Empirical Analysis of The Dynamic Interplay between EnergyConsumption and Economic Growth in Nigeria
Year: 2025
Type: article
Abstract: The study investigated energy consumption and economic growth in Nigeria using time series data for the period of 1986 to 2024. Energy consumption was measured by PMS consumption, electricity consumption, coal consumption, and labour consumption, while economic growth was measured by GDP per capita. The study used the Error Correction Model (ECM) to achieve its objectives. The Johansen cointegration test showed that there was no long-run relationship between the components of energy consumption and economic growth in Nigeria. In the short run, it was observed that while PMS consumption and electricity consumption had an insignificant effect on GDP per capita, coal consumption and labour consumption were significant to GDP per capita growth. The study therefore recommended that the government should make adequate provision to enhance electricity consumption towards boosting economic growth in the Nigerian economy. This could be achieved if the federal government improves on energy generation, energy transmission, and energy distribution to boost its consumption among economic agents such as households, firms, markets, and the government itself.
DOI: 10.14419/wg2qr846
Authors: Kelechi Enyinna Ugwu, Charles Odinakachi Njoku, Anthony Ifeanyi Otuonye, Chilaka Emmanuel Nwaimo, Edward Uche Omeire, Godwin Onyeka Nwafor, Chuks Cornelius Molukwu, Emmanuel Chijioke Nwadike, Ibeawuchi Ifeanyi Echeme, Chidi Christian Onyeanwu, Cletus Ikechukwu Anah, Kolawole Ojo Adeniyi, Kingsley Onyekachi Onyele
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4414473682
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