IIARD International Institute of Academic Research and Development

INTERNATIONAL JOURNAL OF ECONOMICS AND FINANCIAL MANAGEMENT (IJEFM )

E-ISSN 2545-5966
P-ISSN 2695-1932
VOL. 10 NO. 1 2025
DOI: 10.56201/ijefm.v10.no1.2025.pg41.57

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Population Dynamics, Energy Consumption and Economic Growth in Sub-Saharan African

EZEBUNWA, Justice Ndukwu PhD and NYECHE, Ezebunwo PhD

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Abstract

This study examined the effect of population dynamics, energy consumption, and economic growth in Sub-Saharan Africa using panel data spanning from 2010 to 2021. Sourced from World Development Indicators and Central Bank of Nigeria Statistical Bulletin, 2022. Economic growth was proxied by Real Gross Domestic Product (RGDP), while Mortality rate (MOR), Fertility rate (FER), Net Immigration (NIM), and Energy Consumption (ENCM), Electricity consumption (ELEC), and Fossil fuel Consumption (FSFC) were the proxies for population dynamics and energy consumption respectively. The variables for the study were subjected to stationarity test and the results showed that the variables were integrated at order zero I(0) and order one 1(1). The Hausman test was conducted to determine whether either fixed or random effect model is suitable for the study. While the two-system Generalized Method of moment (GMM) approach were also employed to test the hypotheses and the presence of a long-run co-integration connection. The finding reveals that mortality rate, net migration rate, energy consumption and electricity consumption all have a joint negative and significant effect on Real Gross Domestic Product of sub-Saharan Africa. While fertility rate and fossil fuel consumption have a positive and significant effect on Real Gross Domestic Product of sub-Saharan Africa. Based on the finding, the study concludes that population dynamics and energy consumption play a significant role in enhancing economic growth of sub-Saharan Africa. The paper highlights the need for sustainable population policies and energy strategies in Sub-Saharan Africa. It emphasizes the importance of investing in renewable and efficient energy sources to promote economic growth while minimizing environmental costs. It also suggests the implementation of population management policies that balance demographic trends with resource availability and socioeconomic development g

keywords:

Population Dynamics, energy consumption, economic growth, Sub-Saharan Africa

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