Nigeria's ESG Reporting Set for 2028 Mandate Push

Experts are urging for stronger Environmental, Social, and Governance (ESG) reporting in Nigeria as the country moves towards a mandatory disclosure mandate set to commence in 2028. Chinw Kalu, a representative from a business services firm, highlighted that ESG considerations are becoming central to global investment decisions, necessitating that journalists understand sustainability reporting frameworks and their economic implications.

Agatha Afemikh warned that Nigerian companies are increasingly aligning with international standards, yet there remains a significant disclosure gap that undermines public trust and investor confidence. She emphasized that ESG issues are now critical determinants of financial performance and risk exposure.

The Nigerian government has already adopted international sustainability standards, with voluntary reporting beginning in 2024 and mandatory reporting for public interest entities expected by 2028. Additionally, small and medium-sized enterprises will follow suit by 2030.

Experts stress that stronger ESG reporting will be essential for ensuring corporate accountability and attracting sustainable investment, particularly as Nigeria faces significant economic risks linked to climate change.