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Renewable Energy in Sustainable Electricity and Economic Development: The Case of Nigeria

Author

Listed:
  • Ekpobodo Raymond Ovwigho

    (Peoples Friendship University of Russia (PFUR), Engineering Academy, Department of Engineering Business and Management/ Space Technology, Moscow, 117198, Russia,)

  • Yuri Chepurko

    (Polyus Research Institute of M.F. Stelmakh Joint Stock Company, Russia,)

  • Oleg Y. Kazenkov

    (Polyus research institute of M.F. Stelmakh Joint Stock Company, Moscow, Russia,)

  • Dmitrii N. Ermakov

    (Peoples Friendship University of Russia (PFUR), Engineering Academy, Department of Engineering Business and Management/Space Technology, Moscow, 117198, Russia,)

  • Sinivie Progress Onini

    (Peoples Friendship University of Russia (PFUR), Economics Faculty, Department of Management, Moscow, 117198, Russia,)

  • Bashir Aliyu Yauri

    (Peoples Friendship University of Russia (PFUR), Faculty of Physical Mathematical and Natural Sciences, Department of Applied Informatics and Probability Theory, Moscow, 117198, Russia.)

Abstract

The article is devoted to the potential role of renewable energy in the grid of the future electricity generation and economic development in Nigeria. The article further observed that it is also important to examine the economics of a variety of potentially competing technologies including market demand, flexible generation, and improved operational practices of electricity in Nigeria. In addition, while there are clear benefits of using energy storage to enable greater penetration of natural resources, it is important to consider the potential role of renewable energy in relation to the needs and demands of the electricity in Nigeria. Nigeria, which gained sovereignty since October 1, 1960 did not have its own stable electricity. Hence, the article is concentrated on renewable energy as a source of sustainable electricity and economic development. The authors were interested in renewable energy due to the huge demand of electricity in Nigeria and at large, in Africa. The natural resources have no limits to human environment or space (surface). Hence, the article attempts to find solution to the problem of electricity through renewable energy. The article further emphasizes on the important use of natural resources for building modern economy and technology advancement. The article discusses the importance of renewable energy and energy demand for electricity generation as a factor of diversification of national economy. Significant place is given to the interdependence of the renewable energy with the needs of sustainable electricity generation and economic development.

Suggested Citation

  • Ekpobodo Raymond Ovwigho & Yuri Chepurko & Oleg Y. Kazenkov & Dmitrii N. Ermakov & Sinivie Progress Onini & Bashir Aliyu Yauri, 2020. "Renewable Energy in Sustainable Electricity and Economic Development: The Case of Nigeria," International Journal of Energy Economics and Policy, Econjournals, vol. 10(1), pages 165-169.
    • Handle: RePEc:eco:journ2:2020-01-25
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    References listed on IDEAS

    as
    1. Alam, M. Shahid, 2006. "Economic Growth with Energy," MPRA Paper 1260, University Library of Munich, Germany.
    2. Oyedepo, Sunday Olayinka, 2012. "On energy for sustainable development in Nigeria," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(5), pages 2583-2598.
    3. James G. March, 1991. "Exploration and Exploitation in Organizational Learning," Organization Science, INFORMS, vol. 2(1), pages 71-87, February.
    4. Stern, David I., 1997. "Limits to substitution and irreversibility in production and consumption: A neoclassical interpretation of ecological economics," Ecological Economics, Elsevier, vol. 21(3), pages 197-215, June.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

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    2. Xiaoyu Liu & Jahan Ara Peerally & Claudia De Fuentes & David Ince & Harrie Vredenburg, 2022. "Who Makes or Breaks Energy Policymaking in the Caribbean Small Island Jurisdictions? A Study of Stakeholders’ Perceptions," Sustainability, MDPI, vol. 14(3), pages 1-19, February.

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    More about this item

    Keywords

    Renewable energy; Energy; Sustainable electricity; Economic development;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q47 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy Forecasting
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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