EFFECT OF OWNERSHIP STRUCTURE ON ENVIRONMENTAL DISCLOSURES OF LISTED OIL AND GAS COMPANIES IN NIGERIA

Environmental degradation linked to oil and gas operations has intensified the demand for corporate environmental accountability, motivating this study to examine the effect of ownership structure on environmental disclosure among listed oil and gas companies in Nigeria. Specifically, the study investigated the impact of government ownership and institutional ownership on environmental disclosure. A correlational research design was adopted, using secondary panel data collected from the annual reports of eight listed oil and gas firms between 2012 and 2023. The study employed census sampling and analyzed the data using fixed effects panel regression with robust standard errors after conducting diagnostic tests. The results showed that government ownership had a negative but statistically insignificant effect on environmental disclosure, while institutional ownership had a significant negative effect. The study concludes that both government and institutional owners in the Nigerian oil and gas sector do not actively promote environmental transparency. It recommends stronger regulatory enforcement, institutional investor engagement in sustainability practices, and mandatory disclosure frameworks to enhance environmental accountability. Keywords: Ownership Structure, Government Ownership, Institutional Ownership and Environmental Disclosure