FIRM ATTRIBUTES AND SUSTAINABILITY DISCLOSURE OF LISTED NON-FINANCIAL SERVICES COMPANIES IN NIGERIA

Abstract In spite of the strategic importance of corporate sustainability disclosure, Nigerian firms lag due to voluntary frameworks, weak regulation, and low stakeholder pressure. This study examines the relationship between firm attributes and sustainability disclosures among 70 listed non-financial services companies in Nigeria from 2012 to 2023. Firm attributes were proxied as firm size, leverage and profitability. While sustainability disclosure was proxied as environmental, social and governance disclosure. The hypotheses were tested using fixed effect panel regression and findings revealed that firm size positively influences sustainability disclosure, while leverage and profitability have insignificant effects on non-financial service firms in Nigeria. The study recommends that policymakers and regulatory bodies in Nigeria, such as the Securities and Exchange Commission and Financial Reporting Council, should advocate for the introduction of incentives and recognition awards to encourage smaller firms to enhance sustainability disclosure. In particular, a tiered regulatory framework is essential, allowing smaller firms to start with simplified reporting that evolves as they grow. Establishing benchmarks that consider firm size will further support efforts towards enhancing sustainability disclosure.