Deteriorating nature experienced in the level of economic activities in Nigeria is evident in most sectors of the economy, including the tourism sector. But there is a need to develop the tourism industry because of its potentials for job creation, and the Nigerian government should make vital efforts to diversify the economy from oil production to other viable sectors in order to create wealth for the nation. Against this backdrop, this study examined the interaction effect of tourism and foreign exchange earnings from the tourism industry on economic growth in Nigeria. The study engaged time series data sourced from the World Development Indicators for the period 1980–2016 and employed the fully modified ordinary least squares (FMOLS) and Johansen cointegration econometric technique of analysis. The empirical results from the FMOLS showed that revenue generated from tourism have a significant and positive effect on Nigeria’s economic growth; the interaction effect of tourism and foreign exchange earnings on economic growth in Nigeria is positive which implies that an increase in the tourism and foreign exchange earnings will lead to an increase in economic growth. Thus, based on these findings, the study recommended that as a matter of priority, the Nigerian government should encourage diversification through tourism promotion to achieve the desired level of economic growth and ensure that foreign exchange earnings from tourism transmits to the improvement of amusement parks and recreational centres which will significantly open new opportunities for tourism patronage and hence boost economic growth.
Increase in the global population growth has led to a simultaneous increased in demand for energy leading to increased fear of global warming. This situation has given the international community a cause for concern and as a result, countries are seeking alternative sources for cleaner and sustainable energy. The importance of utilising greener energy sources is evident in the United Nation's Sustainable Development Goals (SDGs), especially Goal 7, Target 2. This study examined the long-run relationship between economic growth, sustainable energy and the different financing options for sustainable energy in Nigeria. The Johansen Cointegration test was utilised in order to achieve this objective. The findings showed that different sources of sustainable energy and the different types of financing employed in Nigeria have different effects on the economic growth of Nigeria. A long-run relationship amongst all three variables was also established. These findings are an indication that with the right policies, SDG 7 could be achieved.
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