CORPORATE SOCIAL RESPONSIBILITY: A STRATEGIC ROLE FOR THE CORPORATE SECTOR IN ALLEVIATING ECONOMIC INEQUALITY IN NIGERIA
There is growing inequality in many countries around the world. Recognizing this global challenge, the United Nations, as part of its sustainable development agenda, commits to eradicating all forms of inequalities globally. Thus, the United Nations in 2015 agreed to a set of sustainable development goals including the reduction of inequalities among and within countries. To enable effective implementation, the United Nations calls for a global partnership, involving the public and private sector, in the achievement of the goals.
Against this background, this study examines the role of the private sector in the alleviation of economic inequality in Nigeria. Adopting a desk-based research methodology, the study highlights the notable causes of economic inequality in Nigeria. Laying emphasis on one of these causes, that is, poor social spending by the government, the study examines how the Nigerian corporate sector through corporate social responsibility can intervene in addressing this thereby, contributing to the alleviation of economic inequality in the country.
Hence, the study posits that the implementation of various corporate social responsibility regimes constitutes a role for the corporate sector in the alleviation of economic inequality in Nigeria. The study further identifies how the corporate sector can implement corporate social responsibility, as well as the factors that can drive or motivate the corporate sector to implement corporate social responsibility in Nigeria.
KEYWORDS: economic inequality, corporate social responsibility, corporate governance, strategic management, Nigeria.
