Responsiveness of Firm Productivity to Social Cost of Oil and Gas Firms in Nigeria

This study examined the responsiveness of firm productivity to the social cost of oil and gas firms in Nigeria. The study specifically determined the responsiveness of turnover to public infrastructure development of oil and gas firms in Nigeria, the responsiveness of turnover to public health maintenance of oil and gas firms in Nigeria, and also examine the responsiveness of turnover to environmental development cost of oil and gas firms in Nigeria. Data for the study was sourced through secondary sources of data collection from the annual reports and accounts of the sampled firms, the collected data were analyzed using multiple regression analysis. The result of the analysis shows that Turnover positively and significantly responds to the public infrastructural development of oil and gas firms in Nigeria. This result implies that the turnover of the oil and gas firms will improve as the firms become socially responsible by developing public infrastructure. Turnover positively and insignificantly responds to public health maintenance of oil and gas firms in Nigeria. The implication of this finding is that firm sales of the oil and gas firms will increase as the firms vote more money via corporate social responsibility to maintain public health facilities. Turnover positively and significantly responds to the environmental development cost of oil and gas firms in Nigeria. The implication of this finding is that firm sales of oil and gas firms will increase as the firm develops its environment. Based on the findings, the study recommends among others that Oil and gas firms in Nigeria should invest in the public infrastructural development of their host communities and even beyond. Such public infrastructure includes roads, bridges, parks, and so on.