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Electricity Consumption and Human Capital Development in Nigeria: Exploring the Implications for Economic Growth

Oluwatoyin A. Matthew, Christian U. Ede, Romanus Osabohien, Jeremiah Ejemeyovwi, Fagbeminiyi F. Fasina and Doris Akinpelumi
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Oluwatoyin A. Matthew: Department of Economics and Development Studies, Covenant University, Ota, Ogun State, Nigeria.
Christian U. Ede: Department of Economics and Development Studies, Covenant University, Ota, Ogun State, Nigeria.
Romanus Osabohien: Department of Economics and Development Studies, Covenant University, Ota, Ogun State, Nigeria.
Jeremiah Ejemeyovwi: Department of Economics and Development Studies, Covenant University, Ota, Ogun State, Nigeria.
Fagbeminiyi F. Fasina: Department of Economics and Development Studies, Covenant University, Ota, Ogun State, Nigeria.
Doris Akinpelumi: Department of Economics and Development Studies, Covenant University, Ota, Ogun State, Nigeria.

International Journal of Energy Economics and Policy, 2018, vol. 8, issue 6, 8-15

Abstract: This study examined the multiplier effect of human capital development through the usage of electricity power for maximum productivity to enhance economic growth in Nigeria. The study engaged data sourced from the World Development Indicators (WDI) for the period 1981-2016, and the Fully Modified Ordinary Least Squares (FMOLS) econometric method was engaged for the analysis. Results from the study showed that, human capital development is insignificantly related to the economic growth in Nigeria, while electricity consumption is significantly linked with economic growth. Therefore, the study recommended that there is a need for the government to develop human capital via the improvement of the educational and health facilities in the country as well as provide electricity in the rural and urban areas for maximum productivity.

Keywords: Human Capital; Electricity Consumption; Economic Growth. (search for similar items in EconPapers)
JEL-codes: F63 I15 I25 L94 (search for similar items in EconPapers)
Date: 2018
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