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Corporate Social Responsibility (CSR): An Elixir for Socioeconomic Development in Nigeria

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  • Sunday Israel Akinde

    (Adekunle Ajasin University, Nigeria)

Abstract

Nigeria appears too slow in harnessing domestic resources towards meeting her socioeconomic needs. However, CSR has been found in several contexts as important means of realizing much–needed expectations of development. Nigeria is currently at the level of perceiving CSR merely as one-off philanthropic thing focusing merely on environmental protection. This study employs various means such as success stories of others, methods adopted for realization of vibrant CSR initiative in their own experience, and some time-tested examples of road map towards international best practices in order to arouse the curiosity of policy makers in Nigeria. The study identified certain structural- functional elements working in tandem for effective realization of CSR in Nigeria. These include Synergy of CSR and Corporate Governance (CG), a viable CSR organization, and institutionalization or culture of monitoring and control. Policy measures recommended include creating CSR into an agency or commission for effective take-off.

Suggested Citation

  • Sunday Israel Akinde, 2020. "Corporate Social Responsibility (CSR): An Elixir for Socioeconomic Development in Nigeria," European Journal of Business and Management Research, European Open Science, vol. 5(4), July.
    • Handle: RePEc:epw:ejbmr0:v:5:y:2020:i:4:id:50376
    DOI: 10.24018/ejbmr.2020.5.4.376
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