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FRC Nigeria · IFRS S1 & S2

Is your company ready for IFRS S1 and S2 by 2028?

Nigeria's Financial Reporting Council roadmap brings sustainability and climate reporting to public interest entities from 2028. Find your gaps today — free, in about 10 minutes.

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The FRC Nigeria adoption timeline

Now – 2027

Voluntary early adoption

Companies can adopt IFRS S1 and S2 early. Use this window to build data, controls and board oversight.

Periods from 1 Jan 2028

Public interest entities

FRC Nigeria's roadmap expects public interest entities, including listed companies, to report under IFRS S1 and S2.

Periods from 2030

SMEs

The roadmap extends adoption to small and medium-sized entities — and large customers will already ask suppliers for data before then.

Dates follow FRC Nigeria's published roadmap. Confirm how it applies to your company with your auditor or adviser.

What the standards ask for

IFRS S1 — general sustainability disclosures

  • • Board and management oversight of sustainability risks
  • • Strategy, business model and value-chain effects
  • • Risk identification and management processes
  • • Metrics, targets and connected financial information

IFRS S2 — climate-related disclosures

  • • Physical risks: flooding, coastal erosion, heat and drought
  • • Transition risks: fuel subsidy removal, grid tariffs, CBAM
  • • Scope 1, 2 and 3 greenhouse gas emissions
  • • Climate scenario analysis and resilience

Late preparation risks delayed audit sign-off, harder access to bank credit and export tenders, and questions from regulators and investors.

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Answer 30 ESG questions covering IFRS and other standards. Scores and reports unlock after activation.

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Download a board- and bank-ready IFRS S1/S2 dossier with draft notes, evidence list and deadline tracker.

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Common questions

Is IFRS S1/S2 mandatory in Nigeria?

FRC Nigeria has published an adoption roadmap: public interest entities from reporting periods starting 1 January 2028, and SMEs from 2030. Check your exact position with your adviser.

What does the free gap assessment cover?

Governance, strategy, risk management and metrics questions linked to each IFRS S1 and S2 clause, plus a climate risk register with Nigerian scenarios.

Is the score a certification?

No. Scores are a self-assessment guide. They are not certification, legal verification or independent assurance.

Scores are a self-assessment based on answers your organisation provides. They are not a certification, a legal compliance verification or an independently assured ESG rating.