ASSESSMENT OF INDIGENOUS COMPANIES AND PUBLIC INSTITUTIONS IN LIVING OUT CORPORATE SOCIAL RESPONSIBILITIES IN EDUCATIONAL DEVELOPMENT IN SECONDARY SCHOOLS IN NNEWI NORTH LOCAL GVERNMENT AREA

Abstract

This paper examined the need for a more coherent and binding recognition of the corporate social responsibility principle in Nigeria. In a country such as Nigeria, where the principles and benefits of democratic governance are still fragile coupled with high poverty rate among the citizenry and devastating effect of corona virus, there is a need for a dynamic and step-wise approach through which the corporate social responsibility concept could be continually mainstreamed into national laws and policies.  The paper is focused on Nnewi North Local Government Area of Nigeria, though without any oil reserve as in Niger Delta which is major source of revenue for the country but highly rich in creativity and entrepreneurship with numerous industries and factories. It is often referred to as Japan of Africa due to ingenuity of individuals located there. The simple survey done in 46 public primary schools and eight public secondary schools on the activities and undertaking of indigenous company and public institutions on the corporate social responsibility as affect educational development and its improvement shows a total and complete lack of presence of these companies and public institutions. Therefore, the paper encourages these captains of industries and companies to imbibe and adopt the CSR policies and regulations in various companies and industries in order that both society and environment will benefit thereby, uplift the already battered and disillusioned society and instill hope and support through empowerment in educational development and improvement as seen in other parts of the world. The paper also urges governments to do more in educational development and improvement to be concerned with numerous children dropping out both in primary and secondary schools due to poverty and lack of funds which has dashed out their hope, dreams and desires, coupled with drive to eradicate illiteracy in the land and live out their vision 2030, which is eradication of illiteracy in the land. Secondly, the national and state legislators should pass a resolution on tax deduction for companies and public institutions, which will go a long way in achieving the realization of CSR principles and purpose.  Thirdly, the enactment of laws should be in form of policies, persuasion, appealing to their good consciences. Hence, the success and ratings of best companies and public institutions should not be based on the profit they make yearly and its promptness in meeting up of the demand of government but the impact and ability of giving back to the society.