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

Debski, Joy A.; Ezeani, Elimma C.

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. 2021. Corporate social responsibility under the Petroleum Industry Act 2021: achieving environmental sustainability through multi-stakeholder partnership. Presented at the 1st International virtual conference of research Africa conference and exhibition (RACE 2021), 25 November 2021, [virtual event]. Hosted on CEFPAC Consulting website [online]. Available from: https://cefpacsconsultingltd.org.ng/race-2021/BARR%20JOY%20DEBSKI.ppt

• Presentation Conference Type: Lecture
• Conference Name: 1st International virtual conference of research Africa conference and exhibition (RACE 2021)
• Conference Location: [vitrual event]
• Start Date: Nov 25, 2021
• Deposit Date: Feb 28, 2022
• Publicly Available Date: Feb 28, 2022
• Keywords: Corporate social responsibility; Petroleum industry and trade; Petroleum Industry Act (2021); Nigeria
• Public URL: https://rgu-repository.worktribe.com/output/1607047
• Publisher URL: https://cefpacsconsultingltd.org.ng/race-2021/BARR%20JOY%20DEBSKI.ppt
• Related Public URLs: https://rgu-repository.worktribe.com/output/1585232 (Revised version, published as a journal article)