Energy consumption and economic growths in Nigeria: a vector error correction model

Energy consumption and economic growths in Nigeria: a vector error correction model

Author by Dr. Esther Lawal

Journal/Publisher: West African Journal Of Business And Management Sciences

Volume/Edition: 10

Language: English

Pages: 28 - 36

Abstract

The study examined the relationship between energy consumption on economic growth in Nigeria, using the Vector Error Correction Model (VECM). Annual time series data were gathered from the World Bank and the Central Bank of Nigeria from 1980-2018. The result showed that there is a positive relationship between energy consumption and economic growth. There is need for policies the improve power conditions in Nigeria. Energy conservation policies should be put in place in such a way that the growth ambition of the country will not be compromised.


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