Determining the Nexus of Energy Efficiency and Sustainable Development in Nigeria: Time Series Analysis

Abstract

The study investigates the effects of energy resource efficiency on the triple themes of sustainable development (economic, social and environmental dimensions). We adopt a quantitative research method, and the required macroeconomic data were extracted from World Development Indicators for a period of 30 years (1991–2020). The extracted data were analysed using correlation analysis and linear regression. Ultimately, the estimations from the three models produced mixed results. Energy resource efficiency (EFF) exerts a significant positive effect on economic sustainability (ECS), a significant negative effect on social sustainability (SOS) and a significant negative effect on environmental sustainability (EVS). However, claims on government (COG) exerted an insignificant negative effect on ECS, an insignificant negative effect on SOS and a significant positive effect on environmental sustainability (EVS). In practical terms, the findings are consistent with previous empirical studies, and they also validate X-efficiency theory (XET) and resource curse theory (RCT). The study concludes with implications, limitations and further research directions.

Citation

Raimi, L., Ridwan, L.I. and Olowo, R. (2023), "Determining the Nexus of Energy Efficiency and Sustainable Development in Nigeria: Time Series Analysis", Crowther, D. and Seifi, S. (Ed.) Achieving Net Zero (Developments in Corporate Governance and Responsibility, Vol. 20), Emerald Publishing Limited, Leeds, pp. 153-176. https://doi.org/10.1108/S2043-052320230000020007