Evaluating the Perceived Economic, Social, and Environmental Impacts of Key Legislative Policies on Nigerian Industries

ABSTRACT: This study examines the impact of key laws on the economy, society, and environment of industries in Nigeria. Researchers sought to understand how government policies influence sustainable practices in a rapidly growing economy. They employed a descriptive survey method to collect data from 385 participants across various industrial sectors. To analyse the information, they applied frequency distribution and percentage analysis. The results show that legislative policies have had mixed effects: economically, they boosted profits (33.8%) and created investment chances (23.4%), but some industries faced higher operational costs (16.9%); socially, these policies helped secure jobs (26.0%) and improved worker welfare (20.8%), yet fairness issues still existed; environmentally, there were advancements in reducing pollution (29.9%) and managing waste (23.4%), although smaller businesses struggled with compliance costs. The study concludes that while these laws help promote sustainability in industries, their effects are uneven due to weaknesses in institutions and the burdens of compliance. It suggests enhancing institutional capacity, offering specific incentives, and ensuring all stakeholders are involved in creating and implementing policies. This research adds to our understanding by providing solid evidence on the various impacts of legislative policies in Nigeria and suggesting a framework that considers both institutional roles and stakeholder views. Future research could focus on long-term studies and analyses specific to different sectors to understand policy outcomes over time better.