Impact Analysis on the Effective Synergy Between Climate Change, Ecological Degradation and Energy Consumption on Economic Growth in Nigeria

Abstract

There is growing global concern about the unpredictable nature of climate change and rapid ecological degradation, which has emanated from quest to enhance economic growth in many parts of the world. In spite of the potential offered by green energy, developing economies such as Nigeria are lagging behind in the application of renewable energy. The synergic impact of climate change, ecological degradation and some key macroeconomic variables remains partially unexplored. Considering this gap in the literature, the objective of the study is to examine the impact of climatic change, ecological degradation, population growth and energy consumption on economic growth in Nigeria. The dynamic impacts of these key variables were analyzed using the Autoregressive Distributed Lag model. While the bounds test results indicated that the variables are co-integrated, bidirectional causal flows were identified between economic growth, energy consumption, population growth, and climatic change. However, unidirectional relations exist running from ecological degradation to economic growth, as well as from population to economic growth. The study further found that climate change and ecological degradation are mutually reinforcing one another as a bidirectional causal relation was detected among the two variables. In this sense, it can be concluded that population growth, energy consumption, and ecological degradation are key contributors to sustainable growth that will reduce the threat of climate change. As such, there is a strong need for Nigeria to strengthen its environmental regulatory institutions to initiate a paradigm shift from conventional to renewable energy. This will reduce ecological degradation and enhance environmentally-friendly economic growth.

Flood Policy and Governance: A Pathway for Policy Coherence in Nigeria

“…In order to promote long-term, human-centered, and resilient flood recovery, it is important to build synergies between the flood plan of action and disaster risk reduction. For Nigeria to achieve an effective flood-disaster management policy, political and legal commitment was required, public awareness, scientific knowledge was required, careful planning for development was necessary, policies and legislation were enforced responsibly, early warning systems were essential, and disaster response mechanisms were essential [132,133].…”

Do Tourism Development and Globalization Reinforce Ecological Footprint? Evidence From RCEP Countries

“…A possible explanation is that the impact of GDP on the environment depends on each country or area’s macroeconomic policies (e.g., government effectiveness, the stringer of environmental regulations). A large number of empirical studies and economists agree that GDP positively drives environmental problems (Ahmed, Zafar, et al, 2020; Alola et al, 2019; Birnintsaba et al, 2021; Nathaniel et al, 2020; Nathaniel & Khan, 2020), while a few works find a negative impact (Hassan et al, 2019; Usman et al, 2020) or even insignificant (Baz et al, 2020). More specifically, Ahmed, Zafar, et al (2020) employed the CUP-FM and the CUP-BC approaches to determine factors of environmental degradation in G7 countries.…”

Flood Policy and Governance: A Pathway for Policy Coherence in Nigeria

“…In order to minimise the risk of weather disasters, government agencies, particularly those responsible for disaster management, need to work together in synergy. NiMet recognizes the importance of synergies between disaster and climate related organizations and partnered with some federal and state institutions, including the Nigerian Maritime Administration and Safety Agency (NIMASA), the Federal Ministry of Agriculture and Rural Development (FMARD), as well as nongovernmental organizations like Human and Environmental Development Agenda (HEDA), Agro-Processing, Agricultural Productivity Enhancement and Livelihood Improvement Support (APPEALS), International Fund for Agricultural Development (IFAD), Value Chain Development Programme (VCDP), and Livelihood Improvement Family Enterprises Project for the Niger Delta (LIFE-ND), as well as state airports like Asaba and Anambra [134]- [135]. By working together, institutions can enhance coordinated disaster management, reducing risk, controlling and managing floods, reducing costs, and enhancing opportunities for growth in Nigeria.…”