CORPORATE SOCIAL RESPONSIBILITY REGULATION BILL

What Is This Policy?

A bill to establish a regulatory framework for corporate social responsibility (CSR) in Nigeria, mandating and guiding CSR practices for companies operating in the country.

Who Does It Target?

Corporations, businesses, communities, civil society organizations, and government regulatory agencies.

What Does It Aim to Achieve?

Establish clear CSR standards and obligations, promote responsible business practices, ensure communities benefit from corporate activities, and improve social and environmental outcomes.

Key Features

Mandatory CSR Framework: Establishes legal requirements for corporate social responsibility Community Benefits: Ensures host communities receive tangible benefits from corporate activities Accountability: Creates reporting and compliance mechanisms for CSR activities

Current Status

Rollout Stage: Under legislative consideration Coverage: All corporations operating in Nigeria Funding: Corporate funding; implementation costs borne by companies

How to Access

Not yet in force. The bill is progressing through the National Assembly.

Impact & Metrics

Would formalize CSR in Nigeria, potentially improving community development and corporate-community relations.

Official Resources

Website: nass.gov.ng Contact: National Assembly, Three Arms Zone, Abuja

Legal Framework

Introduced under the legislative powers of the National Assembly vested by Section 4 of the 1999 Constitution (as amended). Draws on the Companies and Allied Matters Act (CAMA) 2020, the Petroleum Industry Act 2021 (host community development trust provisions), and the NESREA Act on environmental responsibility. Aligns with the UN Guiding Principles on Business and Human Rights, the OECD Guidelines for Multinational Enterprises, and the ISO 26000 on Social Responsibility.