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Causality Effect of Energy Consumption and Growth in Nigeria

Authors: KEMISOLA OSUNDINA , Odukale, , & OSUNDINA Olawumi

Publication Type: Journal article

Journal: International Journal Of Recent Research In Commerce Economics And Management

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Abstract

This paper investigates the causality effect of energy consumption and economic growth in Nigeria using annual data from the World Bank Development Indicator and CBN Statistical Bulletin from1980 to 2012.The paper adopts Vector Auto Regressive (VAR) and Error Correction Model (ECM) to test the causality between energy consumption and economic growth in Nigeria. The order of integration of the variables was determined using Augmented Dickey Fuller (ADF) test and the DF-GLS test which was followed by co-integration and causality test. Our findings suggest a positive relationship between energy consumption and economic growth. There is no causality between energy consumption and economic growth in the short run; in the long run we find unidirectional causality running from Economic growth to Energy consumption. There is need for government to diversify the energy mix to include all the untapped potentials of renewable power options such as small hydro, wind, solar and biomass among others in all the states and local constituencies. Energy conservation policy is necessary to adopt if this causality is running from per capita GDP to energy consumption but policy should be designed in a way that energy conservation measures do not adversely affect the economic growth.

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,K. Odukale,,D. OSUNDINA,O. . (2014). Causality Effect of Energy Consumption and Growth in Nigeria, 1 (), 1-1.

,K. Odukale,,D. OSUNDINA,O. . "Causality Effect of Energy Consumption and Growth in Nigeria" 1, no (), (2014): 1-1.

,K. and Odukale,,D. and OSUNDINA,O. and . (2014). Causality Effect of Energy Consumption and Growth in Nigeria, 1 (), pp1-1.

K, Odukale,D, OSUNDINAO, . Causality Effect of Energy Consumption and Growth in Nigeria. 2014, 1 ():1-1.

,KEMISOLA OSUNDINA , Odukale,,D. , and OSUNDINA,Olawumi . "Causality Effect of Energy Consumption and Growth in Nigeria", 1 . (2014) : 1-1.

.KEMISOLA OSUNDINA O.D. & O.Olawumi , "Causality Effect of Energy Consumption and Growth in Nigeria" vol.1, no., pp. 1-1, 2014.

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