Modeling the determinants of renewable energy consumption: Evidence from the five most populous nations in Africa
Aurthors: Olalekan J. Akintande; Olusanya E.Olubusoye; Adeola Adenikinju, & Busayo T. Olanrewaju
Abstract:
The increasing concern over global warming and energy security has rejuvenated the renewable energy option as the most vibrant option to sustaining future energy needs. This paper developed a renewable energy consumption model using annual data spanning between 1996 and 2016 in the five most populous countries (Ethiopia, South Africa, Nigeria, DR Congo, and Egypt) in Africa. Following the existing literature on the subject, the driving factors investigated were categorized into three broad areas. These include macroeconomic, socioeconomic, and institutional variables. Altogether, thirty-four predictor variables are analyzed. The study employed Bayesian Model Averaging (BMA) procedures to account for the uncertainty associated model choice and variable selection. The results of the analysis indicate that population growth, urban population, energy use, electric power consumption, human capital are the main determinants of renewable energy consumption in the selected countries. Also, an increase in any of these determinants (population growth, urban population, energy demand/use, electricity power demand/consumption) causes an increase in renewable energy consumption.
Datasets on how misinformation promotes immune perception of COVID-19 pandemic in Africa
Aurthors: Olalekan J. Akintande & Olusanya E.Olubusoye
Abstract:
The dataset investigates the magnitude of the misinformation content influencing scepticisms about the novel COVID-19 pandemic in Africa. The data is collected via an electronic questionnaire method and twenty-one Africa countries randomly participated. Responses were received from all the five regions of Africa. The data is structured to identify some leading misinformation been propagated in the media. For data, in brief, we performed a descriptive analysis of the data and also examine the degree of each selected misinformation contents on the immune perception of respondents using Confirmatory Factor Analysis. Another research can use the dataset to investigate how misinformation and religion misconception promote ignorance about disease or pandemic in Africa or the dataset could serve as supplementary material for further investigation of COVID-19 pandemic in Africa.
A panel data analysis of renewable energy consumption in Africa
Aurthors: Busayo T. Olanrewaju; Olusanya E.Olubusoye; Adeola Adenikinju & Olalekan J. Akintande
Abstract:
The increasing global demand for energy security and sustainable development necessitated the need for a paradigm shift from fossil fuel energy sources to renewable energy sources in Africa. There is a dearth of information on the current pattern of renewable energy consumption as well as its key drivers in Africa. This study was therefore designed to investigate the determinants of renewable energy consumption in Africa, with a view to understanding the current pattern and its potential determinants.
The study employed the panel data analysis involving five most populous and biggest economy in each of the five regions of Africa namely; Nigeria (West), Egypt (North), Ethiopia (East), DR Congo (Central) and South Africa (Southern) and using annual data from 1990 to 2015. Empirical analysis involved the estimation of both fixed effects and random effects models, while the Hausman test was employed for selecting the appropriate panel model and was found to be significant at p ≤ 0.05.
Hausman test statistic value of 52.74 which was used to decide between fixed effects model and random effects model was found to be significant at 5%. The F-Statistic test value of 94.15 from the estimated fixed effect model was significant at 5%.
**Perspectives, Impacts and Policy Responses to Covid-19 Pandemic
Edited by:Adeola Adenikinju; Akin Iwayemi; Olusanya E. Olubusoye & Olugbenga A. Falode
i. Preface
ii. Acknowledgement
iii. About the Authors
iv. Introduction and Overview
Part 1: Covid-19 and Nigeria’s Economy
1. The Evolution and Spread of Covid-19 In Nigeria. Oluwaseun Oyeranti And Babajide Sokeye
2. Predictive Model of the Growth of Covid-19 Virus Under Different Scenarios. A.O. Falode And B. Onasanya
3. Theoretical Linkage and Channels of Transmission Between Covid-19 And Nigeria's Macroeeconomy. Aderoju Oyefusi
4. Analysis of Government Policy Responses to Covid-19 in Nigeria. Musibau Adetunji Babatunde
5. Covid-19 and the Nigeria Economy: Analyses of Impacts And Growth Projections. Olusanya Elisa Olubusoye And Ahamuefula Ephraim Ogbonna
6. Macroeconomic Impacts of Covid-19 on Nigeria. Adeola Adenikinju, Samuel Omenka, Henry Okodua And Abiola Akande
7. Macroeconomic Impacts of Covid-19 On Nigeria: A DSGE Approach. Alege Philip.O., Oye Queen Esther And Urhie Ese
8. Covid 19 And Nigeria's Agriculture and Food Security Sectors.Adegbenga E. Adekoya
9. Covid-19, Peace and Security in Nigeria. Isaac Olawale Albert
10. Covid-19 and Nigeria’s Power Sector. Afolabi Ojosu And Alexander Akolo
11. Covid-19: The Social and Gender Impact of the Outbreak. Patricia I. Ajayi
12. Covid 19 and Nigeria's Trade and Industrial Sectors. Olumuyiwa B Alaba
13. Covid-19 and Nigeria's Services Sector. Ayooluwa Adewole
14. Covid-19: Impact Analysis on the Oil and Gas Industry. Olugbenga Falode
15. Disruptions and Eruptions: Assessing the Impact of Covid on Higher Education in Nigeria. Samuel, Kayode M., Ogunjuyigbe, Ayodeji S. O. And Babalola, Jonathan O.
16. Covid 19 and Nigeria's Human Capital Sector. Akanni O. Lawanson
17. Covid-19 Pandemic and the Nigerian Financial Sector. Adebiyi, M. Adebayo
18. Coronavirus Disease (Covid-19) and the Informal Economy in Nigeria. Abiodun O. Folawewo
19. National Response to Covid-19 and the Question of Institutional Governance in Nigeria. Peter Kayode Oniemola
20. Covid-19 and the Nigerian Power Sector: Legal And Institutional Implications.Ayodele Oni
Part 2: Covid-19, Africa and Regional Perspectives
21. Covid-19: Analysis of African Countries Responses to a Disruptive And Destructive Virus. Iredele Ogunbayo, Nkechiyelu Oranye, Ebunoluwa Oyesina And Ayomide Olusola
22. Impact of Covid-19 on Economies of North African Countries. Bilal Khamri, Olusanya E. Olubusoye, Adeola Adenikinju
v23. Governments Policy Response to Coronavirus: Case Study of the Southern Africa Countries. Bbosa Robert
Part 3: Covid-19 and the Global Reponses
24. Commonalities in Policy Responses to Global Financial Crisis and the Covid-19 Pandemic.Temitope Laniran And Adeola Adenikinju
25. Covid-19 and the Nigerian Economy: Looking Ahead. Akin Iwayemi
**Perspectives, Impacts and Policy Responses to Covid-19 Pandemic II
Edited by:Adeola Adenikinju And Olusanya E. Olubusoye
i. Preface
ii. Acknowledgement
iii. About the Authors
iii. Introduction
Part 1: Covid-19: Western and Eastern African Regional Responses
1. Government Policy Response to Coronavirus: Case Study of West African Countries. Omega Selorm and Akorlor Ernestina
2. Covid-19 in Eastern Africa: Spread and Policy Response Towards Stabilization of Economy. Arthur Omondi Agutu
Part 2: Covid-19 and Nigeria’s Economy
3. Is Nigeria Winning the Battle Against Covid-19Anaba, Sylvester Anani
4. Strengthening Resilience of Nigeria's Health System Through Deployment of Renewable Energy. Oluwaseun Sodipe, John Afaha Sylvester, Olatunde Yewande, Idowu Oyeleke, Kehinde Bewaji
5. Effect of Covid-19 on the Nigerian Oil and Gas Industry and Impact on the Economy. John Sylvester Afaha, Esther Alalade Aderinto, Ebenezer A. Oluwole, Adewale Oyinlola, Yusuf Akintola
6. Overview of the Effect of Covid-19 on Nigeria’s Energy Sector. Benjamin Bolutiwi Babatope And Solomon Ibrahim Audu
7. The Efficacy of the Nigerian Response to Covid-19: Challenges, Lessons and Opportunities. Oluwaseun Sodipe, Ayotomiwa Alabi, Kehinde Bewaji, Adedeji Yusuf
**Note: The two volumes ordinarily cost 8,000 Naira, however, Authors will benefit from special discounts of having the two volumes at 5,000 Naira. In case you need these copies, kindly contact UI-LISA using the contact details available on this website.
A report on the Study by UI-LISA on Enhancing Election Particaption in Nigeria
Aurthors:Olusanya E.Olubusoye; Saad U. Udris; Timothy A. Bamiduro; Abosede A. Adepoju; Ibrahim Sani; Oluwayemisi O. Alaba; Serifat Folorunsho; Olalekan J. Akintande & Tayo P. Ogundunmade
Policy Briefs: Enhancing Election Particaption in Nigeria
Aurthors:Olusanya E.Olubusoye; Saad U. Udris; Timothy A. Bamiduro; Abosede A. Adepoju; Ibrahim Sani; Oluwayemisi O. Alaba; Serifat Folorunsho; Olalekan J. Akintande & Tayo P. Ogundunmade
An information-based index of uncertainty and the predictability of energy prices
Aurthors: Olusanya E.Olubusoye; Ahamuefula E. Ogbonna; OlaOluwa S. Yaya & David Umolo
Abstract:
We develop an index of uncertainty, the COVID‐19 induced uncertainty (CIU) index, and employ it to empirically examine the vulnerability of energy prices amidst the COVID‐19 pandemic using a distributed lag model that jointly accounts for conditional heteroscedasticity, autocorrelation, persistence, and structural breaks, as well as day‐of‐the‐week effect.The nexus between energy returns and uncertainty index is analyzed, using daily price returns of eight energy sources (Brent oil, diesel, gasoline, heating oil, kerosene, natural gas, propane, and WTI oil) and four news/information‐based uncertainty proxies [CIU, EPU, Global Fear Index (GFI) and VIX]. The CIU and alternative indexes are used, respectively for the main estimation and sensitivity analysis. We show the outperformance of CIU over alternative news uncertainty proxies in the prediction of energy prices. News (aggregate) and bad news are found to negatively and significantly impact energy returns, while good news has a significantly positive impact. Imperatively, energy variables lack hedging potentials against the uncertainty occasioned by the COVID‐19 pandemic, while we find no strong evidence of asymmetry. Our results are robust to the choice of news variables, forecast horizons employed, with likely sensitivity to energy prices.
