Reviewed Peer Reviewed
Volume 3
Issue 1
Pages 1-24
Keywords Corporate social responsibility; Petroleum industry and trade; Petroleum Industry Act (2021); Nigeria
Public URL https://rgu-repository.worktribe.com/output/1585232
Publisher URL https://ajoeer.org.ng/otn/ajoeer/2022/qtr-1/01.pdf
Related Public URLs https://rgu-repository.worktribe.com/output/1607047 (Original conference presentation version)

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