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Energy Demand and Cooking Energy Cost in an Oil-Rich Economy: A New Evidence from Nigeria

Author

Listed:
  • Orji Anthony

    (Department of Economics, University of Nigeria, Nsukka, Nigeria)

  • Ogwu Stephen Obinozie

    (University of Nigeria,Nsukka, Nigeria)

  • Mba Peter Nwachukwu

    (Department of Economics, University of Calabar, Nigeria)

  • Anthony-Orji Onyinye Imelda

    (Department of Economics, University of Nigeria, Nsukka, Nigeria)

Abstract

According to several recent studies, energy is seen as a commodity, due to the fact that energy sector markets are more like commodity markets. Essentially, it serves as an enabler of social and economic development and so cannot be neglected. This study, therefore, estimated the impact of cooking energy cost on energy demand in Nigeria using the ARDL model and quarterly data spanning from 1990-2018. The result from the study showed that in the long-run both liquefied petroleum gas (LPG) price and kerosene price has a negative impact on energy demand. In the short-run, the result remained the same for kerosene while it reversed for LPG. The study, therefore, recommended that government should enact policies that will moderate or minimize the cost of cooking energy and enhance the removal of all forms of barriers in making cooking energy affordable to users in the country.

Suggested Citation

  • Orji Anthony & Ogwu Stephen Obinozie & Mba Peter Nwachukwu & Anthony-Orji Onyinye Imelda, 2021. "Energy Demand and Cooking Energy Cost in an Oil-Rich Economy: A New Evidence from Nigeria," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 31(1), pages 1-21, March.
    • Handle: RePEc:vrs:suvges:v:31:y:2021:i:1:p:1-21:n:1
    DOI: 10.2478/sues-2021-0001
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    Citations

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    Cited by:

    1. Agubata Nonye Stella & Okolo Livinus Ikenna & Ogwu Stephen Obinozie, 2022. "Effect of Employee Benefits on Organizational Growth of Consumer Goods Firms in Nigeria," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 32(3), pages 116-137, September.
    2. Anne C. Maduka & Stephen O. Ogwu & Chukwunonso S. Ekesiobi, 2022. "Assessing the Moderating Effect of Institutional Quality on Economic Growth - Carbon Emission Nexus in Nigeria," Working Papers of the African Governance and Development Institute. 22/023, African Governance and Development Institute..
    3. Young Ademola Obafemi, 2022. "Specialization Versus Diversification as Alternative Strategies for Sustainable Growth in Resource-Rich Developing Countries. Case of Nigeria," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 32(3), pages 1-47, September.

    More about this item

    Keywords

    Energy; Cost; Demand;
    All these keywords.

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • R22 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Other Demand

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