This study investigates the environmental consequences of pursuing profits in the oil and gas industry, focusing on Nigeria. It examines the role of top management commitment, safety culture and stakeholder risk prioritisation in the industry. By surveying 441 stakeholders, this study highlights the importance of extensive stakeholder engagement and a systemic supply chain approach in building resilience and shaping sustainable practices. The findings reveal that stakeholder risk perception influences sustainability risk management; however, variations in risk prioritisation between internal and external stakeholders remain a challenge. The study advocates for a paradigm shift and emphasises the crucial role of high-reliability management in guiding organisations towards effective risk mitigation strategies for the industry's immediate health, communities, environment and future.