EFFECT OF CORPORATE SUSTAINABILITY FACTORS ON CORPORATE PERFORMACE IN NIGERIA

ABSTRACT This study examines the effect of corporate sustainability factors namely environmental sustainability, social responsibility, corporate governance, and economic sustainability on corporate performance in Nigeria. Anchored on the belief that sustainability has evolved beyond compliance into a strategic driver of performance, the study adopted an ex-post facto research design and relied on secondary data from the annual reports of four purposively selected Nigerian firms (Julius Berger Nigeria Plc, Conoil Plc, Nigerian Breweries Plc, and Dangote Cement Plc) over the period 2011–2020. Regression analysis was used to determine the individual and combined effects of sustainability dimensions on firm performance. Findings reveal that environmental sustainability (β = 0.281, p = 0.003), social responsibility (β = 0.198, p = 0.016), and corporate governance (β = 0.245, p = 0.002) significantly and positively affect corporate performance, while economic sustainability (β = 0.163, p = 0.058) shows a positive but statistically insignificant relationship. These results suggest that firms prioritizing environmental care, social engagement, and sound governance tend to achieve superior financial outcomes and market standing. However, economic sustainability may require a longer-term horizon or stronger policy support to yield measurable performance gains. The study concludes that corporate sustainability practices are not just ethical imperatives but strategic assets that contribute to firm growth and profitability in the Nigerian context. It recommends that organizations embed sustainability into their core strategies to boost competitiveness and stakeholder value. This research contributes to the literature on the sustainability performance nexus in emerging economies and underscores the need for a proactive shift toward integrated sustainability practices among Nigerian firms.