A Theoretical Perspective of Corporate Social Responsibility Disclosure Ethics in Nigeria's Delta Swamplands

Abstract

As a mono-product economy, Nigeria relies largely on oil revenues for its foreign exchange earnings. The Niger Delta region, which accounts for about 90% of the country's revenues, has remained the oil and gas producing hub, playing host to a number of oil Multinational Corporations (MNCs). However, from the empirical literature, oil exploration activities by Multinationals have left tales of environmental pollution and degradation, poverty, and misery in their wake, thus, creating corporate social responsibility (CSR) issues in the region. This study adopted a theoretical research design and critically evaluated the role of ethics in Firms' response to CSR practice and disclosure in Nigeria. More importantly, the study highlights the imperative of developing a CSR ethical framework based on best practices guidelines that will motivate firms to demonstrate greater responsibility in their conduct towards the environment in which they operate. Furthermore, the paper, underpinned by two predominant CSR disclosure theories: institutional and stakeholder theories, explored the salience of CSR regulatory guidelines in achieving improved ethical conduct of firms. Finally, the paper offers an institutional policy direction that could assist governments in developing ethical guidelines to promote CSR practice and disclosure by firms in a developing country like Nigeria.