Renewable energy consumption, financial development and environmental quality in Nigeria

Kingsley Imandojemu and Ademayowa M. Adebukunola

ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, 2024, vol. 2024/1, issue 1, 259-284

Abstract: The paper investigates the renewable energy consumption-environmental quality nexus using the FMOLS time-series analysis for Nigeria from 1981 to 2021. The findings indicated that nonrenewable energy consumption had an inverse and significant effect on environmental quality, while renewable energy consumption had a positive and significant impact on envi- ronmental quality. Financial development, on the other hand, had no significant effect on en- vironmental quality. As a result, the study suggests an appropriate policy-mix approach to ensure environmental quality in Nigeria. Furthermore, Nigeria should broaden its energy sources, specifically diversify to cleaner energy sources to guarantee environmental quality.

JEL-codes: C23 Q01 Q42 Q56 Q57 (search for similar items in EconPapers)
Date: 2024
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