Corporate Nigeria rose to the task of mitigating the effect of the covid-19 pandemic on the Nigerian economy as 30 of the top companies listed on the country’s exchange donated a sum of N32.4 billion as corporate social responsibility in 2020.
This represents a significant surge compared to N12.1 billion recorded in the immediate reference period (2019). Most of these funds were donated to the CACOVID fund, a private sector-led coalition launched in March 2020 to assist the government in combating the Coronavirus disease in Nigeria.
This is according to data collected and verified by Nairametrics Research from the audited reports of the companies released on the Nigerian Stock Exchange.