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Cited by 18Energy, Environment, Economic GrowthGlobal Energy Security and PolicyMarket Dynamics and Volatility

The DOI matches its Crossref record; 37 of the 37 references it cites were found in a registry or an index.

Energy Consumption and Foreign Direct Investment Inflows in Nigeria: An Empirical Perspective

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Olaoye, Olusegun Peter, Aderemi, Timothy Ayomitunde, John, Nwagwu Chinedu, Jude-Okeke, Yvonne, Ezinwa, Azuh Dominic·2020·International Journal of Energy Economics and Policy
DOI 10.32479/ijeep.8489
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Abstract

The aim of this study is to examine the relationship between energy consumption and foreign direct investment in Nigeria over the period of 1990 to 2017. Consequently, Data were collected from UNCTAD World Bank database, World Data Atlas and CBN Statistical Bulletin respectively. Cointegration, DOLS and Granger Causality approach were employed to address the objective of the study. The major findings in this study are summarized as follow. Energy consumption and FDI inflow have a significant negative relationship with each other. There is a significant positive relationship between energy consumption and oil exports. However, openness of the economy and energy consumption have a non-significant negative relationship. In the same vein, there is an existence of a unidirectional causality which runs from FDI to oil exports in Nigeria. There is one way causal relationship running from energy consumption to oil exports. FDI inflows Granger Causes energy consumption. Meanwhile, energy consumption Granger Causes openness of the economy. Due to the findings that emerged in this study, it is important that this study recommends the following to the policy makers in Nigeria since energy consumption does not drive FDI inflows the policy makers in the country should provide a conducive climate that will facilitate the accessibility of foreign investors to primary energy consumption in the country. Also, the country should improve the value addition to the production of primary energy so that its consumption could be competitive in the global market.Keywords: Energy; Consumption; FDI; Oil Exports and NigeriaJEL Classifications: F21, F23DOI: https://doi.org/10.32479/ijeep.8489

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Research works printed but not linked: 2

  1. Nain, M.Z., Ahmad, W., Kamaiah, B. (2017), Energy consumption and India's economic growth. The Indian Economic Journal, 8(3), 46-62.
  2. Ogbanje, E.C., Okwu, O.J., Saror, S.F. (2010), An analysis of foreign direct investment in Nigeria: The fate of Nigeria's agricultural sector. PAT, 6(2), 15-25.

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Metadata

Authors
Olaoye, O. P., Aderemi, T. A., John, N. C., Jude-Okeke, Y., & Ezinwa, A. D.
Affiliations
  • Covenant University (NG)
  • Olabisi Onabanjo University (NG)
ORCID
Venue
International Journal of Energy Economics and Policy
Publisher
EconJournals
Published
2020-01-21
Volume
10
Issue
2
Pages
491-496
ISSN
2146-4553 (ISSN-L)
DOI
10.32479/ijeep.8489
OpenAlex
W3001149275
Cited by
16
References
37
Citations by year
2026: 1 · 2025: 3 · 2024: 1 · 2023: 5 · 2022: 1 · 2021: 4 · 2020: 1
FWCI
2.34
Type
journal article
Language
en
Open access
Locations
  • International Journal of Energy Economics and Policy (publishedVersion)
  • International Journal of Energy Economics and Policy (publishedVersion, cc-by)
  • Covenant University Repository (Covenant University) (acceptedVersion)
  • RePEc: Research Papers in Economics (submittedVersion)
  • DOAJ (DOAJ: Directory of Open Access Journals) (submittedVersion)
Funders
  • Covenant University
  • Covenant University Centre for Research, Innovation and Discovery
Topics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Energy, Environment, Economic Growth
  • Physical Sciences › Energy › General Energy › Global Energy Security and Policy
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Market Dynamics and Volatility
Keywords
energy consumption, foreign direct investment, FDI inflows, oil exports, economic openness, Nigeria

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