Research Purpose: With growing global emphasis on corporate social responsibility and sustainability, this study investigates the impact of environmental disclosure on the corporate performance of oil and gas firms in Nigeria. It focuses on the effects of health, safety, and environmental expenses on Return on Assets (ROA) and Earnings Per Share (EPS).
Methodology: A descriptive and ex-post facto research design was adopted, utilising panel data from nine oil and gas firms listed on the Nigerian Stock Exchange. Hypotheses were tested using Ordinary Least Square Regression analysis and content analysis.
Findings: The results indicated that health, safety, and environmental expenses significantly affect both Return on Assets and Earnings Per Share of oil and gas firms in Nigeria.
Conclusion: Active engagement in environmental activities by oil and gas companies in Nigeria significantly enhances their financial performance. Environmental costs are shown to have a significant relationship with financial performance at a 5% significance level.
Recommendations: Management should increase environmental spending and disclosure to boost stakeholders' trust and transparency, ultimately leading to better financial performance.
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