Open AccessPerceptions of Energy Resources Efficiency for Sustainable Development in the Developing Context of Nigeria: Implications for Enterprise Development in the Energy Sector
Author(s) -
Lukman Raimi,
Rabiu Olowo
Publication year - 2022
Publication title -
iop conference series. earth and environmental science
Language(s) - English
Resource type - Journals
eISSN - 1755-1307
pISSN - 1755-1315
DOI - 10.1088/1755-1315/997/1/012009
Subject(s) - context (archaeology) , environmental economics , developing country , efficient energy use , business , sustainable development , energy security , livelihood , inefficiency , energy engineering , environmental resource management , economic growth , natural resource economics , economics , renewable energy , engineering , political science , agriculture , paleontology , ecology , law , electrical engineering , biology , microeconomics
Energy resources are indispensable to humans, animals, and plants. From the perspective of energy economics, energy efficiency has a high propensity to stimulate a development process that is environmentally, economically, and socially sustainable. Most developed countries are known to have attained energy efficiency, but the developing countries arguably still contend with energy inefficiency. In view of the foregoing, this study investigates the perceptions of energy resources efficiency for sustainable development in the developing context of Nigeria including implications for enterprise development in the energy sector. The study adopts a quantitative research method, a positivist research paradigm in order to generate fact-based information from energy users in the developing context. A sample of 400 respondents that comprised academics, professionals, business owners, policymakers, and activists working with the non-governmental organisations (NGOs) was selected, but 154 finally participated. The first finding reveals that Nigeria has eleven (11) energy resources, but the energy resource with the highest efficiency perception is fuel-wood and the least efficient is hydropower when measured in terms of stability, delivery system, reliability, resource mix, security, livelihood, and safety of energy products to the energy users. The second finding suggests that energy resources efficiency (EFF) exerts significant positive effect on the triple dimensions of sustainable development (ECS, SOS, and EVS) in the developing context of Nigeria, but the predictability is weak (42.6%, Adjusted R2). An indication that more rigorous study in required. The study contributes to the debates on energy resources efficiency and three pillars of sustainable development from the developing country context. In practical terms, the study supports and validates the X-Efficiency theory (XET) and the Resource Curse Theory (RCT).