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VOL. 9, ISSUE 6 (2023)
The impact of renewable energy consumption on Nigeria economy (1980-2022)
Authors
Atoyebi Kehinde O, Eretan Gbeng, Usman Damilola
Abstract
This paper investigates the impact of renewable energy consumption on
the Nigerian economy. The data spanned from 1980 to 2022. The use of renewable
energy consumption has become increasingly important in the global effort to
reduce greenhouse gas emissions and mitigate the impacts of climate change.
Quite a few studies have found that increasing renewable energy consumption in
Nigeria can have a positive impact on economic growth by reducing energy costs,
creating jobs, increasing access to electricity, improving living standards,
reducing air pollution, and improving the balance of trade. The study conducts
a pre-estimation test using descriptive statistics and ordinary least square.
But due to inherent problem associated with ordinary least square (OLS)
estimates, the study went further to conduct a post-estimation test using
Augmented Dickey fuller test and Auto-regressive distributed lag model. The
result of the study showed that a lack of investment in renewable energy
infrastructure is hindering the growth of the renewable energy sector in
Nigeria.
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Pages:23-27
How to cite this article:
Atoyebi Kehinde O, Eretan Gbeng, Usman Damilola "The impact of renewable energy consumption on Nigeria economy (1980-2022)". International Journal of Humanities and Social Science Research, Vol 9, Issue 6, 2023, Pages 23-27
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