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Renewable Energy Consumption and Economic Growth in Nigeria

2023
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Release : 2023
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Book Synopsis Renewable Energy Consumption and Economic Growth in Nigeria by : George Umeji

Download or read book Renewable Energy Consumption and Economic Growth in Nigeria written by George Umeji. This book was released on 2023. Available in PDF, EPUB and Kindle. Book excerpt: The impact of renewable energy consumption on economic growth in Nigeria, is aimed at establishing the relationship between renewable energy consumption and economic growth in Nigeria. The oil price volatility in the international oil market in the last decade has led to a substantial rise in the demand for renewable energy sources. Nevertheless, the provision of energy needed for growth and at the same time mitigating against its hazardous effects on the environment is a major world problem. The paper used secondary data from the World Bank data bank from 1990 to 2020 for its analysis. It used Toda-Yamamoto augmented granger causality test to test for the nature of the relationship between the two variables and Auto Regressive Distributive Lag (ARDL) bounds test to examine the impact of renewable energy consumption on economic growth. The study found a bi-directional relationship between the variables. The regression results also showed a significant positive impact of renewable energy consumption on economic growth. The work concluded that renewable energy consumption enhances economic growth in Nigeria. It therefore, recommends that government should encourage investments in the renewable energy sector by providing conducive business environment and also create awareness on the importance of the use of renewable energy in the country.

Analysis on the Impact of Energy Consumption and Green Growth in Nigeria

2023
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Release : 2023
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Book Synopsis Analysis on the Impact of Energy Consumption and Green Growth in Nigeria by : Basiru Haliru

Download or read book Analysis on the Impact of Energy Consumption and Green Growth in Nigeria written by Basiru Haliru. This book was released on 2023. Available in PDF, EPUB and Kindle. Book excerpt: Access to clean and modern energy constitutes a colossal challenge confronting not only Nigeria but also Africa as a whole. This is due to the fact that energy is an indispensable requirement for the socio-economic development of any nation. The primary aim of this research is to evaluate the impact of energy consumption on green growth in Nigeria, with a focus on renewable energy. To achieve this objective, time series data spanning over four decades (1980-2021) were collected from both domestic and foreign reputable organizations, including the World Bank's World Development Indicators (WDI), the International Energy Administration portal, and the National Bureau of Statistics (NBS) through its annual statistical bulletin. The study adopted the Autoregressive Distributed Lag Model (ARDL) to investigate the influence of energy consumption and selected variables such as Foreign Direct Investment (FDI), Openness (OPN), and Carbon Tax (C02 tax) on Green Growth in Nigeria. The findings from this research revealed that green growth has a statistically significant positive relationship with its first lag and current value at a 1% level of significance. Furthermore, it was discovered that there is a positive and statistically significant relationship between electricity (energy) consumption and green growth in Nigeria. However, the results indicated a negative and statistically insignificant relationship between foreign direct investment and green growth. Based on these results, it is highly recommended that the Nigerian government pays more attention to the development of renewable energy sources. This variable is crucial in determining green growth and is essential for the progress of the modern economy. Thus, the government must shift its focus from carbon emissions caused by energy production to more modern green energies that foster economic growth. Additionally, the research demonstrated that the more electricity is consumed, the greater the demand for it, necessitating the government to ensure the stability of electricity supply. This may be the result of the entry of new industries, plants, and other related activities.

Pollutant Emissions, Energy Consumption and Economic Growth in Nigeria

2015
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Release : 2015
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Book Synopsis Pollutant Emissions, Energy Consumption and Economic Growth in Nigeria by : Philip O. Alege

Download or read book Pollutant Emissions, Energy Consumption and Economic Growth in Nigeria written by Philip O. Alege. This book was released on 2015. Available in PDF, EPUB and Kindle. Book excerpt: The study investigates the direction of causal relationships among emissions, energy consumption and economic growth in Nigeria using annual time series data for the period 1970-2013. The Johansen maximum likelihood cointegration tests indicate an existence of a unique cointegrating vector, and the normalized long run estimates shows that fossil fuel enhances carbon emissions whereas, clean energy source (electricity) mitigate the atmospheric concentration of CO2 emissions. Similarly, the Wald exogeneity Granger causality test indicates an existence of unidirectional causation running from fossil fuel to CO2 emissions and GDP per capita. Alternatively, non-fossil energy (electric power) causes more proportionate change in GDP per capita but our result could not establish any causal link between electric power and carbon emissions. Finally, charting a channel towards ensuring sustainable environment and economic development involves a progressive substitutability of clean energy sources for fossil consumption.

Environmental Kuznets Curve (EKC)

2019-05-13 Business & Economics
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Release : 2019-05-13
Genre : Business & Economics
Kind : eBook
Book Rating : 963/5 ( reviews)

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Book Synopsis Environmental Kuznets Curve (EKC) by : Burcu Özcan

Download or read book Environmental Kuznets Curve (EKC) written by Burcu Özcan. This book was released on 2019-05-13. Available in PDF, EPUB and Kindle. Book excerpt: Environmental Kuznets Curve (EKC): A Manual provides a comprehensive summary of the EKC, summarizing work on this economic tool that can analyze environmental pollution problems. By enabling users to reconcile environmental and economic development policies, Environmental Kuznets Curve studies lend themselves to the investigation of the energy-growth and finance-energy nexus. The book obviates a dependence on outmoded tools, such as carrying capacity, externalities, ecosystem valuation and cost benefit analysis, while also encouraging flexible approaches to a variety of challenges. - Provides a comprehensive summary of EKC studies, including advances in econometrics, literature reviews and historical perspectives - Outlines solutions to common problems in applying EKC techniques by reviewing major case studies - Explores frequently-utilized proxies for environmental quality

Handbook of Research on Energy and Environmental Finance 4.0

2022-02-18 Business & Economics
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Release : 2022-02-18
Genre : Business & Economics
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Book Rating : 11X/5 ( reviews)

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Book Synopsis Handbook of Research on Energy and Environmental Finance 4.0 by : Rafay, Abdul

Download or read book Handbook of Research on Energy and Environmental Finance 4.0 written by Rafay, Abdul. This book was released on 2022-02-18. Available in PDF, EPUB and Kindle. Book excerpt: Energy and environmental finance (EEF) is an emerging global phenomenon. During the last few decades, many countries started monitoring EEF practices. Major components of these practices include costs, fraud, scandals, and more. Among several problems, the most prevalent is the lack of awareness about the issues of EEF among various stakeholders. The Handbook of Research on Energy and Environmental Finance 4.0 is an international reference that provides understanding and lessons learned in all aspects of EEF in individual, organizational, and societal experiences. This book examines research in the shape of experience, implementation, and application. Covering topics such as clean power, energy poverty, and environmental degradation, this book is a dynamic resource for academicians, researchers, professionals who work within the domains of EEF, EEF regulators, scholars of EEF, managers involved in EEF organizations, law practitioners involved in EEF regulations, auditors involved in audit and control systems of EEF, university professors, and students pursuing studies and research in EEF.

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