Exploring power imbalance and stakeholder social responsibility within the Nigerian oil and gas industry

This paper adopts a societal view of stakeholder theory and considers the firm as a stakeholder in the upstream sector of Nigeria’s oil and gas industry. Key themes emerging from 75 interviews with industry stakeholders were ‘historical hangover’ and ‘stakeholder social ir/responsibility’. Historical hangover articulates how historical legacies of the multinational oil companies’ (MNOCs) home countries strengthen the influence of MNOCs in Nigeria; leading to a power imbalance between MNOCs and other stakeholders such as local communities. The power imbalance also arises as a consequence of the developing country context which lacks the regulatory framework present in more developed countries.