DETERMINANTS OF RENEWABLE ENERGY GROWTH IN AFRICA: IS NIGERIA DIFFERENT?

Given the importance of Renewable Energy (RE) in the discussion of a reliable and sustainable energy future, it is imperative to understand its main determinants and to draw result implications for energy policy. This study analyses these determinants for sub-Saharan Africa, with a special focus on Nigeria. Using panel data techniques namely the Fixed Effects (FE) estimator for a period covering 1990-2011, the results suggest that increases in fossil fuel prices (oil price) and economic development (per capita GDP) aid Renewable Energy development while population growth impedes it. Furthermore, the study investigates the potentials and current status of Renewable Energy in Nigeria. The investigation shows that Nigeria is blessed with great potential for developing RE such as wind, biomass, solar and hydropower, dispersed in all regions of the country; however, these potentials haven't been fully tapped into, even though many of them are plentifully available, and have good economic potential.