Board Attributes and Environmental Accounting Disclosure: Evidence from Quoted Oil and Gas Firms in Nigeria

This study investigates the influence of board attributes on environmental accounting disclosure (EAD) among quoted oil and gas firms in Nigeria. Motivated by growing concerns over environmental transparency and corporate sustainability, the study examines how board size, board independence, board meetings, gender diversity, and firm size impact the extent of EAD. Relying on panel data from eight oil and gas firms listed on the Nigerian Exchange Group between 2019 and 2023, the study employs a panel regression model to analyze the data. The findings reveal a significant negative relationship between board size and EAD, suggesting that larger boards may hinder effective environmental disclosure. In contrast, board independence and firm size show significant positive associations with EAD, highlighting their roles in promoting transparency and sustainability. While board meeting frequency demonstrates a marginally negative effect, gender diversity appears to have no statistically significant impact on EAD. The results underscore the importance of board composition in shaping corporate disclosure practices and align with theoretical perspectives from agency and stakeholder theories. The study provides practical implications for policymakers and regulators by emphasizing the need for strengthened governance structures, particularly around board independence and optimal board size. It also advocates for reforms aimed at mandating environmental reporting standards to enhance sustainability practices across Nigeria’s oil and gas sector. These insights contribute to the broader discourse on corporate governance and environmental responsibility in emerging markets.