THE DEGREE OF INTEGRATED REPORTING IMPLEMENTATION IN NIGERIAN LISTED FIRMS: DOES A FIRM'S SECTOR MATTER

Abstract

Transitioning from traditional financial reporting to Integrated Reporting (IR) is vital for transparency, yet adoption levels remain inconsistent in emerging economies. This study investigated the extent of Integrated Reporting (IR) adoption across industrial sectors in Nigeria and evaluated the influence of industry classification on reporting quality.Using a purposive sample of 126 listed firms on the Nigerian Exchange Group from 2010 to 2022, the study employed content analysis of annual reports and secondary financial data. Differences across sectors were tested using Analysis of Variance (ANOVA). Findings indicate an average disclosure index of approximately 50%, suggesting that Nigerian corporate entities are only halfway toward full implementation of the framework. While traditional elements like Governance and Business Performance are well-reported, there is a critical deficiency in reporting forward-looking elements such as Business Model, Risks and Opportunities, and Outlook. Furthermore, ANOVA results reveal significant differences in IR disclosure levels across industries (p < 0.001).  Current IR practices remain partially embedded in conventional structures and are insufficient to reduce information asymmetry, given the limited disclosure of strategic, future-oriented data. Regulatory bodies, including the Financial Reporting Council of Nigeria, should mandate standardized sectoral guidelines to enhance reporting quality.