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ENERGY CONSUMPTION AND NIGERIAN ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS

Authors: ONAKOYA Adegbemi , Adegbemi Onakoya, Olalekan Jimi-salami, Babatunde Omoniyi Odedairo

Publication Type: Journal article

Journal: European Scientific Journal

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Abstract

The study evaluates the causal nexus between energy consumption and Nigeria's economic growth for the period of 1975 to 2010. Secondary time-series data were analyzed using cointegration and ordinary least square techniques. Co-integration results show a long run relationship among the variables. The result shows that in the long run, total energy consumption had a similar movement with economic growth except for coal consumption. The empirical results reveal that petroleum, electricity and the aggregate energy consumption have significant and positive relationship with economic growth in Nigeria. However, gas consumption although positive, does not significantly affect economic growth. The impact of coal was negative but significant; therefore this is just the time to increase the use this resource to the nation's benefit. Therefore, the study recommends that government should encourage a level- playing field for all energy forms available in the country by diversifying its power-generation portfolio. Also, the government should continue to collaborate with the private sector within the context of publicprivate- partnership (PPP) to further exploit the opportunities in the sector in order to increase economic growth.

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ONAKOYA,A. Adegbemi,O.O Olalekan,A.J Babatunde,O.O . (0000). ENERGY CONSUMPTION AND NIGERIAN ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS, 9 (), 25-25.

ONAKOYA,A. Adegbemi,O.O Olalekan,A.J Babatunde,O.O . "ENERGY CONSUMPTION AND NIGERIAN ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS" 9, no (), (0000): 25-25.

ONAKOYA,A. and Adegbemi,O.O and Olalekan,A.J and Babatunde,O.O and . (0000). ENERGY CONSUMPTION AND NIGERIAN ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS, 9 (), pp25-25.

ONAKOYAA, AdegbemiOO, OlalekanAJ, BabatundeOO, . ENERGY CONSUMPTION AND NIGERIAN ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS. 0000, 9 ():25-25.

ONAKOYA,Adegbemi , Adegbemi,Olatunde Onakoya, Olalekan,Adejuwon Jimi-salami, and Babatunde,Omoniyi Odedairo . "ENERGY CONSUMPTION AND NIGERIAN ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS", 9 . (0000) : 25-25.

O.Adegbemi A.Olatunde Onakoya O.Adejuwon Jimi-salami & B.Omoniyi Odedairo , "ENERGY CONSUMPTION AND NIGERIAN ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS" vol.9, no., pp. 25-25, 0000.

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