0704-883-0675     |      dataprojectng@gmail.com

ANALYSIS OF THE PRICE AND INCOME ELASTICITIES OF ENERGY DEMAND IN NIGERIA. (1980-2019)

  • Project Research
  • 1-5 Chapters
  • Abstract : Available
  • Table of Content: Available
  • Reference Style: APA
  • Recommended for : Student Researchers
  • NGN 5000

ABSTRACT

This study estimated price and income elasticities of energy demand in Nigeria. The objective of the study was to examine the responsiveness of demand for energy to changes in price of energy and per capita income in Nigeria. The demand for petroleum product (gasoline and diesel), proxy for energy demand is the dependent variable, while weighed average price for energy demand and per capita income are the independent variable. The study adopted regression analysis and vector error correction model to dichotomize the short run and long run in price and income of energy demand in Nigeria, using annual time series data over a period of 1980-2019. The cointegration test revealed that there is significant long run relationship between energy demand, price and per capita income. the result of regression analysis showed that the price and income elasticity of energy demand are moderately inelastic in the short run while the long run elasticities indicate that price and income responsiveness to demand are relatively elastic. The policy implication is that demand side management, through price change will be ineffective in influencing the demand for energy in short run. Therefore, any policy effort on the part of government to manage energy demand should focus on supply side and long term policy impact on the aggregate economy that has the potential of affecting the overall economic activity and aggregate income




FIND OTHER RELATED TOPICS


Related Project Materials

An Investigation of Nurses' Role in Reducing Hospital-Acquired Infections in Lagos University Teaching Hospital

Background of the Study

Hospital-acquired infections (HAIs), also known as nosocomial infections, are i...

Read more
An examination of online banking security measures on reducing cyber risks in finance: a case study of Citibank Nigeria

Background of the Study

Online banking security measures are critical in safeguarding financial institutions against cyber risks, which h...

Read more
The Influence of Romantic Drama on Relationship Expectations in Gwarzo Local Government Area, Kano State

Chapter One: Introduction

1.1 Background of the Study

Investigating the Effectiveness of Radio Call-In Programs on Public Opinion in Ankpa LGA, Kogi State

Chapter One: Introduction

1.1 Background of the Study
Radio remains one of the most effective ma...

Read more
The Impact of Physical Inactivity on the Prevalence of Metabolic Syndrome in Borno State

Background of the Study

Metabolic syndrome, a cluster of conditions including obesity, hypertension,...

Read more
TACKLING COMPLEXITIES IN MATERNAL CARE USING AN E-HEALTH SOLUTION (A CASE STUDY OF DOCTOR-PATIENT RELATIONSHIP AT FEDERAL MEDICAL CENTER, YOLA)

ABSTRACT

The rate of maternal mortality in the recent time is so alarming due to weak health systems, poor doctor-patient relationship, a...

Read more
An appraisal of educational material quality in early childhood classrooms in Garki Local Government Area, Kaduna State

Background of the Study
Quality educational materials are fundamental to the success of early childhood e...

Read more
Optimization of 3D-Printed Models for Enhancing Practical Engineering Education at Federal University, Lokoja, Kogi State

Background of the study
Practical engineering education relies on tangible models and hands-on experiences to reinforce the...

Read more
DESIGN AND IMPLEMENTATION OF AN ONLINE DRIVING SCHOOL MANAGEMENT SYSTEM

Abstract

With the rapid development in technology, there is a need to develop a management system for drive-training enterprise. Driving-...

Read more
Barriers to Accounting Information System Adoption in Public Health Institutions in Bida Local Government Area

Background of the Study

Public health institutions play a vital role in the well-being of communities,...

Read more
Share this page with your friends




whatsapp