Climate change is a major challenge for the world today. Though its effects cut across all countries, developing countries are the most vulnerable. CO2 emissions from the combustion of fossil fuel energy resources is the major cause of anthropogenic climate change, and parts of the solution require transition from conventional fossil fuel to clean and renewable energy sources in line with the Paris climate agreement and the United Nations’ Sustainable Development Goals (SDGs). As a result, several countries, including Nigeria, have formulated renewable energy and related environmental policies aimed at increasing the share of renewable energy in total energy use. Given that Nigeria is an oil and gas producing and exporting country and the electricity sector is currently dominated by hydro and natural gas power energy, it is important to understand how the renewable energy policy affects the macro-economy and other development outcomes. Thus, this study seeks to answer the question: What is the welfare, employment and gender effects of Nigeria’s renewable energy policy? We will simulate the overall macroeconomic impacts of the policy, focusing on the welfare, employment and gender effects. Specifically, we will apply a gendered-CGE model to calibrate Nigeria’s Social Accounting Matrix (SAM) in order to estimate, compare and determine the most economically optimal options for financing renewable energy. The results of this study will help the government in coordinating and harmonising its renewable energy policy options.
Project leader: Oluwasola Emmanuel Omoju
No working papers.
No policy briefs.
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