The effects of legislation on corporate social responsibility in the minerals and mines sector of Nigeria
This paper examines the effect of legislation on the corporate social responsibility in the minerals and mines sector of the Nigerian economy. Observing that the extractive industry sector in the country is populated by enclave industries that give little priority to CSR, the paper analyses the Nigerian Minerals and Mines Act, 2007. The Act obligates contracting a Community Development Agreement (CDA) between the mineral title holder and the community where the mining company is to operate. Linking CSR and the CDA through the stakeholder theory, the paper observes that corporate actors in the solid minerals sector of the country can no longer deprioritise CSR in their corporate planning as hitherto. It concludes that the effect of this law is to empower the community as an important stakeholder thereby validating the stakeholder thesis herein espoused.
Keywords: Corporate social responsibility (CSR), minerals, mines, agreement, human rights