SUSTAINABLE ENERGY SUPPLY: SOLAR ENERGY AS A STRATEGIC ALTERNATIVE FOR ECONOMIC GROWTH IN NIGERIA

Abstract

The current electricity power supply to Nigerians has been grossly inadequate and does not meet the minimum international standards of electricity services. There have been power failures or outages which does not promote development in both the private and public sectors of the economy. This present study seeks to extend the existing literature by investigating the influence of solar energy (SE) on economic growth (EG) in Nigeria. Data were drawn through questionnaire from 180 employees of 4 Local Government Areas in Rivers State. The sample for the study was selected through the use of the simple random sampling technique. The study found that solar energy has a significant influence on economic growth through the gross domestic products (GDP) and human development index (HDI) Therefore, the study concludes that, if Nigeria adopts solar energy as an alternative energy supply for sustainability, she will achieve accelerated economic growth, and recommends amongst others that Policymakers should key in effectively to sustainable energy programs that will engender GDP and HDI in order to drive citizens towards positive creativity that will increase the country’s GDP and HDI and accelerate economic growth.