"4.10 ANALYSIS OF CSR DIMENSIONSMost CSR definitions are included into the dimensions to the concept which includeseconomic, environmental and social (Olanrewaju, 2012). But Musa et al. (2013) emphasizesthat the concepts of CSR is based on four measurements like economic, environment, socialand ethical, and are focused on the stakeholders.Table 1 Analysis of CSR dimensions(Author?s own work)The researcher after examining the CSR practices and initiatives of the oil and gas industry inNigeria, proposes it falls into numbers 1, 3 and 5 of the above classification. 4.11 BUSINESS ADDRESSING SOCIAL PROBLEMSSociety have been suffering from one problem to another, such as change in climate, lack ofskills, food, water supply, pollution and health care etc.The question is why are we havingsuch problems in the society and what is the role of business, if there is. To answer thisquestion, we have to ponder on both the problems and the solutions to these social problems.Business is seen by many as the problem or one of the problems amongst the social problemsfaced in the society, not the solution. This view is justified due to the wrong things done bysome bad actors. Solutions to these issues faced in the society have been seen in terms ofphilanthropy, NGOs and government (Porter, 2013).The fundamental problem in dealing with these issues is the problem of scale. There areresults, benefits and progress but cannot be scaled. There are no large scale impacts on theseproblems as a result of lack of resources due to insufficient philanthropic donations, moneyand tax revenue to handle the problems the way its dealt with presently. Hence, confrontingthe scarcity of resources that is growing and the reality. All the resources needed to addresssocial problems are in business, business creates all wealth, it creates wealth when needs aremet at a profit. All taxes, incomes, charitable donations and resources are derived when needsare met at a profit (Porter,2013).Resources can only be created by business. Profit allows whatever solution created to bescalable infinitely. When profit is made the solution becomes self-sustaining. This profitshould be redeployed into social problems, more should be given by business and moreresponsibly.Business is viewed by the conventional wisdom as one that generates profit by causing socialissues. For instance, the more business pollutes, the more money it makes than when itreduces pollution. It views that reducing pollution and keeping safe environment is expensiveand so business does not want that. But Porter (2013) posits that business profits from solving social issues rather than causing them. Therefore, reducing pollutions makes the businessmore effective and efficient, and also working in a safe environment makes it moreprofitable. Navarro (1988) agrees that giving charitably increases profit. He further saidcharitable giving is a form of awareness expense and „quasi-fringe benefit? for employees. In contrast, Friedman (1970) posits that there is one and only one social responsibility ofbusiness- to utilize its resources and engaging in activities designed to maximize its profits aslong as it remains in the game rules that is participating in free and open competition withoutfraud. He further argues that managers as agents owe the corporation by spending its moneyto pursue its interest or the way they want. Friedman sees engaging in CSR activities bycorporate manager as unethical and violation of his duty to act in the principal?s interest.Therefore, he believes that a principal can decide to support a social cause as a result ofpersonal values and commitments rather than to help the profit objectives of the business.Friedman concluded his critique by saying profit maximization should be the only thing abusiness should seek for in the bounds of ethical custom and the law, hence mooting agent?scompensation.Although, the Friedman approach is an old source but it is the original critique of the CSRthat remains one of the most significant in the CSR literature and is still followed by manyorganisations.4.12 CSR IN THE OIL AND GAS INDUSTRYThe high reliance on oil- inclusive to essentially fuel the worldwide economy is expanding.Factors such as population growth with unstable economic crisis have all contributed to theglobal dependence on oil as the major source of fuelling the economy particularly seen indeveloped and developing countries (OPEC, 2016). As a result of the further reduction of oil developed countries has led oil and drillingcompanies to extend its operations to more delicate geographic areas where untappedresources are acquired from places. In order to reduce the effects of their activities, a holisticapproach and more comprehensive policy(s) are adopted to address the entire lifestyle of theresources being used, it therefore generates significant revenue and high importance of oil(Porter and Kramer, 2006; Hilson, 2012).It is therefore imperative that oil and gas companies completely actualise and participate inCSR as it plays a vital role in satisfying their inner and outer commitments.4.13 CSR IN THE NIGERIAN OIL AND GAS INDUSTRYThe oil and gas industry in Nigeria is on record the pioneer practitioners of CSR initiatives inNigeria (Ite, 2004). The oil and gas industry private division is controlled by foreign oilcorporations that have great understanding of CSR which remote oil companies, the hostgroup and the government are key stakeholders.Abubakri et al. (2014) cited that oil and gas companies such as Chevron, Shell, Exxon Mobil,Total, Agip etc. are interested in CSR and they have supported in the economy growth ofNigeria and the host communities in which they operate. According to Ite (2004) and Ameachi et al., (2006) the Nigerian oil and gas industry has anunderstanding of the practice and theory towards CSR, asserts environmental responsibilityand friendly and further recognises the mutuality of the benefits, in the case of business forCSR, it commends that it is a “win-win” position for organisation and their stakeholders.Frynas (2009) and other academics argued that the CSR process in Nigeria is not deeplyembedded or far reaching. Arguably, irrespective of the adoption of various CSR projects byoil companies in Nigeria, the oil-rich communities “have received a proportionally lowamount of benefit compared to the high social and environmental costs of extractive "