SUSTAINABILITY PERFORMANCE OF NNPC LIMITED: A Triple Bottom Line Assessment

Abstract

ABSTRACT

The sustainability performance of NNPC Limited has in recent times become a topical issue of public discourse among various stakeldors within and outside Nigeria. This concern is largely prompted by the gradual negative impact of the corporation’s oil deregulation policy and the consequent rise in the prices of fuel which has plunged the country’s economy into gradual crisis. A study on the sustainability performance of the nation’s sole crude oil management entity is, therefore, more relevant in the present time than ever before. This paper examines the sustainability performance of Nigerian National Petroleum Company Limited. To achieve this objective, the study uses secondary data collected from the financial statements of the NNPCL for four years (2019-2022). Content analysis was used to analyse the data on Triple Bottom Line dimensions of Economic, (Total Revenue, Crude Oil Processed, Refineries Contribution, Contribution to Federation Account), Social (Safety Man Hours, Expenditure on CSR, Children Support, Students Training), and Environmental (Energy Conservation, Solar Power, Pipeline, Ethanol Blending) sustainability performance in NNPCL. The findings reveal that, the NNPCL impliments sustainability performance based on TBL dimensions across the study period, although the company performs below its potential, particularly on the social and community and its contribution to the Nigeria’s revenue generation. The study, therefoe,, recommends that the NNPCL should improve on implementing more programmes that will enhance the welfare of the citizenry and boost the Nigerian economy more efficiently.