Interplay between sustainable development and socio-economic sanctuary from a developing economy’s voluntary social disclosure

Abstract

Purpose

Social disclosure is a vital tool that can help organizations in developing economies, including Nigeria, measure and manage their social impacts and performances. This could help in achieving sustainable development goals and enhancing social and economic security. This paper aims to conceptualize the influence of social reporting and sustainable development on Nigeria’s socioeconomic security. It is vital for its recommendations to the government and stakeholders on the way forward on sustainable development and national security.

Design/methodology/approach

A dissection through content analyses using the frustration-aggression and social contract theories was made on the influence of voluntary social reporting and sustainable development on socioeconomic security in Nigeria. An examination and assessment of the implementation of social disclosure by organizations and its effectiveness in promoting sustainable development with insights into the challenges and opportunities in a developing economy like the Nigerian context was done.

Findings

The results showed an increasingly negative trend in social and economic circles brought about by business organizations’ nonmandatory disclosure of social and environmental information. Therefore, it is suggested that governments should have a strong will to implement mandatory reporting to avoid future political catastrophes.

Practical implications

Implications emerged from this study inform policymakers, businesses and other stakeholders on the ways to enhance mandatory social sustainability in Nigeria.

Originality/value

This report is unique in the sense that it considers the interplay between sustainable development and socioeconomic security moderated by voluntary social disclosure as a virgin area in studies that involve developing economies.

Citation

Haladu, A., Bin-Nashwan, S.A. and Idris, L. (2024), "Interplay between sustainable development and socio-economic sanctuary from a developing economy’s voluntary social disclosure", Social Responsibility Journal, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/SRJ-05-2024-0348