Electricity Consumption and Economic Growth A Comparative Study of Nigeria and Ghana

📄 Project Abstract

Energy is crucial to the improvement of social and economic welfare. It is necessary to continued economic activity in modern industrial nations, and its absence would result in interruption of economic growth and diminishing standards of living. In fact, in developing nations a lack of modern energy services is a principal cause of low levels of economic and social development (Evans & Hunt 2009). Today's modern economy thrives on energy consumption. Energy consumption is disaggregated into petroleum and electricity consumption, but this study shall be considering just an aspect of it, which is electricity consumption. Electricity is a key infrastructural element for economic growth. It is a multitalented 'energy currency' that underpins a wide range of products and services that improve the quality of life, increase worker productivity and encourage entrepreneurial activity (Adom, 2011). Furthermore, Jumbe (2004) asserts that Electric power is vital for economic growth and quality of...