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NEEDS ASSESSMENT OF THE PROSPECT OF RENEWABLE ENERGY IN NIGERIAN ECONOMIC SPACE: THE PANACEA FOR SUSTAINABLE INDUSTRIALIZATION AND ECONOMIC DEVELOPMENT OF NIGERIA

ABSTRACT

This study examined needs assessment of the prospect of renewable energy in Nigerian economic space as a panacea for sustainable industrialization and economic development of Nigeria. Needs assessment survey design was adopted for this study which was carried out in Nigeria. The targeted population for the study comprised all Environmental Scientist and Economist in Nigeria (precisely in Akwa Ibom Enugu States). A stratified random sampling technique was used to select 50 environmental scientists and 30 economists each from Akwa Ibom State and Enugu State and this gave a total of 160 respondents used for the study. The nstrument used for data collection was a structured questionnaire titled “Renewable Energy and Sustainable Industrialization Questionnaire (RESIQ)”. Face and content validation of the instrument was carried out by an expert in test, measurement, and evaluation in order to ensure that the instrument had the accuracy, appropriateness, and completeness for the study under consideration. The reliability coefficient obtained was 0.85, and this was high enough to justify the use of the instrument. The researcher subjected the data generated for this study to appropriate statistical technique such descriptive analysis to answer research questions. The result of the data analysis revealed that “Hydropower” among other types of renewable energy, was the most needed for sustainable industrialisation and economic development in Nigeria. It also showed that “job creation and economic opportunities,” among other effects of renewable energy, was the most prominent for the economic development of Nigeria. Finally, it also portrayed “inadequate infrastructure” as the greatest challenge of renewable energy adoption in Nigeria, among other challenges faced. The study concluded that by harnessing diverse renewable resources such as solar, wind, and biomass, Nigeria can address its energy deficits while promoting environmental sustainability and economic resilience. One of the recommendations provided was that government incentives and policy support should foster sustainable growth by encouraging innovation, investment, and equitable access to resources, ultimately driving economic resilience and social progress.

Keyword: Needs, Prospect, Renewable Energy, Economic Development, Economic Space, Sustainable Industrialization and Nigeria.

Ezekiel James Bassey

INTERNATIONAL JOURNAL OF EDUCATIONAL AND SCIENTIFIC RESEARCH FINDINGS. VOL. 7 NO.1