Electricity Consumption, Entrepreneurship and Unemployment in Nigeria

This study employed time series data on industrial component of GDP at current basic prices to proxy entrepreneurship (ENT), electric power consumption (kWh per capita) (ELEC), and unemployment rates (UNEMP) obtained from the CBN Annual Statistical Bulletin, 2018 and World Development Indicator 2018. The unit root test revealed that all the variables are stationary at first difference, while Johansen Cointegration revealed that there exist no Cointegration between the variables, we then proceed to use unrestricted VAR analysis to show the interrelationship between the variables, the VAR analysis revealed that a percentage increase in the unemployment rate is associated with a 0.06% decrease in entrepreneurship output and that both have a negative relationship in the short run, a percentage increase in the unemployment rate is associated with a 0.9% increase in electricity consumption and that both have a positive relationship in the short run, and a percentage increase in entrepreneurship output is associated with a 43% increase in electricity consumption and that both have a positive relationship in the short run.