Effect of Waste Management Costs on The Financial Performance of Oil and Gas Companies in Nigeria: The Green Accounting Payoff

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@article{1709697,
      author = {Ukpeh, Gabriel Ita},
      title = {Effect of Waste Management Costs on The Financial Performance of Oil and Gas Companies in Nigeria: The Green Accounting Payoff},
      journal = {Iconic Research And Engineering Journals},
      year = {2025},
      volume = {9},
      number = {1},
      pages = {742-753},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1709697.pdf},
      abstract = {This study examined the effect of green waste management costs on the financial performance of oil and gas companies in Nigeria. Given this, the study aimed to determine the effect of waste management costs on the Return on Assets (ROA) of listed oil and gas companies in Nigeria. Ex-post facto research design was adopted, and data for waste management costs and ROA were collected from the financial statements and sustainable reports of nine (9) oil and gas firms listed in the Nigerian Exchange (NGX) Group as of 2024 for ten (10) years (2014-2023). The data collected were analyzed using Distributed Lag Model (DLM) regression to show the short- and long-term effects of waste management costs (WCC) on ROA. The findings showed that waste management costs have a statistically significant short-term positive effect (Coeff. =0.48; t-stat = 2.63; p-value= 0.011) and a long-term negative effect (Coeff. = -0.55; t-stat = -2.46; p-value=0.018) on ROA of oil and gas firms. In conclusion, waste management costs have a significant effect on the financial performance of oil and gas companies in Nigeria, with a positive significant effect in the short run and a negative significant effect in the long run. Recommendations include that oil and gas companies in Nigeria should invest more in sustainable waste management practices, and that the government can support this through the provision of incentives and a novel waste management framework in the industry.},
      keywords = {Green Accounting, Waste Management Cost, Return on Assets (ROA)},
      month = {July},
  }