Modeling the Demand-Supply Mismatch and Price Optimization of Natural Gas in Nigeria

Binta Yahaya, S A J Obansa and Malanta Sabiu Abdullahi
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Binta Yahaya: Department of Economics, Yobe State University, Damaturu
S A J Obansa: Department of Economics, University of Abuja, FCT
Malanta Sabiu Abdullahi: Department of Economics, Yobe State University, Damaturu

International Journal of Research and Scientific Innovation, 2023, vol. 10, issue 8, 187-197

Abstract: Natural gas usage in Nigeria is increasing and capturing a higher percentage of the country’s energy mix. However, the demand is ever-increasing while supply is not able to feed domestic demand. The federal government has devised several strategies, policies, and regulations to ensure the market runs smoothly, but the lack of gas supply infrastructure and low gas prices among other factors remained a major issue. This study analyzes the demand-supply dynamics and price optimization of natural gas in Nigeria using the 2SLS. The study utilizes historical data and mathematical modeling techniques to identify the factors influencing the market, quantify the supply-demand mismatch, and develop an optimized pricing strategy. The research provides insights into the Nigerian natural gas market, offering policy recommendations to address the imbalance and optimize prices. The findings of this study contribute to a better understanding of the challenges and opportunities in the natural gas sector in Nigeria.

Date: 2023
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