Value Management and Performance in Selected Oil and Gas Companies in South-South, Nigeria

Abstract

Every day, employees at all organization levels in the oil and gas industry in Nigeria make decisions that affect their company’s values-yet the link between these decisions and change in company value is often not made. This prompted the study to ascertain the extent of relationship that exists between Value Management and performance of these oil companies. The study specifically seeks to identify the extent to which business value contributions relate to social responsiveness of these selected oil and gas companies in South-South Nigeria. The research question and hypothesis were formulated in line with the specific objective. Survey research design was utilized for the study. Analysis of variance and simple regression analysis were used for hypothesis testing. The finding shows that there is a significant positive relationship between business value contribution and social responsiveness of these oil companies. The study identified Value Management as a critical factor in maintaining harmony in the host environment. The study recommended that the management of these oil companies should train staff on the current use of VM tools to ensure optimal performance in social responsiveness to their host communities.