Dangote Cement, Entry, Zenith leads Nigerian firms with highest CSR donations in 2024

Dangote Cement, Entry Company, and Zenith Bank led the record of Nigerian firms with the very best CSR donations in 2024, and companies intensified their help for sustainable growth and societal well-being by donations and growth initiatives.

In keeping with the evaluation of the highest 50 firms listed on the Nigerian Change, they incurred a mixed sum of N46.5 billion within the 2024 monetary yr, nearly double the N23.4 billion recorded within the earlier yr.

Notably, the yr 2024 witnessed exceptional CSR contributions from main Nigerian companies, reflecting a transformative shift in the direction of impactful group engagement. A transfer which works past returning revenue but in addition helps the group the place they make their cash.

Whereas firms differ of their CSR methods, most efforts are channeled towards urgent social wants comparable to training, healthcare, environmental sustainability, safety, financial empowerment, and humanitarian aid.

Additional evaluation reveals that many of the listed firms elevated their CSR spending in 2024 in comparison with the earlier yr. In the meantime, a number of the firms didn’t commit any funds in the direction of CSR, largely as a consequence of an unfavourable enterprise atmosphere. The likes of MTN and Nigerian Breweries, which declared losses for the monetary yr, didn’t spend on CSR within the evaluation yr.

Under is an inventory of the highest firms in Nigeria, with the very best CSR spend in 2024.

UBA – N1.98 billion

Rating fifth on the record, United Bank for Africa (UBA) recorded a complete donation of N1.98 billion in 2024, representing a 225% enhance from the N608 million spent within the earlier yr.

UBA’s donations are primarily administered by the UBA Foundation, the Group’s Company Social Duty (CSR) arm, which focuses on initiatives in training, atmosphere, financial empowerment, and social growth.
Amongst its flagship programmes is the annual Nationwide Essay Competitors (NEC), designed to advertise a studying tradition and foster mental engagement amongst senior secondary faculty college students in Nigeria and throughout Africa.
Winners of the competitors obtain substantial academic grants, with the general winner awarded N7.5 million, and the primary and second runners-up receiving N5 million and N3.5 million, respectively, to pursue college training at any establishment inside Africa.

Transcorp – N2.56 billion

Transnational Company Plc reported a complete company social accountability (CSR) expenditure of N2.56 billion in 2024, representing a 104% enhance in comparison with the N1.25 billion spent within the earlier yr.

Of this quantity, N23 million was disbursed as direct donations, whereas the remaining was channelled towards numerous CSR initiatives, primarily executed by the corporate’s subsidiaries.
A breakdown of the donations reveals N11.16 million was allotted to Daughters of Charity for meals provide, N2.73 million for the procurement of stitching machines and equipment for Ace Charity, and N1.5 million to help the School for the Blind.
Moreover, the corporate donated N2.1 million to Authorities Senior Faculty, Maroko, N5 million to the Lagos Enterprise School Alumni Affiliation, and N520,000 for gadgets donated to the Kuchingoro Outdated Individuals’s Dwelling.

Zenith Bank – N4.93 billion

Zenith Bank ranked because the third-highest CSR spender amongst Nigerian firms within the 2024 monetary yr, with a complete expenditure of N4.93 billion. This represents a 14.6% decline from the N5.77 billion recorded within the earlier yr, leading to a drop from its earlier prime place.

Regardless of sustaining its standing as Nigeria’s most worthwhile firm, posting a post-tax revenue of N1.03 trillion in 2024, the bank recorded a year-on-year discount in CSR spending.
In keeping with disclosures from the bank, over half of its 2024 CSR expenditure (N2.55 billion) was allotted to infrastructure and safety belief funds managed by state governments. Different key allocations included N951 million for conferences and seminars, N276 million for sports activities growth, and N259 million for academic establishments.
Further donations included N164 million to charitable organizations, N83 million to skilled associations, N58 million to spiritual our bodies, N53 million for health-related initiatives, and N358 million below miscellaneous classes.

Entry Holdings – N6.74 billion

Entry Holdings Plc, Nigeria’s largest monetary establishment by asset base, recorded a complete of N6.74 billion in spending on occasions, charitable actions, and sponsorships in 2024—greater than double the N2.65 billion spent within the earlier yr.

In keeping with its 2024 monetary disclosures, the corporate undertook 114 distinct sponsorships and donations throughout the evaluation interval. Notably, N3.49 billion was dedicated to sponsoring the Fifth Chukker Polo Match held in each Kaduna and the UK, whereas N1 billion was donated to the Borno State Authorities in help of flood victims.
Additional breakdown of the expenditure highlights focused donations in the direction of training, public safety, girls’s entrepreneurship, healthcare, know-how development, and youth transition programmes, reflecting Entry Holdings’ broad dedication to socio-economic growth throughout Nigeria.

Dangote Cement – N13.19 billion

Cement producing large, Dangote Cement, recorded a major enhance in its company social accountability (CSR) expenditure in 2024, spending a complete of N13.19 billion—over 4 occasions the N2.36 billion spent within the earlier yr. This positioned the corporate as the very best CSR contributor within the nation for the yr.

In keeping with its audited monetary statements, N12.4 billion of the overall CSR expenditure was allotted to sponsorships and charitable donations, with a considerable portion channeled by the Aliko Dangote Foundation.
The Aliko Dangote Foundation, a non-public philanthropic group established by Aliko Dangote, focuses on key areas comparable to well being, training, financial empowerment, and humanitarian support.
Its notable initiatives embody the Nationwide Meals Reduction Programme focused at offering meals provides to weak communities throughout Nigeria—the donation of patrol automobiles to regulation enforcement businesses, and the development and donation of academic infrastructure to colleges.

Backside line

The sharp rise in CSR spending by prime companies displays a rising dedication to inclusive development, social fairness, and nation-building.
Past boosting their model picture, these firms are actively investing within the communities that help their operations, fostering belief, resilience, and long-term shared worth.
As CSR turns into a extra strategic part of company governance and stakeholder engagement, the expectation is that extra Nigerian companies will embrace significant and impact-driven interventions that not solely handle societal gaps but in addition contribute to sustainable nationwide growth.