Energy Sector and Business Development in South Eastern Nigeria: 1990 – 2016

Abstract

The study examined Energy Sector and Business Development in Nigeria. Data were sourced from various publications of Central Bank of Nigeria, National Bureau of Statistics, National MSME Survey report 2013 of SMEDAN, Federal Ministry of Power. Ordinary Least Square (OLS) technique was used in the research work.  The analysis revealed that energy sector has significant relationship with the business indicators such as manufacturing sub-sector output, energy generation relative to installed capacity, industrial production, labour, technology, import and export variables among others, used in the research work. The restructuring of the energy sector and its influence on business development have a positive relationship with the business growth. The increase in supply of energy sector enhances the business operations and business development of the South Eastern Zone. The research recommends that the Federal Government should provide adequate energy infrastructure for a reliable and efficient supply by granting more licences to qualified private investors, providing energy efficiency policies in the area of power.