Effect of Power Supply on the Socio-Economic Development of South East, Nigeria
Year: 2024
Type: article
Abstract: The study examined the effect of power supply on the socio-economic development of South East, Nigeria. The research design utilized was descriptive research approach. The population of the study was 10,950,771. Data collected for the study were presented usingdescriptive statistics, The study revealed that Power supply does have a significant negative effect on cost of production in South East, Nigeria, (this is where the t-value is -796.442, and P-value is 0.00), that Power supply had a significant negative effect on job creation in South East, Nigeria (this is where t-value is -128.604, and P-value is 0.00) and that Power supply has a significant negative effect on job creation in South East, Nigeria (based on the t-value of -295.988, and P-value of 0.00). Major findings revealed that power supply significantly influences the economic development of South East Nigeria, several key implications arise. Reliable electricity is foundational for industrial productivity, influencing cost efficiencies and competitive market pricing. Conversely, frequent outages and reliance on costly alternatives like generators inflate operational expenses, hampering business growth and investment attractivenes. It is recommended among others to mitigate the impact of power supply on production costs in South East Nigeria, policymakers should prioritize infrastructure development. This includes enhancing grid reliability, promoting renewable energy sources, and subsidizing energy-efficient technologies.
DOI: 10.4314/jpds.v16i2.2
Authors: Ahumibe Nneze, Walter Ezeodili, Ujunwa Nze
Language: English
Field: Energy
Domain: Physical Sciences
Open Access status: diamond
OpenAlex ID: W4403381390