Opinions differ on the right solutions to inflation in Nigeria. This is due mainly to the fact that while a school of thought sees inflation as a fundamental monetary phenomenon, another school sees it as structural. This paper examined the structural aspect. Structural factors in Nigeria as principal causes of inflation were identified. These structural factors were grouped together under budget deficits, external reserves, and the level of the Nigerian economy (represented by the GDP). Using data on these variables for 32 years (1977-2008), and analyzing them with Co-integration and Error Correction Model (ECM), it was found that inflation is 77% affected by structural variables and that the Nigerian economy, as expected, is negatively correlated to inflation while budget deficits and external reserves are positively correlated. All the variables are significant at 5% significant level. The policy implication of the finding is that the supply management of curbing inflation cannot be ignored in tackling inflation in Nigeria.
Covid-19 pandemic lockdown has slowed down the world economic system. The pandemic has cleared the roads, close factories and grounded planes causing severe economic challenges. The damaging impact of the pandemic amid lockdown has been a blessing in guise for the environment because of significant drop in pollution level as transport and industrial sectors shutdown. Transport and industrial sectors are major contributors to environmental degradation through various emissions as a result of fossil fuel consumption. Energy consumed by transport and industrial sectors will have to shift to viable, readily available, clean, storable, economically and environmentally friendly with no carbon build up post Covid-19 pandemic. Hydrogen energy remains the best alternative option technologies containing greenhouse gas emission and pollutions of several forms. Hydrogen holds the potential to provide a clean, reliable, renewable and economical source of energy for meeting the growing and unending global energy needs post pandemic. The present paper explores prospect of hydrogen gas energy to serve as a competitive fuel option post pandemic and the economic feasibility. In this paper, the role of hydrogen as an energy carrier, hydrogen economy structure, potential of hydrogen economy, hydrogen production methods, hydrogen application and the economic and environmental significance of hydrogen as a viable fuel option post Covid-19 pandemic were thoroughly discussed. There will be a surge in demand and investment for hydrogen economy post Covid-19 to achieve decarbonization of transport and industrial sectors.
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