Download or read book Renewable Energy Consumption and Economic Growth in Nigeria written by George Umeji and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Analysis on the Impact of Energy Consumption and Green Growth in Nigeria written by Basiru Haliru and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Pollutant Emissions Energy Consumption and Economic Growth in Nigeria written by Philip O. Alege and published by . This book was released on 2015 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study investigates the direction of causal relationships among emissions, energy consumption and economic growth in Nigeria using annual time series data for the period 1970-2013. The Johansen maximum likelihood cointegration tests indicate an existence of a unique cointegrating vector, and the normalized long run estimates shows that fossil fuel enhances carbon emissions whereas, clean energy source (electricity) mitigate the atmospheric concentration of CO2 emissions. Similarly, the Wald exogeneity Granger causality test indicates an existence of unidirectional causation running from fossil fuel to CO2 emissions and GDP per capita. Alternatively, non-fossil energy (electric power) causes more proportionate change in GDP per capita but our result could not establish any causal link between electric power and carbon emissions. Finally, charting a channel towards ensuring sustainable environment and economic development involves a progressive substitutability of clean energy sources for fossil consumption.

Download or read book Energy Consumption and Economic Growth New Insights Into the Cointegration Relationship written by Ansgar Hubertus Belke and published by . This book was released on 2014 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the long-run relationship between energy consumption and real GDP, including energy prices, for 25 OECD countries from 1981 to 2007. The distinction between common factors and idiosyncratic components using principal component analysis allows to distinguish between developments on an international and a national level as drivers of the long-run relationship. Indeed, cointegration between the common components of the underlying variables indicates that international developments dominate the long-run relationship between energy consumption and real GDP. Furthermore, the results suggest that energy consumption is price-inelastic. Causality tests indicate the presence of a bi-directional.

Download or read book Environmental Kuznets Curve EKC written by Burcu Özcan and published by Academic Press. This book was released on 2019-05-13 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: Environmental Kuznets Curve (EKC): A Manual provides a comprehensive summary of the EKC, summarizing work on this economic tool that can analyze environmental pollution problems. By enabling users to reconcile environmental and economic development policies, Environmental Kuznets Curve studies lend themselves to the investigation of the energy-growth and finance-energy nexus. The book obviates a dependence on outmoded tools, such as carrying capacity, externalities, ecosystem valuation and cost benefit analysis, while also encouraging flexible approaches to a variety of challenges. Provides a comprehensive summary of EKC studies, including advances in econometrics, literature reviews and historical perspectives Outlines solutions to common problems in applying EKC techniques by reviewing major case studies Explores frequently-utilized proxies for environmental quality

Download or read book Handbook of Research on Energy and Environmental Finance 4 0 written by Rafay, Abdul and published by IGI Global. This book was released on 2022-02-18 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Energy and environmental finance (EEF) is an emerging global phenomenon. During the last few decades, many countries started monitoring EEF practices. Major components of these practices include costs, fraud, scandals, and more. Among several problems, the most prevalent is the lack of awareness about the issues of EEF among various stakeholders. The Handbook of Research on Energy and Environmental Finance 4.0 is an international reference that provides understanding and lessons learned in all aspects of EEF in individual, organizational, and societal experiences. This book examines research in the shape of experience, implementation, and application. Covering topics such as clean power, energy poverty, and environmental degradation, this book is a dynamic resource for academicians, researchers, professionals who work within the domains of EEF, EEF regulators, scholars of EEF, managers involved in EEF organizations, law practitioners involved in EEF regulations, auditors involved in audit and control systems of EEF, university professors, and students pursuing studies and research in EEF.

Download or read book Energy Policies for Sustainable Development Strategies written by Nnaemeka Vincent Emodi and published by Springer. This book was released on 2016-05-18 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Oil Mortality in Post Fossil Fuel Era Nigeria written by Augustine Sadiq Okoh and published by Springer Nature. This book was released on 2020-11-21 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an insight into the complexities of weaning Nigeria from its fossil fuels addiction while growing the economy on low carbon trajectory. Nigeria faces a carbon catch 22 with the proliferation of renewable energy alternatives and scale-up of electric vehicles. The dilemma Nigeria is confronted with is to grow its fossil-led economy or face the challenge of its fossil infrastructure becoming stranded assets. It is a roadmap for plotting an environmentally benign path out of the country’s economic, social and environmental crises. This book is, therefore, a valuable resource for students, Civil Society Organizations, policymakers, academics and climate change adaptation practitioners who are interested in finding an environmentally sensitive path out of Nigeria’s economic cul-de-sac fostered by the decarbonization of the global energy economy. Findings of this study will trigger a national conversation on the looming exit from fossil fuels. In doing so, accelerate the integration of renewable energy into the Nigerian national development plan while building a carbon neutral society. Lessons learnt from the handling of Nigeria’s precarious circumstance will be of immense benefit to other oil prospecting, oil producing and non-producing nations who are interested in finding an equitable way of pursuing two inversely related goals of meeting their decarbonization commitments while simultaneously growing their economies in the post-Paris era.

Download or read book The Learning Economy and the Economics of Hope written by Bengt-Åke Lundvall and published by Anthem Press. This book was released on 2016-12-01 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: ‘The Learning Economy and the Economics of Hope’ brings together contributions by an expert on policies, management and economics of innovation and knowledge. It offers original insights in processes of innovation and learning and it draws implications for economic theory and public policy. It introduces the reader to important concepts such as innovation systems and the learning economy. It throws a new light on economic development and opens up for a new kind of economics – the economics of hope. It offers a fresh perspective on many of the most important global challenges of today showing how full attention to the characteristics of the learning economy needs to be combined with innovation in global governance if we want to be able to handle these challenges. ‘The Learning Economy and the Economics of Hope’ presents work published between 1985 and 1992 and introduces the core concepts innovation as an interactive process. The analysis demonstrates that new technology is developed in an interaction between individuals and organisations and that innovation would not thrive in an economy similar to textbook models of pure markets and perfect competition. It also presents articles that were published between 2004 and 2010. These may be seen as further developments and evidence-based consolidation of ideas that were presented more than ten years earlier. It presents the learning economy through the perspective of the economics of knowledge. The concluding part of the book includes three papers that make use of the conceptual frameworks developed in an analysis of China’s innovation system and policy, Europe’s crisis and Africa’s underdevelopment.

Download or read book Challenges and Opportunities of Sustainable Electricity Access in Nigeria written by Emmanuel Odoyi and published by GRIN Verlag. This book was released on 2014-04-22 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Renewable Energy Consumption Gross Domestic Savings and Economic Growth Nexus in West Africa written by UMAR Mohammed Bello HABIBA and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the trend in increasing demand for energy, energy security, increasing change in climates, and the rising rate of globalization and determination for economic growth continues to gain momentum, governments all over the world are paying more attention to the far-reaching impacts on ideas that can ensure growth in their various nations. The paper examines the relationship between renewable energy consumption, gross domestic savings and economic development in west Africa using panel data for 15 countries from 1997 to 2020. The long-run PMG analysis results show the variables' individual contributions. Renewable energy consumption was positively related to economic growth in the long run; gross domestic savings were only significant in the short run showing a positive relationship with economic growth, which is in line with Solow Swan's idea on the growth model in the short run but was not significant in the long run. The interaction of both GDS and REC was not substantial in the long run showing both variables only contribute individually to the economic growth in west Africa. ECM shows a 22% rate of speed of adjustment in case of disequilibrium in the short run.

Download or read book On the Relationship Between Energy Consumption Productivity and Economic Growth written by Ishmael Ackah and published by . This book was released on 2015 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: It has been suggested that Africa's growth is principally driven by natural resource rents. This is at variance with the growth in countries such as Korea and Taiwan where productivity has been identified as the main driver. In this study, the effect of energy consumption, investment, productivity on per capita growth in oil producing African countries is examined by employing a dynamic simultaneous panel data model. The simultaneous panel data model is able to examine the three-way causal relationship between energy consumption, productivity and economic growth. The results confirm the importance of income, productivity, price and investment influence the demand for renewable end non-renewable energy. The study recommends that there should be investment in productivity to enhance economic growth and minimize energy consumption.

Download or read book Financial Development and Renewable Energy Consumption in Nigeria written by Stephen Kelechi Dimnwobi and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial sector performance is increasingly linked with the transition to renewable energy in the sustainability discourse of developing economies. This paper examines the nexus and implication (s) of financial development on renewable energy consumption in Nigeria (the largest and most p opulous economy in Africa). Specifically, this study utilised the broad-based financial developm ent index data to effectively address the multidimensional nature of financial development and th e portion of renewable energy in total energy consumption as key variables, while other relevant pieces of information (growth rate of per capita GDP, foreign direct investment and consumer pri ce index) were incorporated. The study employed a blend of the ADF test and Zivot-Andrew test to ascertain stationarity properties as well as the likelihood of structural breaks, while the ARDL was utilized to determine the long-run relationship(s) using data from 1981 to 2019. The study estimation finds, among other things, that financial development is critical for renewable energy consumption in Nigeria and recommends policies to promote better outcomes for the financial and energy sectors, respectively.

Download or read book The Nexus of Renewable Energy Consumption and Economic Growth in Sub Saharan Africa written by F. Bondinuba and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Purpose: The study examines the relationship between renewable energy consumption and economic growth in Sub-Saharan Africa.MethodologyPedronicointegration test was employed to examine the long-run relationship between economic growth and renewable energy consumption in Sub-Saharan Africa. The study also used the Granger causality test to determine the direction of causality between economic growth and renewable energy consumption.Findings: It emerged that renewable energy consumption Granger causes economic growth in the short run. However, economic growth does not granger cause renewable energy consumption in the short run. Moreover, economic growth Granger causes granger energy consumption in the long run, but energy consumption does not cause economic growth in the long run.Originality: This paper is the first attempt to empirically study the relationship between renewable energy and economic growth in Sub-Saharan Africa using the Pedroni Cointegration technique and Granger causality test.LimitationsDue to the unavailability of data, not all countries in Sub-Sahara Africa were included in the data analysis.Recommendation: Government agencies should implement policies that encourage a switch from fossil fuel to renewable energy consumption to ensure sustained economic growth.ConclusionIt concludes that renewable energy consumption drives economic growth.

Download or read book WHO Guidelines for Indoor Air Quality written by World Health Organization and published by World Health Organization. This book was released on 2014 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Built on existing WHO indoor air quality guidelines for specific pollutants, these guidelines bring together the most recent evidence on fuel use, emission and exposure levels, health risks, intervention impacts and policy considerations, to provide practical recommendations to reduce this health burden.

Download or read book Measuring Energy Efficiency in Nigeria written by Ojonugwa Anthony Bernard and published by . This book was released on 2019 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Green Energy to Sustainability Strategies for Global Industries written by Alain A. Vertes and published by John Wiley & Sons. This book was released on 2020-06-10 with total page 702 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reviews the latest advances in biofuel manufacturing technologies and discusses the deployment of other renewable energy for transportation Aimed at providing an interface useful to business and scientific managers, this book focuses on the key challenges that still impede the realization of the billion-ton renewable fuels vision. It places great emphasis on a global view of the topic, reviewing deployment and green energy technology in different countries across Africa, Asia, South America, the EU, and the USA. It also integrates scientific, technological, and business development perspectives to highlight the key developments that are necessary for the global replacement of fossil fuels with green energy solutions. Green Energy to Sustainability: Strategies for Global Industries examines the most recent developments in biofuel manufacturing technologies in light of business, financial, value chain, and supply chain concerns. It also covers the use of other renewable energy sources like solar energy for transportation and proposes a view of the challenges over the next two to five decades, and how these will deeply modify the industrial world in the third millennium. The coming of age of electric vehicles is also looked at, as is the impact of their deployment on the biomass to biofuels value chain. Offers extensive updates on the field of green energy for global industries Covers the structure of the energy business; chemicals and diesel from biomass; ethanol and butanol; hydrogen and methane; and more Provides an expanded focus on the next generation of energy technologies Reviews the latest advances in biofuel manufacturing technologies Integrates scientific, technological and business perspectives Highlights important developments needed for replacing fossil fuels with green energy Green Energy to Sustainability: Strategies for Global Industries will appeal to academic researchers working on the production of fuels from renewable feedstocks and those working in green and sustainable chemistry, and chemical/process engineering. It is also an excellent textbook for courses in bioprocessing technology, renewable resources, green energy, and sustainable chemistry.