The Nexus between Energy pricing, Investment Financing and Economic Growth in Nigeria
AbstractThis paper attempted to descriptively analyze the nexus between energy pricing and investment finance as it relates to other potential economic variables required for the transformation of the Nigerian economy. The paper also make a comparative analysis of how such chosen macroeconomic variables such as FDI, HCI, Public investment, RGDP, Private investment, etc behave before and after democracy to determine the period where energy pricing, investment and financing and other macroeconomic variables impacted positively on the economy as a means of enhancing the standard of living of the ordinary Nigerian, their health status, infrastructural facilities like power etc. The study also uses the Error Correction Method(ECM) for analyzing the relationship among this macroeconomic variables to find out if there is a positive or negative unidirectional causal nexus from energy pricing, investment and finance. While a negative unidirectional nexus exist from inflation and the rate of interest, hence the result shows that energy pricing impacts positively on investment and finance. However, recommendations has been proffer for policy makers and the stakeholders, which if adequately implementated will enhance efficient and effective management of Nigeria energy and investment finance with the broad aim of transforming the economy and positioning it for global relevance.
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