Abstract
Given Nigeria’s commitment to attain net-zero carbon emissions by 2060, this study presents an optimal energy mix for attaining Nigeria’s energy transition goals. The results of the threshold analysis methodology showed that Nigeria’s energy mix has a threshold level of 1.3397 per cent, below which an increase in renewable energy production will result in a significant increase in carbon emissions. Given the current high cost of adopting renewable energy sources, transition fuels such as natural gas and LNG could be utilized. Furthermore, joint efforts between monetary and fiscal authorities are needed to reduce the country’s carbon footprint.
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