Abstract
No proper organization can function independent of its environment. Each is made up of an internal structure, and exists within
a framework of interrelated system of relationships with key stakeholders such as competitors, donors, consumers, regulators,
the media, and so on. Therefore, there is the need to depart from the traditional approach of influencing public opinion to a
more modern and strategic approach of guarding public moods, disposition and judgement before even attempting to satisfy
expectations. The objective of this study was to ascertain whether Stakeholder Relations Management can be used as a Public
Relations tool for socio-economic development in Nigeria. The aim was to establish the veracity of the statement that
stakeholder relations management is a public relations tool and if it could be used for socio-economic development of Nigeria.
Data was collected from available literature on stakeholder relations management and public relations. Also the professional
observations of the authors were also used. Good stakeholder relationship management which is one of the tools of modern
public relations that foster a sense of joint ownership, prevents undue bureaucracy or industrial disputes, makes resources
available, keeps information/knowledge and feedback flowing and enhances cooperation to achieve the desired outcome of
socio-economic development. The study proposed that organizations have to evaluate the possibility of adapting and/or
integrating the benefit of the emerging stakeholder management trends into their institutional framework. The management of
organizations must realize that for their organizations to be competitive in the global economy, they have to leverage on these
collaborative relationships with both internal and external systems in their networks to achieve results.