Research Purpose: This study examines the level of sustainability disclosure by non-financial listed firms in Nigeria before and after the Nigerian Exchange Limited (NGX) issued sustainability reporting guidelines in 2018. These guidelines required listed firms to include sustainability reports in their annual reports from 2019.
Methodology: The population comprised 97 non-financial listed firms on the NGX. A sample of 30 firms was purposively and proportionally selected from seven sectors using stratified sampling. Data from 2016 to 2020 (three years before and two years after the guidelines' implementation) were analysed using content analysis, descriptive statistics, and percentages.
Findings: Results indicate that the level of sustainability disclosure in terms of quantity and quality remains low, with 32.89% and 20.35%, respectively.
Conclusion: Despite the NGX guidelines, sustainability disclosure among non-financial listed firms in Nigeria has not significantly improved, indicating the need for stricter enforcement.
Recommendations: The study recommends that the NGX and the Financial Reporting Council (FRC) make sustainability reporting compulsory and mandate external assurance of these reports to enhance transparency and accountability.
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