Environment Reporting in Annual Reports: A Comparative Analysis of Reporting Practices of Listed Firms in Nigeria

Environment reporting practice is a relatively new concept with a global affirmation and sanction. It requires transparency and sincerity of disclosure among the practicing firms and as required under the law. The broad objective of this study is to carry out a comparative analysis of reporting practices and its effect on performance (proxy by total assets) of listed oil and gas firms on the one hand and consumer goods firms in Nigeria (on the other hand). The study adopted the ex-post facto research design whereby existing and published data of reporting companies have been sought through their annual reports. Data for analyses were obtained through secondary sources, namely, the annual reports and accounts of the sampled companies. The Nigerian oil and gas subsector has 12 listed firms while the manufacturing sub-sector has 31 companies, from which three firms each (total of six) were sampled for the study. The purposive sampling technique was adopted in the choice of firm to be included in the study; Mobil oil and gas, MRS Oil Nig plc and Total Nig plc were chosen from the oil and gas sector while Nestle Nig plc, Nigerian Breweries plc, and Dangote flour Mills were selected from the consumer goods industry. The analyses adopted the use of SPSS version 20.0 and the essential tools were the correlation coefficient, the coefficient of determination and the simple regression analysis model. It was found that discretionary social responsibility reporting practices (donations and gifts) have significant effects on performance of both oil and gas firms and consumer goods companies in Nigeria. The study recommends that firms should consolidate on discretionary SR practices to ward off restiveness in the communities where they operate.


INTRODUCTION Background of the Study
The UN through its agency United Nations World Commission on Environment and Development (UNWCED) in 1987 made the proclamation that: "development is assessed as sustainable when it meets the needs of the present without compromising the ability of the future generations to meet their own needs. In Nigeria, an increased level of consciousness can be observed with regards to the relationship that exists between sustainable development and the quality of the environment. Severe environmental degradation appears to be threatening the long term sustainable development prospects of the Country" (Oba, 2012).
The implication is that adequate efforts have not been channeled to strike equipoise between development objectives and the need to maintain desirable environmental quality. Presently, there is a growing concern of the society as well as business organizations on environmental issues and the importance of disseminating environmental information.
The concept of Corporate Environmental Reporting was introduced in the early 1990s and since then it has rapidly gained acceptance as the means of communicating and demonstrating a company's commitment to improving corporate environmental performance to its 2. Ascertain the effect of economic social responsibility reporting practices on total assets of firms in Nigeria; 3. Evaluate the effect of discretionary reporting practices on total assets of firms in Nigeria

Research Questions
The following research questions are designed to secure the necessary answers to the specific objectives: 1. What effect does ethical social responsibility reporting practice have on total assets of firms in Nigeria? 2. What are the effects of economic social responsibility reporting practices on total assets of firms in Nigeria? 3. How do discretionary social responsibility reporting practices affect total assets of firms in Nigeria?

Statement of Hypotheses
The following hypotheses are used to test the significance of the specific objectives: H01: Ethical social responsibility reporting practices does not have significant effect on total assets of firms in Nigeria.
H02: Economic social responsibility reporting practices does not have significant effect on total assets of firms in Nigeria.
H03: Discretionary social responsibility reporting practices does not have significant effect on total assets firms in Nigeria.

Significance of the Study
This study will benefit the managers of all firms in the private and public sector that are involved in environmental management process. It will help in decision-making process and drive functional and purposeful planning and implementation of work programmes especially in environmental issues.
The study will also be a premise or reference point for those whose interest is to carry out further studies on this or related topic(s). This material will be useful for provision of reference materials that would enrich the body and the literatures of such works.

Scope of the Study
This study covers reporting practices of some listed firms in Nigeria for the period 2008-2017. For the purpose of specificity the study deals with 3 out of the four known aspects of CSR reporting practices of the selected firms. The four aspects of CSR reporting are economic social responsibility reporting, ethical social responsibility reporting, discretionary social responsibility reporting and legal social responsibility reporting. The study has excluded the legal CSR and it has been carried out in Nigeria.

Limitations of the Study
The researcher encountered some constraints that might affect the outcome or generalization of results in this study. These limitations include sample size, the methodology adopted and paucity of necessary data and the materials used.
"Environmental reporting" can be called in different names depending on its purpose and contents, such as a "sustainability reporting," which include social and economic aspects or a "social and environmental (CSR) reporting" which describes activities based on corporate social responsibility (CSR). Environmental reporting defined in these guidelines refers reports and publications which are periodically disclosed and which holistically and systematically stating the state of environmental burden caused by organizations' activities and environmental efforts that mitigate them, and which are in accordance with general reporting principles of environmental reporting. Therefore, environmental reporting defined by these guidelines includes those statements that contains information about corporate social responsibility or sustainability. Environmental reporting relies on using a range of indicators to measure and report on the overall health of our environment in a cost-effective, practical, and meaningful way. State of the environment reporting is widely used as an environmental management tool (New Zealand's Department of the Environment and Heritage, 2007). It uses environmental indicators to draw together scientific knowledge, information, and data to track: a. environmental trends b. activities that have an impact on the environment c. the effectiveness of environmental policies and management actions Sineriz (2018)

explains economic social responsibility as responsibility that begins with being profitable in business and capable of sustaining payment of employees' salaries and wages, paying business taxes and other financial obligations.
Corporations can show economic social responsibility by being transparent with all stakeholders regarding the financial status of their business.

Concept of Ethical Social Responsibility
According to Sineriz (2018) economic and legal corporate responsibility provides the groundwork for corporations to move into ethical social responsibility, which means doing the right thing at all levels of your business. This ranges from paying employees a living wage to ensuring that the companies you work with and buy materials from are abiding by all labor laws.
In addition to ensuring ethical workplace practices, you should also look at the environmental impact your business makes. If possible, consider using recycled materials and clean energy. Go beyond meeting the minimum environmental requirements and look at how you can exceed those requirements, which gives consumers a good impression of your brand.

Concept of Discretionary Social Responsibility
Discretionary social responsibility means using your company's time and resources to contribute to the community at large in whatever way is meaningful for you and your brand.

This may include providing your employees with opportunities to volunteer; donating money, services or products to charitable organizations; or initiating your own charitable organization that ties into your company's mission and goals.
You may want to support multiple organizations or simply focus your efforts on one or two meaningful ones [Sineriz, 2018].

Theoretical Framework Legitimacy Theory
This study is guided by the legitimacy theory. Legitimacy theory according to Aghdam (2015), cited by Abubakar and Akomolafe (2017) simply imply that companies' consideration, concern and expectation of company to appear legitimate in stakeholders' point of view and pledge that their activities are in socially and acceptable and safe manner. As the organization continues to operate within the domain and norms of society and predicts a firm will use many disclosure strategies to preserve an image of a socially responsible corporate citizen to ensure continued access to resources needed for the success of the business. Gamble, Hsu, Jackson & Tollerson (1996) investigated the annual report disclosures of environmental information for 276 companies representing nine broadly defined industries and 27 countries for the years 1989 through 1991. The principal findings are: (1) there is a statistically significant difference between the 1989 and 1990 individual and overall disclosures; (2) there is a statistically significant negative difference between the 1990 and 1991 individual and overall disclosures; (3) the United States provided the highest percentage of companies reporting environmental information; and (4) the British-American accounting model produced the highest percentage of companies employing the different environmental disclosure forms. Md. Ullah, Yakub and Md. Hossain (2013) empirically investigated the extent of environmental disclosure by selected listed companies in Bangladesh. This study also attempted to report the association between company specific attributes and environmental disclosure of the sample companies. The study revealed that on an average sample companies disclosed 8.53 (15.23%) of the expected information in their annual reports and environmental disclosure volume and total asset of the companies are significantly correlated. The study opined that companies of Bangladesh are disclosing very inadequate environmental information in their annual reports. The study's expectation was to play an important role in creating consciousness among the users and preparers of annual reports in disclosing more environmental information. Akbas and Canikli (2014) investigated the status of the environmental disclosures of companies operating in a developing country, Turkey. Our sample consists of 62 non-financial firms listed on the BIST-100 index in the financial year 2011. The annual reports of sample firms for the years of 2010 and 2011 are analyzed through content analysis, which is widely used in the research of this topic. Although there is a decrease in the proportion of companies that disclosed environmental information from 2010 to 2011, it was found that there is a significant increase in the level of environmental disclosure by Turkish listed companies. The results of the study also show that Turkish companies disclose mostly narrative information and the level of disclosure of environmental information varies across sectors. Dibia and Onwuchekwa (2015) did an empirical analysis of the determinants of environmental disclosures using oil and gas companies in Nigeria. Specifically, the study objectives are to examine the effect of Firm size, Profit, Leverage and Audit firm type on environmental disclosures. The cross-sectional research design was utilized in undertaking the study. A sample of 15 companies drawn from the oil and gas sectors of the Nigerian stock exchange for 2008-2013 financial years was used for the study. Secondary data was sourced from the annual reports of the sampled companies while the Binary regression technique was used as the data analysis method.

Empirical review
The finding of the study shows that firstly; there is a significant relationship between company size and corporate social responsibility disclosures. Secondly there is no significant relationship between Profit and corporate social responsibility disclosures. Thirdly, there is no significant relationship between Leverage and corporate social responsibility disclosures. Finally, there is no significant relationship between audit firm type and corporate social responsibility disclosures. The study concludes that the voluntary stance of environmental reporting has often be used as a cliché for companies to under report their effect on the environment and this is responsible for the negligence of several corporate entities with regards to corporate social and environmental reporting. The study recommends that incentives be put in place to motivate disclosures. Jerry, Teru, and Musa (2015) analyzed environmental accounting disclosures practices of Nigerian quoted firms and see how it varies from one company to another since there are no mandatory disclosure guidelines. A sample of 8 quoted companies was selected out of 19 consumer goods companies listed on the Nigerian stock exchange. Content analysis was used to obtain data from published annual reports of 2013 of the selected firms. And the data obtained were analyzed using one way analysis of variance to test the hypothesis. It was discovered that accounting standards do not significantly influence environmental accounting disclosures the non-existence of the standard Leads to lack of uniformity in disclosure and variations obtained in testing the hypothesis. It is recommended that with the pressures companies are subjected to disclose every information about their operations, it would be proper if the international accounting standards setting body comes up with a uniform standard on how companies should disclose their environmental accounting information. Basit (2016) study has focused on assessing the impact of environmental reporting on the performances of the firms in the USA for the year 2015. The research has been undertaken on the Manufacturing companies listed in the National Association of Securities Dealers Automated Quotations (NASDAQ). The study was a quantitative research with the adaptation of descriptive explanatory research design. Previous researches have assessed the firms' performance from one or two dynamics of environmental reporting. However, based on the literature review, this study would be signifying itself through the implication of the three key issues in today's time. Thereby, Greenhouse Gas Emission, Water Consumption and Waste Disposal have been utilized as independent variables, whilst Market Share has been implied as a measure of firms' performances.
Unuagbon and Oziegbe (2016) carried out a study in attempt to reveal the relationship that exists between a company's performance and its voluntary disclosure level. The sample of the study was drawn from fifty (50) companies listed on the Nigerian Stock Exchange (NSE) and Ordinary Least Square (OLS) regression analysis was used to test the data generated from their annual reports. The study found out that there is significant positive relationship between companies' performance and the extent of their voluntary disclosures. The study then recommends amongst others that regulatory authorities should ensure that companies disclose information to its stakeholders that will enable them make informed decisions.
Alawiye-Adams and Akomolafe (2017) examined the inadequacies of corporate environmental disclosures both in quantity and quality amongst manufacturing firms in Nigeria. In order to achieve an in-depth study and wider coverage of the subject-matter; secondary data were obtained from the annual reports of fourteen (14) manufacturing firms. The annual reports were examined for a period of six years (2010 to 2015). The companies were selected based on judgement or purposive sampling. Interpretative content analysis was used to elicit information from the annual reports. The study revealed that corporate environmental disclosure is still at its lowest ebb amongst manufacturing firms in Nigeria and there will be a need for sensitization, regulatory compulsion or government intervention for companies to participate in corporate environmental disclosure. The obvious benefit of this will include the opportunity to resolve issues concerning climate change; particularly dimensions of global warming.
Egbunike and Tarilaye (2017) sought to examine the association between firm's specific attributes (firm size, earnings, leverage and governance) and voluntary environmental disclosure with evidence from listed manufacturing companies in Nigeria. To achieve this, data of firm size, earnings, leverage and governance were obtained from the annual reports and accounts of some selected manufacturing companies during 2011-2015. Data collected were analyzed using both descriptive and inferential statistics.
First, it was revealed that some of the studied manufacturing companies have high leverage profile while some with low leverage profile. In addition, some companies' environmental items were not disclosed in their annual reports and accounts while some were disclosed and described in monetary terms. Second, the normality test for the residuals showed that the hypothesis that the residuals are normally distributed is rejected.. Third, the robust regression result validates all the hypothesis of the study that there is a positive relationship between environmental disclosure, firm size, leverage, earnings per share and governance of the studied manufacturing companies in Nigeria. It was recommended among others that governance structure of companies should be reinforced by assigning more independent directors in the board composition. Abubakar (2017) study was in the influence of firm attributes on environmental disclosure of listed breweries companies in Nigeria. The population of the study consists of five breweries companies listed on the floor of Nigerian stock exchange. The sample size of the study is four companies. The sample was drawn based on data accessibility. Data were collected from annual reports of the selected companies for the period of five years that is from 2012 to 2016. Multiple regression technique was employed to analyze the data. Profitability (PROF), firm size (FRMS), leverage (LEV) and board size (BDS) were used as proxies to measure the firm attributes. While contents analysis was maintained to measure environmental disclosure.
The study found board size has negative but significant influence on environmental disclosure with value 0.0089; leverage has negative and insignificant influence on environmental disclosure with value 0.8229. Where firm size has positive insignificant influence on environmental disclosure with value 0.1951, profitability has positive significant influence on environmental disclosure of listed breweries companies in Nigeria. The study recommended that breweries companies should disclose more environmental information as it leads to increase in profit.
Yahaya (2018) examined the influence of environmental accounting on firm financial performance in Nigeria. The results of the few studies are mix suggesting that more research is required. This study contributed to this debate by examining the effect of environmental disclosure practices on financial performance of listed environmentally-sensitive firms in Nigeria. Return on assets was used to proxy firm financial performance while environmental disclosure practices were measured by green reporting index, which is a product of environmental reporting quality and quantity.
Data in respect of return on assets were extracted as a ratio of earnings before taxes divided by total assets, while data on the quality and quantity of environmental reporting were extracted through content analysis from the annual reports and accounts of the firms. Descriptive (mean, standard deviation, minimum and maximum mean) and inferential statistics (correlation and regression) were used to analyze the data. The correlation results showed that environmental reporting practices and financial performance have positive and significant relationship. The regression results showed that environmental reporting has positive and significant effect on financial performance. The study recommended among others that environmentally-sensitive firms should sustain and enhance reporting of their environmentally friendly activities since they enhance financial performance.
Uwuigbe et al (2018) provided an insight into the bi-directional relationship between sustainability reporting and firm performance in quoted Deposit Money Banks (DMBs) in Nigeria. While the population size comprises of all deposit money banks quoted on the floor of the Nigerian Stock Exchange, judgmental sampling technique was used in the selection of the sampled banks. Considering the period 2014-2016, the annual report and stand-alone sustainability reports of the selected banks were analyzed through the use of content analysis and coded in order to obtain the sustainability disclosure index. The panel regression technique was used to analyze the data. The empirical findings show that there is a bidirectional relationship between sustainability reporting and firm performance of quoted Deposit Money Banks (DMBs) in Nigeria. This finding confirms the proposition of the legitimacy theory. The study observed that the market price per share of the samples firms had a significant negative influence on sustainability reporting. In addition, the study also out that sustainability reporting had a significant positive influence on revenue generation of the sampled firms.

Source: Researcher's compilation
Having reviewed the various empirical studies as shown in the table above, it was discovered that almost all the authors employed the same content analysis and regression technique to analyze their data. It was also observed that the studies revealed that environment reporting practices have positive relationship with performances of firms in Nigeria.
However, the researcher realized that none of the studies had anything to do with comparative analysis of reporting practices of listed firms in Nigeria. Therefore, this study focuses on environment reporting in annual reports with the aim of making a comparative analysis of two sectors of the economy, namely, the oil and manufacturing firms in Nigeria.

METHODOLOGY Research Design
The study adopts the ex-post facto research design whereby existing and published data of reporting companies have been sought through their annual reports.

Sources of Data
Data in use have been obtained through secondary sources, namely, the annual reports and accounts of the sampled companies.

Population of the Study
The two populations of interest in this study are the oil and the manufacturing sectors in Nigeria. The Nigerian oil and gas subsector has 12 listed firms while the manufacturing subsector has 31 companies (See Appendices A & B).

Sample Size Determination
There are two populations in this study, namely, the oil and gas sector and the manufacturing firms. The researcher has purposed to select three (3) firms each from each population. For proportionality, the researcher had determined to select 1 from every 4 oil and gas firms while 1 also was selected from every 9 firm in the population. This was determined by employing a simple sampling technique: The purposive sampling technique was adopted in the choice of firm to be included in the study. Therefore, Mobil oil and gas, MRS Oil Nig plc and Total Nig plc were chosen from the first population while Nestle Nig plc, Nigerian Breweries plc, and Dangote flour Mills were included. The inclusion of these firms is justified by the fact that they availed the researcher [to a great extent] the needed data for the period under study.

Model Specification
The model specified for this study is simple regression equation.

Description of Variables in the Model
The variables involved in the specified model are explained hereunder: Yi represents the dependent variable proxy by total assets of the firm. Xi represents the independent variables proxy by:-(X1) Ethical Social Responsibility; (X2) Economic Social Responsibility; and (X3) Discretional Social Responsibility β0 represents the constant absolute contribution to Yi βi represents the variable absolute contribution to Yi

Method of Data Analysis
The analyses adopted the SPSS version 20.0 and the essential tools were the correlation coefficient, the coefficient of determination and the simple regression analysis model. Data were analyzed based on the two samples for comparative purposes.

PRESENTATION AND ANALYSIS OF DATA Presentation Of Data
Data on the amount spent on CSR under the four particular variables in oil and gas as well as in consumer goods firms are presented below:  The model summary reveals that the degree of association or correlation between ethical SR and Total Assets is positive and considerably high at r = 0.569 or 56.9%. The analysis also shows that the coefficient of determination (r 2 = 0.324 or 32.4%) is low. Therefore, it could be inferred that ethical social responsibility (payment of staff salaries and entitlements) is not a strong determinant of performance in the oil and gas companies. The model summary reveals that Economic SR has a positive and very strong correlation with total assets of oil and gas companies in Nigeria at r = 0.890 or 89%. The analysis also shows that the coefficient of determination is very high (r 2 = 0.792). This implies that economic social responsibility explains 79.2% of the changes in total assets of oil and gas companies in Nigeria.

Source: Compilation of Annual Reports & Accounts of Mobil, MRS & Total plc
Hypothesis 2 H02: Economic social responsibility reporting does not have significant effect on performance of oil and gas companies in Nigeria

Decision:
The test of hypothesis shows that p-value < 0.05, hence do not accept H02. We therefore conclude that Economic SR has significant effect on performance of oil and gas companies in Nigeria. This shows that economic social responsibility made a constant annual contribution of over N43 trillion to total assets of firms in the oil and gas industry during the period. The annual rate of change or variation was 21.878. The model summary indicates that r = 0.862 (i.e. 86.2%) while r 2 = 0.743 (i.e. 74.3%). It reveals that Discretionary SR (donations and gifts) reporting has significant effect on total assets of oil and gas firms in Nigeria. It also implies that discretionary SR strongly determines the changes or variations in performances (proxy by total assets) of oil and gas firms in Nigeria.

Hypothesis 3 H03:
Discretionary Social Responsibility has no significant effect on performance of oil and gas firms in Nigeria.

Decision:
The test of significance shows that p-value = 0.001 < 0.05. Therefore, we reject H03 and accept the alternative hypothesis, and conclude that discretionary SR reporting has significant effect on performance of oil and gas firms in Nigeria. The descriptive statistics show that there is a total number of ten years distributions of data list wise. The distribution has one dependent variable (Total Assets) and three independent variables (ethical SR, economic SR and discretionary SR reporting).
The minimum total asset is N244,699,651 while the maximum is N1,168,848,067. These are also the highest values among the minimum and maximum variables. The least minimum value reported is 31674 under discretionary SR while the least maximum value 18537072 also comes under discretionary SR.
However, there is a more equitable distribution of the data under economic SR than the rest variables as the standard deviation under Discretionary SR is smallest (S.D = 5460064) while the highest disparity occurred among total assets distribution. The model summary reveals a very low but positive correlation between ethical SR reporting and total assets of the consumer goods companies in Nigeria at r = 0.288 or 28.8%. Similarly, the analysis shows a very insignificant value of coefficient of determination (r 2 = 0.083). This means that ethical SR does not strongly determine or explain the variations in total assets of consumer goods manufacturing companies in Nigeria. The model shows that there was a constant and positive annual contribution of over N758 trillion to total assets of consumer goods companies in Nigeria during the period. The analysis also shows that there was a negative annual variable contribution (βi = -4.928) to performance in Nigeria. The model summary indicates that r = 0.346 or 34.6% and r 2 = 0.120 or 12.0%. This means that economic SR has a positive but very low correlation with total assets of consumer goods companies in Nigeria. This also implies that economic SR is a very weak determinant of performance in the consumer goods sector in Nigeria.

Hypothesis 2 H02:
Economic social responsibility report does not have significant effect on performance of consumer goods companies in Nigeria. With r = 0.819, the analysis reveals that there is a very high and positive correlation between discretionary SR reporting and total assets of the consumer goods companies in Nigeria. In the same vein, r = 0.671 or 67.1%, meaning that discretionary (i.e. donations and gifts) SR reporting practices strongly determine the variations in total assets hence the performance of consumer goods companies in Nigeria.
H03: Discretionary Social Responsibility reporting does not have significant effect on performance of consumer goods companies in Nigeria. The model reveals that discretionary (donations and gifts) SR reporting has contributed a constant annual value of over N488 trillion to total assets of consumer goods companies for the past ten years in Nigeria. reporting practices did not have significant effect on performance of both Oil and Gas firms and Consumer Goods manufacturing companies during the period under study. On the other hand, Economic SR (i.e. payment of tax and statutory fees) reporting practices did not have significant effect on performance of Oil and Gas firms, but showed or had significant effect on performance of Consumer Goods SR reporting during the period.

Comparative Analysis of Oil and Gas and Consumer Goods SR Reporting
It is noteworthy that Discretionary SR recorded significant effect on the two sectors in Nigeria during this period. This is in tandem with the researcher's expectations because donations and gifts are the major tools used by many firms across board to create good image and pacify aggrieved communities in all areas of companies' operations. It is in consonance with Global Best practices especially in the oil and gas industry that is seen to be destructive and environmentally unfriendly. Competent discretionary SR is capable of warding off the danger of community anger and frustration, and putting at bay youth restiveness.

CONTRIBUTION TO KNOWLEDGE
The study has contributed to the knowledge that two sectors (oil and gas firms and consumer goods companies) have been compared and it was possible to draw conclusion based on the findings. It is the researcher's belief that no other study has been carried out using these two sectors prior to this time in Nigeria.

SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS Summary of Findings
The following summary of results was achieved through the comparative analysis on Social Responsibility reporting practices of two sectors (Oil & Gas and Consumer goods companies) in Nigeria.
For the Nigerian Oil and Gas companies, it was found that: 1. Ethical social responsibility reporting practices do not have significant effect on firm performance 2. Economic social responsibility reporting practices has significant effect on firm performance. 3. Discretionary social responsibility practices have significant effect on firm performance.
On the other hand, it was found that in the consumer goods manufacturing companies: 1. Ethical social responsibility reporting practices do not have significant effect on firm performance 2. Economic social responsibility reporting practices do not have significant effect on firm performance 3. Discretionary social responsibility reporting practices have significant effect on firm performance

Conclusion
The study has been able to achieve a considerable level of comparative analyses of two divergent sectors and the response to social responsibility practices. The results have been impressive and intriguing as there is now a confirmation that both sectors have deployed discretionary SR perhaps in order to caution harmful outcome on companies operations in Nigeria no matter which sector is involved. The outcome also corroborates the views and expectations of many people including the researcher that SR is meant to address the problem of environment reporting practices especially in this crucial period of youth restiveness.

Recommendations
The following recommendations are the fallout of the findings in this study: 1. Management of both oil & Gas and Consumer Goods manufacturing companies should step up efforts to improve their ethical (i.e. payment of staff salaries and entitlements) social responsibility practices to bring the firms to the point of significance in terms of performance. 2. More attention should be paid to economic social responsibility (payment of tax) practices by Oil & Gas firms and the consumer goods firms. So many firms in both sectors appear not to report on tax responsibility or perhaps under reporting the phenomenon for reasons that hinge on tax evasion or avoidance. Tax authorities should do the needful to make companies comply with such reports. 3. The firms on both sides should consolidate on discretionary social responsibility practices (i.e. donations and gifts) to maintain the good impression that the communities have on them. This will help minimize the incidence of youth responsiveness in concerned communities.

Areas for further Studies
The following areas are recommendations that may be of interest to future researchers: 1. Effect of Social responsibility practices on performances of quarrying firms in Nigeria 2. Responsiveness of Social Responsiveness reporting practices to performances of the pharmaceutical industry in Nigeria. 3. Corporate social responsibility and firms' growth in the oil and gas industry: Evidence from Nigeria