ENERGY PRICE FLUCTUATIONS AND ECONOMIC INEQUALITY IN NIGERIA

Författare

  • Ijeoma Blessing Unachukwu Department of Economics Education, School of Arts and Social Sciences, Federal College of Education (Technical), Umunze, Anambra State, Nigeria
  • Chinasa Ifeoma Obi Department of Economics, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria
  • Veronica Nosike Ebele Department of Economics Education, School of Arts and Social Sciences, Federal College of Education (Technical), Umunze, Anambra State, Nigeria
  • Stephen Chidozirim Anukam Department of Cooperative and Rural Development, University of Agriculture and Environmental Science, Umuagwo, Imo State, Nigeria

DOI:

https://doi.org/10.46827/ejefr.v9i4.2043

Nyckelord:

energy price, economic inequality, Nigeria

Abstract

The study examined the role of energy price fluctuations in widening economic inequality across generations in Nigeria from 1985 to 2023 using data from the Central Bank of Nigeria (CBN) Statistical Bulletin, World Development Indicators, International Energy Agency and Worldwide Governance Indicators (2023) publications. Economic inequality served as the dependent variable, while oil price, gas price, expenditure on social welfare and control of corruption were utilized as the explanatory variables. The Augmented Dickey Fuller (ADF) test was used to ascertain the stationarity of the model, and it was discovered that the variables were integrated at first difference, I(1). Consequently, the Johansen co-integration test was employed to ascertain the long-run relationship of the variables. The results from both the Trace statistics and Max-Eigen statistics showed that there was no co-integration, hence establishing no long-run relationship between energy price fluctuations variables and economic inequality in Nigeria. The econometric diagnostics utilized the GARCH model, and the findings of the study do not provide strong evidence that energy price fluctuations significantly influence economic inequality across generations in Nigeria. It is therefore recommended that exploring alternative factors may provide insights into the drivers of economic inequality in Nigeria, even if energy price fluctuations do not show a significant direct impact.

 

JEL: C22, C82, H2, H24, H24

 

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Författarbiografier

  • Ijeoma Blessing Unachukwu, Department of Economics Education, School of Arts and Social Sciences, Federal College of Education (Technical), Umunze, Anambra State, Nigeria

    Dr. Ijeoma Blessing Unachukwu is a lecturer in the Department of Economics Education at Federal College of Education (Technical), Umunze. She holds her Bachelor's degree (Bsc) in Economics from Anambra State University, now COOU, holds her Master’s of Science (Msc) in Economics from Imo State University and her PhD in Economics at Chukwuemeka Odumegwu Ojukwu University.  She is a researcher and has published many papers in many reputable journals, both local and international. She is currently the Head of Department in the Economics department at Federal College of Education (Technical).

  • Chinasa Ifeoma Obi, Department of Economics, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria

    Dr. Chinasa Ifeoma Obi is a lecturer in the Department of Economics at Nnamdi Azikiwe University, Awka, Anambra State. She holds a Bachelor's degree (BSc) in Economics from Nnamdi Azikiwe University, a Postgraduate Diploma (PGD) in Economics from Nnamdi Azikiwe University, a Master's degree (MSc) in Economics from Chukwuemeka Odumegwu Ojukwu University, and a PhD in Economics from the same institution. She is an active member of the Nigerian Economic Society (NES) and the Nigerian Economic Society of Female Professionals (NESFP).

  • Veronica Nosike Ebele, Department of Economics Education, School of Arts and Social Sciences, Federal College of Education (Technical), Umunze, Anambra State, Nigeria

    Ebele Veronica Nosike is a lecturer in the Department of Economics Education at Federal College of Education (Technical), Umunze. She holds her Bachelor's degree (B.Sc) in Economics from Nnamdi Azikiwe University Awka, Anambra State, holds her Master’s of Science (MSc) in Economics from Imo State University Owerri, and is currently pursuing her PhD in Economics (Public Sector and Finance) at Imo State University Owerri. She is a researcher and has published many papers in many reputable journals, both local and international. 

  • Stephen Chidozirim Anukam, Department of Cooperative and Rural Development, University of Agriculture and Environmental Science, Umuagwo, Imo State, Nigeria

    Anukam Chidozirim Stephen (PhD) is a committed academic, economist, and devoted Catholic who demonstrates a profound dedication to education and research. Hailing from Owalla Uratta in the Owerri North Local Government Area of Imo State. His educational path commenced at Community Primary School, Owalla and Uratta Secondary School, both located in Uratta, Owerri North, Imo State. He followed his enthusiasm for economics at the tertiary level, achieving a Bachelor of Science (B.Sc.) degree in Economics from the esteemed Imo State University, Owerri, in Imo State. Subsequently, she earned a Master of Science (M.Sc.) degree in Economics from Imo State University and ultimately obtained his Doctorate of Philosophy (PhD) in Development Economics Sector, Imo State University, Owerri. Dr. Anukam Chidozirim Stephen serves as a respected lecturer at the University of Agriculture and Environmental Sciences, Umuagwo, Imo State, where he shares his knowledge with the upcoming generation of leaders. He skillfully integrates his teaching responsibilities with active academic research, providing significant contributions to his discipline. In addition to his professional achievements, Dr. Anukam Chidozirim Stephen is happily married and is successfully managing a rewarding family life alongside a flourishing and influential career, achieved by hard work.

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Nedladdningar

Publicerad

2025-09-22

Nummer

Vol 9 Nr 4 (2025)

Sektion

Articles