Energy Demand and Cooking Energy Cost in an Oil-Rich Economy: A New Evidence from Nigeria
According to several recent studies, energy is seen as a commodity, due to the fact that energy sector markets are more like commodity markets. Essentially, it serves as an enabler of social and economic development and so cannot be neglected. This study, therefore, estimated the impact of cooking e...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Sciendo
2021-03-01
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| Series: | Studia Universitatis Vasile Goldis Arad, Seria Stiinte Economice |
| Subjects: | |
| Online Access: | https://doi.org/10.2478/sues-2021-0001 |
| _version_ | 1811215110733037568 |
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| author | Orji Anthony Ogwu Stephen Obinozie Mba Peter Nwachukwu Anthony-Orji Onyinye Imelda |
| author_facet | Orji Anthony Ogwu Stephen Obinozie Mba Peter Nwachukwu Anthony-Orji Onyinye Imelda |
| author_sort | Orji Anthony |
| collection | DOAJ |
| description | According to several recent studies, energy is seen as a commodity, due to the fact that energy sector markets are more like commodity markets. Essentially, it serves as an enabler of social and economic development and so cannot be neglected. This study, therefore, estimated the impact of cooking energy cost on energy demand in Nigeria using the ARDL model and quarterly data spanning from 1990-2018. The result from the study showed that in the long-run both liquefied petroleum gas (LPG) price and kerosene price has a negative impact on energy demand. In the short-run, the result remained the same for kerosene while it reversed for LPG. The study, therefore, recommended that government should enact policies that will moderate or minimize the cost of cooking energy and enhance the removal of all forms of barriers in making cooking energy affordable to users in the country. |
| first_indexed | 2024-04-12T06:16:59Z |
| format | Article |
| id | doaj.art-40a610f5fa28477bb24d5967b0a105ed |
| institution | Directory Open Access Journal |
| issn | 1584-2339 2285-3065 |
| language | English |
| last_indexed | 2024-04-12T06:16:59Z |
| publishDate | 2021-03-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Studia Universitatis Vasile Goldis Arad, Seria Stiinte Economice |
| spelling | doaj.art-40a610f5fa28477bb24d5967b0a105ed2022-12-22T03:44:27ZengSciendoStudia Universitatis Vasile Goldis Arad, Seria Stiinte Economice1584-23392285-30652021-03-0131112110.2478/sues-2021-0001Energy Demand and Cooking Energy Cost in an Oil-Rich Economy: A New Evidence from NigeriaOrji Anthony0Ogwu Stephen Obinozie1Mba Peter Nwachukwu2Anthony-Orji Onyinye Imelda3Department of Economics, University of Nigeria, Nsukka, NigeriaUniversity of Nigeria,Nsukka, NigeriaDepartment of Economics, University of Calabar, NigeriaDepartment of Economics, University of Nigeria, Nsukka, NigeriaAccording to several recent studies, energy is seen as a commodity, due to the fact that energy sector markets are more like commodity markets. Essentially, it serves as an enabler of social and economic development and so cannot be neglected. This study, therefore, estimated the impact of cooking energy cost on energy demand in Nigeria using the ARDL model and quarterly data spanning from 1990-2018. The result from the study showed that in the long-run both liquefied petroleum gas (LPG) price and kerosene price has a negative impact on energy demand. In the short-run, the result remained the same for kerosene while it reversed for LPG. The study, therefore, recommended that government should enact policies that will moderate or minimize the cost of cooking energy and enhance the removal of all forms of barriers in making cooking energy affordable to users in the country.https://doi.org/10.2478/sues-2021-0001energycostdemandq41r22 |
| spellingShingle | Orji Anthony Ogwu Stephen Obinozie Mba Peter Nwachukwu Anthony-Orji Onyinye Imelda Energy Demand and Cooking Energy Cost in an Oil-Rich Economy: A New Evidence from Nigeria Studia Universitatis Vasile Goldis Arad, Seria Stiinte Economice energy cost demand q41 r22 |
| title | Energy Demand and Cooking Energy Cost in an Oil-Rich Economy: A New Evidence from Nigeria |
| title_full | Energy Demand and Cooking Energy Cost in an Oil-Rich Economy: A New Evidence from Nigeria |
| title_fullStr | Energy Demand and Cooking Energy Cost in an Oil-Rich Economy: A New Evidence from Nigeria |
| title_full_unstemmed | Energy Demand and Cooking Energy Cost in an Oil-Rich Economy: A New Evidence from Nigeria |
| title_short | Energy Demand and Cooking Energy Cost in an Oil-Rich Economy: A New Evidence from Nigeria |
| title_sort | energy demand and cooking energy cost in an oil rich economy a new evidence from nigeria |
| topic | energy cost demand q41 r22 |
| url | https://doi.org/10.2478/sues-2021-0001 |
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