%0 Journal Article
%T Global Renewable Energy Consumption and Oil and Gas Export: An Empirical Analysis of the Nigerian Economy
%A Bukar Zannawaziri
%A Adam Konto Kyari
%A Abdulsalam Masud
%J The International Journal of Applied Economics and Finance
%D 2012
%I Asian Network for Scientific Information
%X Since after the Arab oil embargo of 1973, net oil importing countries developed the agenda for substituting fossil fuel and to date, renewable energy has become a major power source for most countries. This motivated for a study which analysed the possible impact of global renewable energy consumption on the Nigerian economy (Net Oil and Gas Export) over the period 1980-2008. The empirical results were obtained by analysing the data using the statistical time trend analyses (descriptive) in explaining the problem under investigation. The findings revealed that renewable consumption by Nigeria¡¯s major oil and gas importers causes significant negative impact on its economy in terms of reduced crude oil and gas export. The result suggests that Nigeria as a mono-cultural economy should uncover alternative corridors other than oil and gas export to provide revenue in order to accelerate Nigeria¡¯s economic growth and development.
%K Global renewable energy
%K empirical analysis
%K oil and gas export
%K economic growth
%U http://docsdrive.com/pdfs/ansinet/ijaef/2012/148-156.pdf