Energy Efficiency and Economic Growth in Nigeria: A Long-Run Perspective

Jamiu Ibrahim Aminu (), Mohammed Shamwil () and Ibrahim Abdullahi ()
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Jamiu Ibrahim Aminu: Faculty of Arts &Social Sciences, Gombe State University
Mohammed Shamwil: Department of Economics & Development Studies, Federal University of Kashere, Gombe
Ibrahim Abdullahi: Baze University, Abuja

No 15016577, Proceedings of Economics and Finance Conferences from International Institute of Social and Economic Sciences

Abstract: This study investigates the relationship between energy efficiency and economic growth in Nigeria using time series data from 1980 to 2023 and the Stochastic Frontier Analysis framework. Results reveal that Nigeria?s energy demand is both price-elastic and income-elastic, indicating that changes in energy prices and income significantly influence consumption. Labour and capital act as substitutes for energy, while technological innovation boosts productivity but increases energy demand. The estimated average technical efficiency is relatively high at 95%, though marked by volatility and structural disparities across sectors. These findings highlight the critical role of policy consistency, reliable energy supply, and targeted investment in modern technologies to enhance efficiency and align Nigeria?s growth with sustainable development goals.

Keywords: Energy Efficiency; Economic Growth; Stochastic frontier analysis; Nigeria (search for similar items in EconPapers)
JEL-codes: C32 Q40 Q56 (search for similar items in EconPapers)
Pages: 19 pages
New Economics Papers: this item is included in nep-eff, nep-ene and nep-gro
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Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Prague, Nov -0001, pages 38-56

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