Energy consumption, carbon emission and economic growth in Nigeria: Implications for energy policy and climate protection in Nigeria

Abstract

The paper analyses causal effect of oil production and carbon emission from gas flaring on the growth rate in Nigeria between 1970 and 2011. The result revealed that economic growth rate, change in crude oil production growth rate, crude oil production growth rate, crude oil consumption growth rate, consumption growth rate, change in growth rate of carbon monoxide emission from gas flaring, growth rate of carbon monoxide emission from gas flaring and change in investment growth rate, investment growth rate are significant factors influencing economic growth in Nigeria. Therefore, this study concludes that there is causal relationship between oil production, carbon emission from gas flaring and economic growth in Nigeria. More importantly carbon emission constitutes an impediment to sustainable economic growth in Nigeria.