Nigeria's Fossil Fuel Energy Consumption-Gdp Relation and Its Effect on National Hdi:2005-2022

dc.authorscopusid 59310800000
dc.authorscopusid 59310800100
dc.authorscopusid 59300137400
dc.contributor.author Oyejide,O.
dc.contributor.author Akindele,G.
dc.contributor.author Efemena,O.
dc.date.accessioned 2024-10-15T19:42:48Z
dc.date.available 2024-10-15T19:42:48Z
dc.date.issued 2024
dc.department Kadir Has University en_US
dc.department-temp Oyejide O., Kadir Has University, Energy and Sustainable Development, Istanbul, Turkey; Akindele G., Kadir Has University, ElectronicsEngineering, Istanbul, Turkey; Efemena O., Achievers University, Department of Geological Sciences, Owo, Nigeria en_US
dc.description.abstract The correlation between energy usage and economic growth is widely acknowledged. The placement within the dynamics of Nigeria's economic growth and fossil fuel usage is evaluated in this paper. Retrieved and processed data from reliable databases, such as "Our World in Data"and THE WORLD BANK, covering the years 2005 to 2022, were used to analyze the following: percentage of total primary energy consumption (fossil fuel), percentage of consumption per capita, percentage of total Gross Domestic Product (GDP), percentage of GDP per capita, and overall Human Development Index (HDI). The results showed fluctuations in GDP growth rates in tandem with stable energy consumption, a continuous reliance on fossil fuels in the face of a slow but steady rise in the HDI, and economic difficulties in certain years in spite of stable energy consumption. In contrast to predictions, the country's HDI, which has been rising steadily over time, was mostly unaffected by the non-linear link between GDP and fossil fuel usage. The study also showed variations in Adjusted Net Savings, indicating the unpredictability of the country's energy sector in the face of political and economic unpredictability. Notwithstanding these obstacles, the HDI showed a slow but noticeable improvement, suggesting that the income and savings Nigeria's petroleum resources provide to its population are not very beneficial. Considering the findings, policy-based recommendations were also offered. © 2024 IEEE. en_US
dc.identifier.citationcount 0
dc.identifier.doi 10.1109/SEB4SDG60871.2024.10630368
dc.identifier.isbn 979-835035815-5
dc.identifier.scopus 2-s2.0-85202936875
dc.identifier.uri https://doi.org/10.1109/SEB4SDG60871.2024.10630368
dc.identifier.uri https://hdl.handle.net/20.500.12469/6594
dc.language.iso en en_US
dc.publisher Institute of Electrical and Electronics Engineers Inc. en_US
dc.relation.ispartof International Conference on Science, Engineering and Business for Driving Sustainable Development Goals, SEB4SDG 2024 -- 2024 International Conference on Science, Engineering and Business for Driving Sustainable Development Goals, SEB4SDG 2024 -- 2 April 2024 through 4 April 2024 -- Omu-Aran -- 201895 en_US
dc.relation.publicationcategory Konferans Öğesi - Uluslararası - Kurum Öğretim Elemanı en_US
dc.rights info:eu-repo/semantics/closedAccess en_US
dc.scopus.citedbyCount 1
dc.subject economic growth en_US
dc.subject fossil fuel en_US
dc.subject human development index en_US
dc.subject Nigeria petroleum en_US
dc.subject primary energy en_US
dc.title Nigeria's Fossil Fuel Energy Consumption-Gdp Relation and Its Effect on National Hdi:2005-2022 en_US
dc.type Conference Object en_US
dspace.entity.type Publication

Files