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CSR Digest
2nd March 2009


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CSR Digest
by Daniel Chandranayagam


 
www.csrdigest.com
 


Nigeria: Legislating CSR

Nigeria may join a small number of countries in the world to legislate on corporate social responsibility (CSR). A bill, which proposes that businesses spend 3.5% of its gross profits on CSR, is currently being debated in  the National Assembly. 

It has been reported that the motivation for the bill is because CSR initiatives by companies in Nigeria are lacking. Apparently, the country’s government has felt that legislation and a supervisory body to enforce the laws are adequate solutions. The bill also proposes the establishment of a commission, whose duties include providing standards, integrating social responsibility and international trade issues, conducting research and investigations into community needs, informing businesses of requests, and ranking of organisations according to their CSR initiatives.

The commission will also publish an annual report of social and environmental impact of businesses’ activities, develop policies to encourage corporations to become engaged in the community, and ensure that companies sponsor cultural and educational activities that add value to Nigeria’s socio-political and technological development.

Criticism of the bill is rife. Nigeria has been reported to have a long list of direct and stealth taxes as it is. Further, it has been suggested that, rather than legislating, the Nigerian government should try to promote CSR through persuasion and complementary activities.

Indonesia,  a developing country  like Nigeria,  also blessed with a high population  of  well over 200m,  was the first country to pass a CSR legislation.  The CSR legislation was also keenly opposed by the private sector  in Indonesia and international observers but was eventually  passed by the  county’s lawmakers in 2007.

But the wind of change blowing across the globe appears to be supportive of CSR regulation because for example, beginning  2010, hundreds of the largest private and state-owned companies and institutional investors in Denmark must compulsorily  include corporate social responsibility information in their annual financial reports. “The Danish Parliament voted in mid-December 2008 to force the 1,100 largest enterprises to describe their corporate CSR or socially responsible investment policies, the ways in which they've been implemented and the results they've produced.”

It is likely that many nations are watching Nigeria, and waiting to find out if the CSR law works in Africa. If it does, it is likely that many other countries might find similar laws proposed and implemented over time.
 

    Printable page here

October 22, 2009
Mayflower Foundation presented at the 3rd
annual HOPE worldwide CSR Conference


September 17, 2009
Mayflower Foundation Nigeria registered and
ready to start operations


April 6, 2009
Mayflower to launch with quick win programmes

March 18, 2009
Nigeria Seeks Better Image With Rebranding

March 2,  2009
Nigerian Bill On Corporate Social Responsibility
currently being heard at the National Assembly

December 28, 2008
International Standard (ISO 26000) providing
guidelines for social responsibility (SR) nears
completion


November 3, 2008
NEW ERA appointed by LASAA to develop a
strategy to harness CSR initiatives in Lagos

 

A Better Day In Lagos” is a portfolio of CSR programmes in Ebute-Metta, Lagos Mainland, set up by The Mayflower Foundation

©2009 The Mayflower Foundation all rights reserved

Contact Mayflower Foundation here

Initiated by Lagos State Signage and Advertisement Agency

Contact LASAA here

Visit LASAA website
Visit New Era Partners website

Mayflower concept, design and management by New Era Partners

Contact New Era Partners here