AN ASSESSMENT OF THE IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON SUSTAINABLE DEVELOPMENT IN NIGERIA

Abstract

Corporate Social Responsibility (CSR) has emerged as a significant mechanism for promoting sustainable development, particularly in developing countries where social, economic, and environmental challenges remain prevalent. In Nigeria, CSR is increasingly becoming an integral aspect of corporate practice compared to earlier periods when such initiatives were less prominent. This study examines the impact of CSR on sustainable development in Nigeria using a conceptual and descriptive research design based on a systematic review of secondary literature. Findings from the review indicate that CSR contributes positively to long-term economic growth and societal development, although its short-term impact is often constrained by weak regulatory frameworks and inadequate institutional coordination. The findings further reveal that organizations implementing CSR initiatives improve corporate reputation while simultaneously contributing to community development and environmental sustainability. The study concludes that CSR remains a critical instrument for achieving sustainable development in Nigeria and other developing economies and recommends stronger regulatory enforcement, improved institutional frameworks, and enhanced stakeholder collaboration to maximize CSR outcomes.