Alignment of the Goals of Host Communities and Energy Companies in Nigeria: The Strategic Place of Community Development and Corporate Social Responsibility for Sustainable Stakeholders Participation

Abstract

Abstract The paper started with conceptual analyses of the concepts in the topic with a view of ensuring same understanding of the concepts and the topic among the people involved and the participants. Causes of poor balance with the environment, host communities and other stakeholders in the oil and gas (energy) industry in Nigeria are highlighted. Strategies of aligning the goals of the host communities and the oil and gas companies toward ensuring a better environment/community and future for the industry are underlined. Strategies advocated include community development without disregard for the corporate policies of the oil and gas companies; as well as corporate social responsibility. The advocated strategies are sine qua non for the attainment of sustainable stakeholder participation and management. Behavioral change management is also put forward as a way of cementing stakeholder participation in the oil and gas industry in Nigeria. Above all, a novel model for effective corporate social responsibility is underlined for a win-win situation between the oil and gas companies in Nigeria and other stakeholders. This will lead to development of the host communities for the growth and development of the oil and gas companies directly and indirectly ensures sustainance of a global peace and economic equilibrium which will check the incidence of shock and turbulence in the global price of energy and its derivative products for an equitable world.