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Carbon Dioxide Emissions from Energy Consumption, Foreign Direct Investment and Economic Growth in Nigeria: A Multivariate Causal Analysis

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  • Ogunjobi, Joseph Olufemi

    (Department of Economics, Landmark University, Omu-Aran, Kwara State, Nigeria)

  • Ogunjumo, Rotimi Ayoade

    (Department of Economics, Landmark University, Omu-Aran, Kwara State, Nigeria; & Landmark University SDG 8 Research Group, Landmark University, Omu-Aran, Kwara State, Nigeria)

  • Ibitowa, Stephen Adesina

    (Department of Economics, Landmark University, Omu-Aran, Kwara State, Nigeria; & Landmark University SDG 8 Research Group, Landmark University, Omu-Aran, Kwara State, Nigeria)

Abstract

The relationship among Nigeria's CO2 emissions, foreign direct investment inflows, and economic growth was examined in this study. The data period examined is from 1990 to 2020. The data is obtained from the World Bank's online database and adopted the VECM-based Granger causality technique. Results showed a feedback relationship between FDI inflows and CO2 emissions as well as a unidirectional causal relationship from economic growth to CO2 emissions. The information offered by these empirical studies will help policymakers develop effective economic policies.

Suggested Citation

  • Ogunjobi, Joseph Olufemi & Ogunjumo, Rotimi Ayoade & Ibitowa, Stephen Adesina, 2024. "Carbon Dioxide Emissions from Energy Consumption, Foreign Direct Investment and Economic Growth in Nigeria: A Multivariate Causal Analysis," International Journal of Energy Economics and Policy, Econjournals, vol. 15(1), pages 513-518, December.
    • Handle: RePEc:eco:journ2:v:15:y:2024:i:1:id:18118
    DOI: 10.32479/ijeep.18118
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