Abatement of pollutant emissions in Nigeria: a task before multinational corporations

Abstract

Following the global alertness and consciousness over the increasing warming and heating on the ground of climate change, over 200 countries including Nigeria have committed themselves in reducing this global phenomenon. Nigeria being among the countries placed with individual country's task and also known as a one-economy operating county because of its oil and gas gifting is subject to investigation of its efforts and result in decarburization of its economy and environment. The oil and gas sector of Nigeria has been identified as the major sector where the heavy utilization of energy is centered on through mining and exploration activities of these foreign companies who have investments and stakes in the main stream sector. This is the major reason of adopting FDI as a major variable to test the performance of the environmental condition of the country. To effectively carry this research, the authors, adopt, cointegration test and the linear ARDL test to unveil the true picture of the foreign investors impact on carbon emission reduction. Among the findings is the positive but not significant interaction between economic growth and carbon emission which infers the capability of the economic operation to initiate the degradation in the environment via pollutant emission. Energy use depicts inducement to carbon emission with positive association with carbon emission. FDI established both negative and positive relationship with carbon emission at initial stage and lag 1 respectively. All the variables point towards carbon emission increase in the country which call for serious attention towards decarburization of the country to fall in line with the agreed policy of Paris formation.