The Relationship Between Sustainability Culture and Funding in the Nigerian Power Generation Sector

Over the past four decades, the power industry in Nigeria has continued to experience a continuous deterioration, which can be partly attributable to inadequate infrastructure development, which has been ultimately related to insufficient funding for the sector. The growing evidence of investors driving corporate sustainability and the increasing popularity of impact funding has forced a reevaluation of whether a sustainability culture in Nigerian power generating companies will attract investors to the power generation sector. The objectives of this study are to investigate how sustainable business practices can be embedded in organizational culture to drive corporate sustainability and explore whether the implementation of sustainable business practices attracts impact funding in the Nigerian power generation sector. To achieve these objectives, an interpretivism ideology that prioritized qualitative over quantitative analysis was developed. As a result, an explanatory research design was chosen, and literature review research was employed for this study. The literature study necessitated the review of numerous earlier research works, which provided the researcher with a wide range of options for answering the research questions effectively and adequately. Internal and external factors drive organizations to adopt corporate sustainability, and different approaches are used to establish a culture of sustainability within an organization. The most appropriate approach is establishing an organizational framework that enables organizations to incorporate sustainable business practices into their organizational culture. With growing number of impact investors companies in the Nigerian power generation industry can harness a culture of sustainability to attract investor funding in the power generation sector. The study advises that empirical research be undertaken on this topic to gain more insight into revitalizing Nigeria’s power generation sector.