1. The study aims to empirically assess the impact of renewable and nonrenewable energy on Nigeria's national output, provide estimates of output and substitution elasticities between the two types of energy, discuss the challenges and effectiveness of renewable energy development in Nigeria, and suggest policy implications for future energy development.
2. The study is the first to use the translog production function method to examine the strategies enshrined in Nigeria's Renewable Energy Program and calculate output and substitution elasticities.
3. The study highlights the importance of considering country-specific factors when developing renewable energy policies that aim to reduce emissions while enhancing economic growth and reducing energy poverty.
The article discusses the need for empirical confirmation of the transition from nonrenewable to renewable energy in Nigeria and seeks to achieve this by assessing the impact of both types of energy on Nigeria's national output, providing estimates of output and substitution elasticities between them, discussing challenges and effectiveness of renewable energy development, and suggesting policy implications. The study uses a new methodology, the translog production function method, which is considered flexible in applied production analysis.
The article provides a comprehensive overview of Nigeria's energy situation and highlights the challenges associated with renewable energy development. However, it is important to note that the article may have some biases. For example, it focuses solely on production perspective without considering other factors such as environmental impact or social benefits. Additionally, it does not explore counterarguments against renewable energy development or provide evidence for some claims made.
Furthermore, while the article acknowledges that Nigeria's energy and economic situations are different from those of developed countries, it does not fully consider how these differences may affect policy goals or implementation. It also does not present both sides equally when discussing the potential risks and benefits of renewable energy development.
Overall, while the article provides valuable insights into Nigeria's renewable energy program and its potential impact on economic growth and carbon emissions reduction, it could benefit from a more balanced approach that considers all relevant factors and perspectives.