Impact of Non-Renewable energy on economic growth in Nigeria Autoregressive distributive lag model (ARDL)

The study examined the impact of non-renewable energy on economic growth in Nigeria. Specifically, the study sought to: investigate the impact of coal energy on economic growth in Nigeria; examine the impact of natural gas energy on economic growth in Nigeria and determine the impact of petroleum/crude oil energy on economic growth in Nigeria. This study made use of ex post-facto research design. These variables of the study consist of economic growth (RGDP); natural gas energy (GAS), petroleum/crude oil energy (CRUDE), coal energy (COAL), exchange rate (EXCHR) and inflation rate (INFLA) for a period of 1992 to 2022 as defined in our model specification. The pre-estimation and post-estimation tests were descriptive statistics, correlation matrix, ADF-Unit Root test statistic, Bound co-integration test, Ramsey Reset test, Breuch-Godfrey Serial Correlation LM Test respectively while the data analytical technique was Autoregressive distributive lag model (ARDL) technique. The empirical results show that petroleum/crude oil energy has 28% positive and significant impact on economic growth in short run (Probability value of 0.0051 < 0.05) but it was 20% positive and significant impact on economic growth in long run (Probability value of 0.0039 > 0.05); natural gas energy has 12 % positive and significant impact on economic growth in short run (Probability value of 0.0130 < 0.05) but it was 47 % positive and significant impact on economic growth in long run (Probability value of 0.0051 < 0.05) and coal energy has 5 % positive and insignificant impact on economic growth in short run (Probability value of 0.0130 > 0.05) but it was 26 % positive and significant impact on economic growth in long run (Probability value of 0.0078 < 0.05). The study recommends that government of Nigeria should encourage entrepreneurs to invest and/or facilitate human capital accumulation to promote the use of coal energy sources in producing goods and services.

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APA

Lawrence, A., Chike, A , Chukwuemeka, N & Eze, C (2023). Impact of Non-Renewable energy on economic growth in Nigeria Autoregressive distributive lag model (ARDL). Afribary. Retrieved from https://afribary.com/works/impact-of-non-renewable-energy-on-economic-growth-in-nigeria-autoregressive-distributive-lag-model-ardl

MLA 8th

Lawrence, Azike, et. al. "Impact of Non-Renewable energy on economic growth in Nigeria Autoregressive distributive lag model (ARDL)" Afribary. Afribary, 24 Apr. 2023, https://afribary.com/works/impact-of-non-renewable-energy-on-economic-growth-in-nigeria-autoregressive-distributive-lag-model-ardl. Accessed 01 May. 2024.

MLA7

Lawrence, Azike, Azike Chike , Ngwu Chukwuemeka and Chidera Eze . "Impact of Non-Renewable energy on economic growth in Nigeria Autoregressive distributive lag model (ARDL)". Afribary, Afribary, 24 Apr. 2023. Web. 01 May. 2024. < https://afribary.com/works/impact-of-non-renewable-energy-on-economic-growth-in-nigeria-autoregressive-distributive-lag-model-ardl >.

Chicago

Lawrence, Azike, Azike Chike , Ngwu Chukwuemeka and Chidera Eze . "Impact of Non-Renewable energy on economic growth in Nigeria Autoregressive distributive lag model (ARDL)" Afribary (2023). Accessed May 01, 2024. https://afribary.com/works/impact-of-non-renewable-energy-on-economic-growth-in-nigeria-autoregressive-distributive-lag-model-ardl