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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.
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.
In this book, a number of long-term energy scenarios are developed for Nigeria considering the impact of vital factors that may influence energy policies in the country’s future energy system. The energy scenarios were developed through the Long-Range Energy Alternatives Planning System (LEAP) model. The model identified the future energy demand and supply pattern using a least-cost combination of technology options while limiting the emission of greenhouse gases. The book presents four scenarios, and key parameters considered include GDP, households, population, urbanization and the growth rates of energy-intensive sectors. Further, it highlights the findings of the cost-benefit analysis, which reveal the costs of implementing selected policies and strategies in Nigeria, including those focusing on energy efficiency and fuel/technology switching. The book also discusses the application of the LEAP-OSeMOSYS Model in order to identify lowest-cost power plants for electricity generation. Some sustainable strategies that can ensure a low carbon development in Nigeria are also explored on the basis of successful country cases in relation to the Nigerian LEAP model. As such, the book will help policy makers devise energy and sustainable strategies to achieve low carbon development in Nigeria.
China's prospects of successfully completing the transition to a market economy and becoming the world's largest economy during the 21st Century depend on the future sustainability of high rates of economic growth. This book is a comprehensive, balanced and realistic assessment of China's financial reform program and future direction. Covering not only the banking sector but also non-bank financial institutions, stock market development and external financial liberalization, the authors examine the impact of financial reform on economic development in China during the reform period. This volume will facilitate a more accurate assessment of the Chinese approach to financial reform, and will therefore allow more informed future policy choices for both China and other developing and transitional countries.
Energy intensity and energy-GDP both measure efficiency in the energy usage of an economy but most studies, as discussed in the literature, concentrated on the effect of energy consumption on economic growth in Nigeria. The need to measure the efficiency of energy consumption in Nigeria cannot be overemphasized. This study employed secondary data on energy consumption and economic growth in Nigeria sourced from International Energy Agency (IEA) and Central Bank of Nigeria's statistical bulletin. It adopted a descriptive analysis using trends and chats, and the results show that energy efficiency in Nigeria has been on the decrease within the understudy period. It was also found that the major proportion of energy consumed in Nigeria goes to the household. By implication, most energy consumed is not on productive purposes and this does not propel economic growth. The study recommends that while appreciating the importance of industrial activities on economic growth, policies that boost industrial activities such as those made towards ensuring credit availability, friendly industrial climate and protection of domestic industries should be formulated and implemented; policies on import substitution and tax relief stimulates industrial activities and increases the demand for energy for productive activities, while feedback industrial policies should be encouraged by promoting the agricultural sector performances with the aim of creating a backward-linkage between this sector and Nigeria's industrial sector.
This report looks at the role of the energy sector in moving towards a green growth model and the policies to facilitate the transition.
This book gathers cutting-edge studies on the relationship between energy innovations, economic growth, environmental regulation, promotion of renewable energy use, and climate change. Building on the research discussed in the editor’s previous book Decarbonization and Energy Technology in the Era of Globalization, it discusses recent developments such as the impacts of globalization and energy efficiency on economic growth and environmental quality. It also explores the ways in which globalization has benefited green energy development, e.g. the expansion of new technologies and cleaner machinery, as well as the problems it has caused. Written by respected experts, the respective contributions address topics including econometric modelling of the behaviour of and dynamics between economic growth and environmental quality, aspects of energy production and consumption, oil prices, economic growth, trade openness, environmental quality, regulatory measures, and innovations in the energy sector. Providing a comprehensive overview of the latest research, the book offers a valuable reference guide for researchers, policymakers, practitioners and students in the fields of renewable energy development and economics.
Inclusive Green Growth: The Pathway to Sustainable Development makes the case that greening growth is necessary, efficient, and affordable. Yet spurring growth without ensuring equity will thwart efforts to reduce poverty and improve access to health, education, and infrastructure services.
The Federal Government of Nigeria has adopted Vision 20: 2020--an ambitious strategy to make Nigeria the world's 20th largest economy by 2020. In the absence of policies to accompany economic growth in key carbon-emitting sectors with a reduced carbon footprint, emission of greenhouse gases could more than double in the next two decades. To evaluate how to achieve the objectives of Vision 20: 2020 with reduced carbon emissions, the Federal Government of Nigeria and the World Bank undertook a multiyear program of analytical work. The summary results of this program are contained in a separate book (published in the World Bank's "Directions in Development" series) entitled Low-Carbon Development: Opportunities for Nigeria, which concludes that Nigeria can achieve its development objectives, while stabilizing emissions at 2010 levels and providing domestic benefi ts on the order of 2 percent of GDP. This volume is a collection of the background technical reports on the four sectors of inquiry: agriculture and land use, oil and gas, power, and transport. It contains details on the data, methodology, and assumptions used throughout the analysis. For agriculture and land use, the study team developed an agriculture production growth model, which permits the evaluation of sector emissions in both a reference and a low-carbon scenario. The study fi nds that low-carbon practices have signifi cant potential to make the sector more productive and more climate-resilient. For the oil and gas sector, the analysis assesses the potential of accelerated phase-put of gas fl aring, reduction of leakages, and increased energy effi ciency in the operation of facilities, to both reduce the sector's emission and contribute to the industry's net revenues and growth. The analysis of the power sector shows how the country can expand power generation and broaden access to electricity while reducing associated emissions, through renewable energy, energy effi ciency, and lower-carbon technologies in thermal power generation. Finally, this analysis assesses the expected growth in CO2 emissions from on-road transport under a normal business development scenario up to the year 2035, and it identifi es actions at national and local levels that would reduce this growth, resulting in fuel economies, better air quality, and reduced congestion. Assessing Low-Carbon Development in Nigeria: An Analysis of Four Sectors outlines several actions that the Nigerian government could undertake to facilitate the transition to a low-carbon economy.
Research Paper (postgraduate) from the year 2013 in the subject Energy Sciences, grade: 1.7, University of Applied Sciences Berlin (Engineering), course: Sustainable Development, language: English, abstract: Electricity is an important feature for economic development. The necessity lies in the fact that electricity affects every aspect of our economy. Nigeria should aim towards sustainable electricity access to its citizens. Nigeria must have a stable electrical energy supply to meet the market, basic needs of the people. A nation whose energy supply is not reliable does not help in the development of the national economy. Nigeria is a nation with more than 162 million inhabitants with less electric access to both rural and urban areas. This study has reviewed and analyzed the challenges and opportunities facing Electricity Access in Nigeria. The study has employed approach to good features of sustainable development system in the Nigerian electrical energy sector by proposing a sustainable strategies and alternatives for energy access through the use of solar power, wind and hydro power, and Bio-mass . Also, the study clearly explained and analyzed the problems facing the electricity in Nigeria. Thus, this study has used literature review methods, to gather information’s on Energy Sector in general and existing literatures on the Nigeria Energy Sector as well as a SWOT/PEST Matrix of the Nigerian Energy sector.