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COAL AND THE NIGERIA ECONOMY

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 Format: MS WORD ::   Chapters: 1.5 ::   Pages: 57 ::   Attributes: Questionnaire, Data Analysis ::   25 people found this useful
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CHAPTER ONE

INTRODUCTION

  1. BACKGROUND OF THE STUDY

Coal was discovered in Enugu, Nigeria in 1909. The Ogbete drift mine opened six years later. Its operations and others in the country were merged into a new corporation in 1950 known as the Nigerian Coal Corporation (NCC). The NCC was tasked with exploiting coal resources, and held a monopoly on coal and coke mining, production, and sales until 1999. The Nigerian coal production was managed by a Polish firm KOPEX from inception until the time of collapse (Nwaobi G, 2008).

        Nigeria's coal industry suffered a blow in the 1950s when oil was discovered. Up until this point, the Nigerian Railway Corporation was the largest consumer of coal in the country. However, after the discovery of oil, the Railway Corporation began to replace its coal burning trains with diesel-powered engines. It is well documented that long term global economic growth cannot be achieved without adequate and affordable energy supplies, which will require continuing significant contributions from fossil fuels, including coal. As such, coal plays a unique role in meeting the demand for secured energy, as it is globally the most abundant and economical of fossil fuels. At current production levels, proven world coal reserves are estimated to last 147 years, in contrast to oil and gas which are estimated to last 41 and 63 years, respectively. It is also projected that the greatest demand for fossil fuels will be coal, which will remain the second largest primary fuel source until 2030 (Wolde-Rufael, 2010).

        According to Energy Information Administration (2009) World coal consumption is projected to increase from 127.5 quadrillion Btu in 2006 to 190.2 quadrillion Btu in 2030. In 2006, coal accounted for 27 percent of world energy consumption. Of the total coal produced worldwide in 2005, 62 percent was shipped to electricity producers, 34 percent to industrial consumers, and most of the remaining 4 percent to the residential and commercial sectors. Coal’s share of total world energy consumption is projected to increase to 28 percent in 2030, and its share in the electric power sector is projected to remain relatively constant at 42 percent from 2006 to 46 percent in 2030. Nigeria today is seen as one of the greatest developing nations in Africa with highly endowed coal energy resources. However, increasing access to energy in Nigeria has proved to be not only a continuous challenge but also a pressing issue with the international community. Coal is one of the oldest commercial fuels used in Nigeria but Since oil was discovered, coal was given less relevance and became highly neglected. With a reserve of over 2 billion metric tonnes, Nigeria produces not more than 200000 to 600000 tonnes yearly (Odularo and Okonkwo, 2009).

1.2 STATEMENT OF THE PROBLEM

Coal is one of the most important sources of energy in Nigeria; however over dependency on crude oil diverted the attention of the federal government of Nigeria from coal mining and consumption. Today coal mining and consumption has become a thing of the past and secondly there have been little or no research as regard the relationship between coal and the Nigeria economy; hence a need for the study. 

1.3 AIM AND OBJECTIVES OF THE STUDY

The study seeks to examine coal and the Nigeria economy. The objectives of the study are:

  1. To determine the effect of coal on the Nigeria economy
  2. To determine the relationship between coal exports and the Nigeria economy
  3. To determine the contribution of coal export to the Nigeria economy
  4. To identify the factors affecting coal and the Nigeria economy

1.4 RESEARCH QUESTIONS

The following research questions guide the objectives of the study:

  1. What is the effect of coal on the Nigeria economy?
  2. What is the relationship between coal exports and the Nigeria economy?
  3. What is the contribution of coal export to the Nigeria economy?
  4. What are the factors affecting coal and the Nigeria economy?

1.5 STATEMENT OF THE HYPOTHESIS

H0: coal has no significant effect on the Nigeria economy

H1: coal has significant effect on the Nigeria economy

1.6 SIGNIFICANCE OF THE STUDY

This is highly important because it will reveal whether coal exports have contributed either positive or negative to the development of economy of Nigeria.

The findings of this study enable the economist, developmentalist and policy makers of the Nigeria to come out with a holistic policy that will determine the extent to which coal export can influence the Nigeria economy.

Ultimately, it helps the nation on their decision dependence on mineral resources for economic development, as the role of the coal mining and exports towards economic development of Nigeria will be critically analyze, evaluate and ascertain

1.7 SCOPE OF THE STUDY

The study covers on coal and the Nigeria economy from 1916-2002

1.8 LIMITATION OF THE STUDY

LIMITATION OF THE STUDY

TIME CONSTRAINTS: One the challenges experienced by the researcher is the issue of time; the research will simultaneously engage in departmental activities like seminars and attendance to lectures. But the researcher was able to meet up with the deadline for the submission of the project.

FINANCIAL CONSTRAINTS: Every research work needs funding; however lack of adequate funds might affect the speed of the researcher in getting materials for completion of the project.

1.9 DEFINITION OF TERMS

COAL: Coal is a fossil fuel, formed from vegetation, which has been consolidated between other rock strata and altered by the combined effects of pressure and heat over millions of years to form coal seams. The energy we get from coal today comes from the energy that plants absorbed from the sun millions of years ago

GDP: Gross domestic products

 


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Paper Information

Format:MS WORD
Chapter:1.5
Pages:57
Attribute:Questionnaire, Data Analysis
Price:₦3,000
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