Mountain Top University Library

This study examined the relationship between energy and economic growth in Nigeria.Specifically, it analyzed the effect of renewable energy on growth, examined the impact of nonrenewable energy on economic growth, and investigated the interactive effect of renewable and non-renewable energy on economic growth in Nigeria. The annual time series secondary data was
used in the study. World Development Indicators (2020), Central Bank of Nigeria Statistical Bulletin (2021), and Penn World Table version 9.0 were all used to compile data on real GDP, hydroelectric sources, renewable energy consumption, renewable energy output, oil and petroleum products, natural gas and electricity. The analysis of data was conducted using econometric
methods, precisely the Autoregressive Distributed Lag (ARDL) Model. The unit root test, utilizing both the Augmented Dickey-Fuller (ADF) and Phillip and Perron (PP) tests, the lag order of the ARDL models using VAR lag order selection criteria, and the bound test were all carried out. The results of the study show that renewable energy has an insignificant and positive relations with
real GDP in Nigeria. Also, non-renewable energy has a positive and insignificant relations with economic growth while the interactive effect of renewable and non-renewable energy is statistically insignificant but positively related with economic growth. The study therefore concluded that both renewable and non-renewable energy has not been instrumental in aiding
economic growth in Nigeria and an increase in both energy usage in Nigeria would increase the level of economic growth. It is also ascertained that the interrelations between renewable and nonrenewable energy, although statistically insignificant contributed directly to the economy for the period 1980-2022.Keywords: Economic growth, Renewable energy, Non-renewable energy, Nigeria