As global focus intensifies on sustainable and ethical business practices, Environmental, Social, and Governance (ESG) compliance has become a critical issue for companies not only across the globe but particularly Nigeria. In Nigeria, regulatory requirements, investor appeal, and other stakeholder interest are aligning to make ESG compliance a non-negotiable component of doing business in Nigeria. While ESG at the moment is by no stretch of imagination fully rooted in the Nigerian Corporate culture, it is clearly very much making the leap towards its. Companies can no longer afford to treat ESG as a public relations issue. Companies now tend to give it due consideration in the context of risk management, regulatory compliance, and long-term profitability.
In this article, we examine the legal landscape, regulatory drivers, and risk of non-compliance with ESG requirements in Nigeria.