Biomass Energy Consumption and Economic Growth: An Assessment of the Relevance of Sustainable Development Goal – 7 in Nigeria

<p>In many developing and emerging economies of the world, renewable and non-renewable energy use has been a contentious issue in maintaining a sustainable economy. Renewable energy is popular because of increased oil demand and cost, dependence on external sources of energy and emissions lead...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Oluwasogo S. Adediran, Ibiene Benibo, Doris Akinpelumi
Formato:	article
Lenguaje:	EN
Publicado:	EconJournals 2021
Materias:	Environmental sciences GE1-350 Energy industries. Energy policy. Fuel trade HD9502-9502.5
Acceso en línea:	https://doaj.org/article/064d9676234f446e9f1eb6c87823ca40
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:doaj.org-article:064d9676234f446e9f1eb6c87823ca40
record_format	dspace
spelling	oai:doaj.org-article:064d9676234f446e9f1eb6c87823ca402021-11-12T07:27:31ZBiomass Energy Consumption and Economic Growth: An Assessment of the Relevance of Sustainable Development Goal – 7 in Nigeria2146-4553https://doaj.org/article/064d9676234f446e9f1eb6c87823ca402021-11-01T00:00:00Zhttps://econjournals.com/index.php/ijeep/article/view/10565https://doaj.org/toc/2146-4553<p>In many developing and emerging economies of the world, renewable and non-renewable energy use has been a contentious issue in maintaining a sustainable economy. Renewable energy is popular because of increased oil demand and cost, dependence on external sources of energy and emissions leading to environmental destruction. Particularly in Nigeria, due to poor electricity supply and inadequate access to the use of clean energy; houses and firms have been subjected to the use of fossil fuels which results in increased carbon emissions and productivity distortion. In the light of this, the need for clean energy as identified by United Nations Sustainable Development Goal (SDG) - 7, describes the need for access to affordable, dependable and clean energy for all. Therefore, this study investigates the relationship between Nigeria's consumption of biomass energy and economic growth sustainability. The data used for this study covers a sample period of 1981 to 2017 annual time series dataset on these variables: GDP growth rate, labour force, gross fixed capital formation, biomass energy consumption and international crude oil price, as sourced from World Bank World Development Indicators. Using Autoregressive Distributed Lag (ARDL) and Granger Causality, this study identifies the quantitative significance of biomass energy consumption in contributing to economic growth sustainability in Nigeria. Therefore, the implication of the findings highlight that for Nigeria to grow and sustain its economy, there is need to invest more in clean energy sources to growth and sustain the economy.</p><p><strong>Keywords: </strong>Energy; Sustainable Economy; Biomass<strong></strong></p><p><strong>JEL Classifications: </strong>Q40; Q01; Q42</p><p>DOI: <a href="https://doi.org/10.32479/ijeep.10565">https://doi.org/10.32479/ijeep.10565</a></p>Oluwasogo S. AdediranIbiene BeniboDoris AkinpelumiEconJournalsarticleEnvironmental sciencesGE1-350Energy industries. Energy policy. Fuel tradeHD9502-9502.5ENInternational Journal of Energy Economics and Policy, Vol 11, Iss 6, Pp 43-49 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Environmental sciences GE1-350 Energy industries. Energy policy. Fuel trade HD9502-9502.5
spellingShingle	Environmental sciences GE1-350 Energy industries. Energy policy. Fuel trade HD9502-9502.5 Oluwasogo S. Adediran Ibiene Benibo Doris Akinpelumi Biomass Energy Consumption and Economic Growth: An Assessment of the Relevance of Sustainable Development Goal – 7 in Nigeria
description	<p>In many developing and emerging economies of the world, renewable and non-renewable energy use has been a contentious issue in maintaining a sustainable economy. Renewable energy is popular because of increased oil demand and cost, dependence on external sources of energy and emissions leading to environmental destruction. Particularly in Nigeria, due to poor electricity supply and inadequate access to the use of clean energy; houses and firms have been subjected to the use of fossil fuels which results in increased carbon emissions and productivity distortion. In the light of this, the need for clean energy as identified by United Nations Sustainable Development Goal (SDG) - 7, describes the need for access to affordable, dependable and clean energy for all. Therefore, this study investigates the relationship between Nigeria's consumption of biomass energy and economic growth sustainability. The data used for this study covers a sample period of 1981 to 2017 annual time series dataset on these variables: GDP growth rate, labour force, gross fixed capital formation, biomass energy consumption and international crude oil price, as sourced from World Bank World Development Indicators. Using Autoregressive Distributed Lag (ARDL) and Granger Causality, this study identifies the quantitative significance of biomass energy consumption in contributing to economic growth sustainability in Nigeria. Therefore, the implication of the findings highlight that for Nigeria to grow and sustain its economy, there is need to invest more in clean energy sources to growth and sustain the economy.</p><p><strong>Keywords: </strong>Energy; Sustainable Economy; Biomass<strong></strong></p><p><strong>JEL Classifications: </strong>Q40; Q01; Q42</p><p>DOI: <a href="https://doi.org/10.32479/ijeep.10565">https://doi.org/10.32479/ijeep.10565</a></p>
format	article
author	Oluwasogo S. Adediran Ibiene Benibo Doris Akinpelumi
author_facet	Oluwasogo S. Adediran Ibiene Benibo Doris Akinpelumi
author_sort	Oluwasogo S. Adediran
title	Biomass Energy Consumption and Economic Growth: An Assessment of the Relevance of Sustainable Development Goal – 7 in Nigeria
title_short	Biomass Energy Consumption and Economic Growth: An Assessment of the Relevance of Sustainable Development Goal – 7 in Nigeria
title_full	Biomass Energy Consumption and Economic Growth: An Assessment of the Relevance of Sustainable Development Goal – 7 in Nigeria
title_fullStr	Biomass Energy Consumption and Economic Growth: An Assessment of the Relevance of Sustainable Development Goal – 7 in Nigeria
title_full_unstemmed	Biomass Energy Consumption and Economic Growth: An Assessment of the Relevance of Sustainable Development Goal – 7 in Nigeria
title_sort	biomass energy consumption and economic growth: an assessment of the relevance of sustainable development goal – 7 in nigeria
publisher	EconJournals
publishDate	2021
url	https://doaj.org/article/064d9676234f446e9f1eb6c87823ca40
work_keys_str_mv	AT oluwasogosadediran biomassenergyconsumptionandeconomicgrowthanassessmentoftherelevanceofsustainabledevelopmentgoal7innigeria AT ibienebenibo biomassenergyconsumptionandeconomicgrowthanassessmentoftherelevanceofsustainabledevelopmentgoal7innigeria AT dorisakinpelumi biomassenergyconsumptionandeconomicgrowthanassessmentoftherelevanceofsustainabledevelopmentgoal7innigeria
_version_	1718431090327158784

Biomass Energy Consumption and Economic Growth: An Assessment of the Relevance of Sustainable Development Goal – 7 in Nigeria

Ejemplares similares