The Role of Natural Gas In Nigeria’ Economic Development Calculus: Some Simple Empirics.
Journal Title: IOSR Journal of Economics and Finance (IOSR-JEF) - Year 2018, Vol 9, Issue 3
Abstract
The fact that the Nigerian economy depends critically and precariously on hydrocarbon resources, therefore, makes imperative to illuminate and x-ray the importance of natural gas to the development of the Nigerian economy. Against this background, the study examines empirically the role of natural gas in the economic development calculus of Nigeria. The main objective of this study is to provide a framework for understanding the larger economic role of gas at a time when issues of employment and investment are so critical in a traumatized national economy in Nigeria. For us to achieve the above objective the following questions are germane: what is the impact of natural gas revenue on real GDP per capita in Nigeria? What is the relationship between natural gas revenue and economic development? What has been the impact of natural gas on electricity generation? What more is needed to be done for natural gas development to continue to be one of the key drivers in achieving sustained economic growth and inclusive development in Nigeria? The study adopted the political economy in the context of theoretical and descriptive analysis to x-ray the issues that are germane to the study. Findings revealed that the gas is very important to the Nigerian economy and that for strategic reasons Nigeria should continue to develop her gas resources. The study recommends further investments be made in the gas sector by funding trains 7 and 8 of the NLNG. Other gas projects should be embarked upon such as the Brass LNG and Olokola LNG. Policies that are environmental friendly should be enacted.
Authors and Affiliations
Abiodun Edward Adelegan
Keywords
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- EP ID EP414643
- DOI 10.9790/5933-0903011321.
- Views 182
- Downloads 0
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