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REVIEW OF THE IMPACT OF ELECTRICITY SUPPLY ON ECONOMIC GROWTH: A NIGERIAN CASE STUDY
Abstract: This work reviews the impact of electricity supply on economic growth. In this background, power supply in Nigeria was studied from 1983 to 2017. Results obtained show that 100% of stake holders and 68% of the general public in Umudike, Abia State, Nigeria agree that power supply in Nigeria has improved in recent times. For every 1% increase in electricity supply, an economy is expected to grow by 3.94%. Inversely, a 1% increase in real gross domestic product leads to a 0.34% increase in electricity supply and consumption. Although, with an improved current generating capacity of 7000 megawatts and distribution capacity of 4600 megawatts, factors such as an increase in load growth, poor maintenance of existing transmission and distribution facilities and lack of adequate physical structure still cause epileptic power situation in most parts of Nigeria. This study recommends that policies aimed at boosting the generating and distribution of electricity supply in Nigeria should be maintained. This in turn would have a positive impact on the economy. Keywords: Transmission, Electricity, Nigeria, Industry, Economy, Load growth