It is an established fact that the priority of a company is to do business and make profits. Having said that, the best to do business is by doing it well. Doing it well transcends meeting legal standards, payment of taxes and compliance with regulatory and environmental guidelines, but a commitment to contribute in building a better society. If applied properly, CSR serves as a strategic wealth-creation mechanism for enhancing the competitiveness of business and maximizing the value of wealth creation to the society.
Oil Companies and CSR
As with most businesses, profit maximization is chiefly at the core of business pursuits by oil companies operating in Nigeria, predominantly, in the Niger Delta region of Nigeria. Years of reckless and irresponsible oil operations have devastated the environment and stripped local populations of their traditional livelihoods. The extreme emphasis on profit above environmental wellness has not only fuelled unrest within host communities’, but forced widespread agitations for oil to be left alone in the soil.
Reports have shown that there are over 300 host communities and over 4 million Nigerians in the host communities who are negatively affected by operational hazards of companies which involve:
Health hazards – Gas flares and high volumes of crude oil are spilled into the Niger-Delta environment causing sicknesses like non-lymphatic leukemia, lung and skin cancer, asthma, Type 11 diabetes, sarcomas, bronchitis, cardiopulmonary disease, thyroid, spontaneous abortion and miscarriages, cough, respiratory illness, rhuematod and arthritis. 08036538165