Impact of Sustainability Reporting on the Financial Performance of Listed Consumer Goods Firms in Nigeria

Recently, sustainability reporting has attracted global consideration causing deserved global focus. This could be credited to the fact that stakeholders have grown massive interest in firms’ non-financial activities. Based on this, this study examined the impact of sustainability reporting on the financial performance of quoted consumer good firms in Nigeria. The study employed secondary data extracted from annual reports and accounts of 26 quoted consumer goods firm on the Nigerian Stock Exchange market for a period of 10 years (2015 – 2024). Ex-post facto research design was adopted, and the data were analyzed through panel regression analysis guided by Hausman and LM test and the technique was used to report and analyze the data. The study employed two dependent variables return on assets (ROA) and return on equity (ROE) while the independent variables are environmental factors, economic factor and social factors of responsibility reporting. The findings of this study reveal that all the variables: environmental, social and economic factors have a positive significant impact on the financial performance of quoted consumer goods firms in Nigeria. The study, therefore, concluded that sustainability reporting has no significant effect on financial performance of listed consumer goods firms in Nigeria. and further recommended that sustainability reporting should also be integrated in the financial statement of consumer goods firms and adequate report should be included so that the firms can have a significant impact on social responsibility.