Energy Consumption and Economic Growth Nexus in Nigeria: Evidence based on ARDL Bound Test Approach

Authors

  • Lasbrey Anochiwa Department of Economics and Development Studies Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa
  • Oguwuike Michael Enyoghasim Department of Economics and Development Studies Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa
  • Kalu E. Uma Department of Economics and Development Studies Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa
  • C. Paul Obidike Department of Accountancy/Banking and Finance Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa
  • Iyke Uwazie Uwazie Department of Economics Michael Okpara University of Agriculture, Umudike Abia State Nigeria, West Africa
  • Ikwor Okoroafor Ogbonnaya Department of Economics and Development Studies Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa
  • O. Richard Ojike Department of Economics and Development Studies Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa
  • Clara Kelechi Anyanwu Department of Economics and Development Studies Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa

Abstract

This study examines the relationship between economic growth and energy consumption in Nigeria by using ARDL Bound Test regression analysis. In the investigation process energy consumption, was disaggregated into electricity, coal and petroleum with growth rate of GDP data is used from 1980-2017. The findings show that petroleum and electricity variables are positive and significant to growth while coal is positive but not significant. Overall outcome is that energy consumption has a positive relationship with economic growth. The coal deposit must be put in use to increase energy production and consumption and stimulate other economic activities for growth

Keywords: Energy consumption, economic growth, ARDL test.

JEL Classifications: Q32, Q044

DOI: https://doi.org/10.32479/ijeep.10021

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Author Biographies

Lasbrey Anochiwa, Department of Economics and Development Studies Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa

Department of Economics and Development Studies. Alex Ekwueme Federal University Ndufu-Alike, Ikwo (AE-FUNAI) Lectuer

Oguwuike Michael Enyoghasim, Department of Economics and Development Studies Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa

Department of Economics and Development Studies. Alex Ekwueme Federal University Ndufu-Alike, Ikwo (AE-FUNAI) Lectuer

Kalu E. Uma, Department of Economics and Development Studies Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa

Department of Economics and Development Studies. Alex Ekwueme Federal University Ndufu-Alike, Ikwo (AE-FUNAI) Lectuer

C. Paul Obidike, Department of Accountancy/Banking and Finance Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa

Department of Accountancy/Banking and Finance. Alex Ekwueme Federal University Ndufu-Alike, Ikwo (AE-FUNAI) Lectuer

Iyke Uwazie Uwazie, Department of Economics Michael Okpara University of Agriculture, Umudike Abia State Nigeria, West Africa

Department of Economics. Michael Okpara University of Agriculture, Umudike. Lectuer

Ikwor Okoroafor Ogbonnaya, Department of Economics and Development Studies Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa

Department of Economics and Development Studies. Alex Ekwueme Federal University Ndufu-Alike, Ikwo (AE-FUNAI) Lectuer

O. Richard Ojike, Department of Economics and Development Studies Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa

Department of Economics and Development Studies. Alex Ekwueme Federal University Ndufu-Alike, Ikwo (AE-FUNAI) Lectuer

Clara Kelechi Anyanwu, Department of Economics and Development Studies Alex Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Abakaliki, Ebonyi State Nigeria, West Africa

Department of Economics and Development Studies. Alex Ekwueme Federal University Ndufu-Alike, Ikwo (AE-FUNAI) Lectuer

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Published

2020-10-12

How to Cite

Anochiwa, L., Enyoghasim, O. M., Uma, K. E., Obidike, C. P., Uwazie, I. U., Ogbonnaya, I. O., Ojike, O. R., & Anyanwu, C. K. (2020). Energy Consumption and Economic Growth Nexus in Nigeria: Evidence based on ARDL Bound Test Approach. International Journal of Energy Economics and Policy, 10(6), 713–721. Retrieved from https://www.econjournals.com/index.php/ijeep/article/view/10021

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