Economic hardship: Olu of Warri questions CSR of oil firms in Delta

.Says companies underperforming

From Okwe Obi, Abuja

Worried by the spate of poverty in Delta State, the Olu of Warri, Ogiame Atuwatse III, has questioned the corporate social responsibility of most oil companies in the Niger Delta region.

The monarch wondered why large budgets dedicated to activities and donations have not done enough to assuage the pains of the people.

The Olu of Warri, who spoke recently at the Africa Leadership Summit organized by the Africa Leadership organisation in the United Kingdom, noted that over years most companies see corporate social responsibility as an act of charity and philanthropy rather than a core part of a business strategy.

He said in most civilised clime, so many large corporations have shifted from CSR to Shared Value because they understand that investing in community development benefits them, and must be replicate in Africa.

He said: “Too many of our communities grapple with poverty, lack of access to education, accessible healthcare, environmental pollution amongst many other issues.

“Yet, year after year, companies engage in corporate social responsibility activities across communities. So, why are the large budgets dedicated to activities and donations not doing much to move the needle of our continent’s development?

“For far too long, we’ve done CSR as charity, following a model that treats CSR as an act of philanthropy rather than a core part of business strategy.

“This often leads to one-off, superficial activities that fail to deliver lasting impact.

“If, instead, we craft CSR as an integral part of our business strategies, aligned with our core operations and value proposition, we can create lasting, scalable impact while also strengthening our businesses.”

He called on governments to enabling environment that would encourage and reward socially responsible business practices.

“Government officials, you have a pivotal role to play. Create an enabling environment that encourages and rewards socially responsible business practices.

“Your policies can catalyse the impact we need. And let’s collaborate more, bridging the gap between the public and private sectors to achieve a common good.

“Together, we can realise our vision of an Africa where businesses thrive, governments serve effectively, and communities are empowered.

“Let us all strive to leave a legacy that echoes not just in the wealth we amass but in the lives we touch and the communities we uplift. It is not just possible—it is a duty we owe to future generations.”