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ENERGY SECTOR DEVELOPMENT AND MANUFACTURING OUTPUT IN NIGERIA
Abstract: This study assessed the relationships between various energy sources and manufacturing output with a view to providing information on efficient energy-mix option for enhancing manufacturing output production in Nigeria. Annual data were sourced from World Development Indicators, Central Bank of Nigeria Statistical Bulletins, National Bureau of Statistics, and Power Holding Company of Nigeria and analyzed using Autoregressive Distributed Lag (ARDL) technique. The results showed that hydroelectricity (t = 10.27, P < 0.05) and gas (t = 2.21, P <0.05) have positive and statistically significant long run relationships with manufacturing output in Nigeria, while coal (t = 1.97, P > 0.05), although has a positive relationship with manufacturing output, is statistically significant at 10% level. However, the short run results reported positive and significant relationships between the contemporaneous values of hydroelectricity (t=4.08, P<0.05), coal (t=2.12, P<0.05), gas (t=2.27, P<0.05) and manufacturing output in Nigeria but the previous year value of hydroelectricity (t= 3.14, P<0.05) has a significant negative relationship with manufacturing output. Therefore, the study concluded that hydroelectricity, gas and coal are the major energy sources supporting manufacturing output production in Nigeria and recommended that Nigerian manufacturing firms should make use of them as their main energy input. Keywords: Energy-mix, manufacturing, output, ARDL