SUSTAINABILITY AUDITING IN A GLOBALIZED BUSINESS ENVIRONMENT: CHALLENGES AND OPPORTUNITIES IN NIGERIA

Sustainability auditing has emerged as a vital mechanism for promoting transparency, accountability, and improved Environmental, Social, and Governance (ESG) outcomes within the global business landscape. This paper critically examines the challenges and opportunities associated with implementing sustainability auditing frameworks in Nigeria’s corporate environment. Using an exploratory research design, relevant literatures were systematically reviewed to assess the current state of sustainability auditing adoption in Nigeria. The findings reveal several constraints, including a shortage of local expertise, gaps in regulatory and institutional frameworks, poor data quality and collection mechanisms, limited awareness, and the prevalence of short-term profit-oriented business strategies. Despite these challenges, the study identifies significant opportunities for sustainability auditing to drive responsible business conduct, improve investor confidence, and stimulate inclusive economic growth. The paper suggests that, for sustainability auditing to realize its transformative potential in Nigeria, businesses must integrate it into their strategic decision-making processes, while government and regulatory bodies must play a proactive role in facilitating the development of relevant infrastructure and policy support. This dual approach can help position Nigerian enterprises to compete effectively in a globalized economy and attract sustainable investment.