Authors
David Oluseun Olayungbo, Ayodele Adekunle Faiyetole, Adenike Anike Olayungbo
Publication date
2022
Book
Handbook of Research on Energy and Environmental Finance 4.0
Pages
259-276
Publisher
IGI Global
Description
This chapter examines the interactions among energy consumption, economic growth, and carbon emissions in Nigeria for the period 1971-2018. The study adopts time-varying parameter vector auto regression (TVP-VAR) to explore the dynamic effects among the variables of interest. After analyzing the statistical properties of the data with Markov chain Monte Carlo (MCMC), a causal relationship between energy consumption and economic growth was found. It is also found that the environmental Kuznets curve (EKC) hypothesis is valid for Nigeria. It implies that as the economy of Nigeria grew, emissions were reduced. It is recommended that the Nigerian government should continue pursuing emissions reduction policies, such as the nationally determined contributions (NDCs), and should also ensure the appropriate energy mix to enhance industrialization drive and improve environmental quality.
Total citations
202220232024353
Scholar articles
DO Olayungbo, AA Faiyetole, AA Olayungbo - Handbook of research on energy and environmental …, 2022