RE-EXAMINING THE LINK BETWEEN FDI, ENERGY CONSUMPTION, POPULATION GROWTH AND CARBON EMISSION IN NIGERIA

Research on how FDI and population growth affects carbon emissions (CO2) is essential, the pollution-haven theory is less clear because prior research has not much examined the complicated relationship between FDI, population growth and CO2 in Nigeria. Based on this, this study re-examined the link between FDI, energy consumption and population growth on CO2 in Nigeria. The data for the study were obtained from World Development Indicator (WDI, 2023) which covered from 1990-2023. The ARDL methods were employed to analyze the data. The findings of the study show that energy consumption has a negative effect on CO2 emissions and is statistically significant, this can be trace to the renewable energy application in the Nigeria economy. The study recommends promotion of greener energy sources; Nigeria's government needs to review its energy strategy more. These could include taxing or regulating the use of fossil fuels, increasing energy efficiency, and providing incentives for renewable energy. The government needs to come up with ways to lessen the detrimental effects of exchange rate and foreign direct investment on Nigeria's carbon emissions, like increasing funding for research innovation and emancipation in eco-friendly industries and technologies, especially energy efficiency and renewable energy.