TRIPLE-BOTTOM LINE ACCOUNTING AND SUSTAINABLE DEVELOPMENT IN NIGERIA

Abstract

This study scrutinizes the correlation stuck between Triple Bottom-Line accounting and sustainable development in Nigeria. In other to achieve this purpose, theory was formulated and examinations of correlated collected works were researched upon. Ex-post facto design was the research method carried. Oil and gas manufacturing firms registered in the Nigerian Stock Exchange Fact Book for the year 2015 was the restricted sample for the study. Accessible archives recognized just seven (7) firms. The studied data upon which the research is formulated is the secondary data on triple bottom line accounting and sustainable development wherein respondents were collected by means of the Central Bank of Nigeria Statistical Bulletin of several years, Financial Statements of oil and gas companies listed in the Nigeria Stock Exchange and Bertelmann’s Transformation Index of the World Bank Group. The researched Data were studied by means of inferential and descriptive statistical tools with the support of statistical package for social sciences version 22. Succinctly, the research discoveries made from this study discovered that there is a succinct positive significant impact of triple-bottom line on sustainable development in Nigeria. This suggests that, a rise in the implementation of Triple-Bottom Line accounting will straightaway leads to a growth in sustainable development. Centred on the available outcomes of this study. We therefore draw conclusion with a model which displays that Triple bottom-line accounting has a very high significant relationship with sustainable development in Nigeria. It was suggested that Triple-Bottom Line accounting as a point of need should be assumed by operational business firms, the government should as well introduce regulatory measures to enforce its adoption, and all recognized accounting boards should improve standards to escort the measurement and acknowledgment of social and environmental performances in the financial statements of organizations if only sustainable development by oil and gas producing companies must be a realism.