DETERMINANTS OF GREEN ENERGY UTILIZATION AMONG SMALL AND MEDIUM-SIZED ENTERPRISES IN EKITI STATE, NIGERIA
- Ayotunde Ola Kolawole
- Sylvester Oluwadare Ojo
- Samuel Adeyemi Igbatayo
- Isaiah Oluwatobi Owolabi
- Abimbola Moji Ezekiel
- Kamal Adekunle Abdu-Raheem
- Moyinoluwa Folaranmi Adesakin
- ( paper pages. 283 - 310 )
Abstract
The increasing need
for sustainable energy options in Nigeria has highlighted the opportunities
that green energy presents for enhancing environmental resilience and economic
effectiveness, particularly for small and medium-sized enterprises (SMEs). This
study investigated the determinants of green energy adoption among SMEs in Ekiti State, Nigeria. Primary data was
obtained from 320 participants through a well-structured questionnaire. The data was analysed using descriptive and
inferential statistics. The significant factors that influenced the utilization
of solar energy by small business owners were the average monthly estimated
power costs (-6.211E-005), the average cost of wiring a small firm's production
environment (1.934E-005), and the BEDC service support rating (1.806). SMEs
experienced an abnormally high rate of inaccurate billing (90%) from the power
distribution company (BEDC) and unreliable power supply (89%) with less than 4
hours of energy each day. The t-test results indicate a significant difference
in green energy investment between agricultural and non-agricultural SMEs. This study suggests that the Ekiti State
government should actively stimulate the growth of green energy among SMEs by
fostering public-private partnerships. These findings contribute to the discourse on clean
energy adoption and provide practical insights for policymakers aiming to scale
green energy solutions in Nigeria’s entrepreneurial landscape.
Citation
Ayotunde Ola Kolawole, Sylvester Oluwadare Ojo, Samuel Adeyemi Igbatayo, Isaiah Oluwatobi Owolabi, Abimbola Moji Ezekiel, Kamal Adekunle Abdu-Raheem, Moyinoluwa Folaranmi Adesakin.
2025.
"DETERMINANTS OF GREEN ENERGY UTILIZATION AMONG SMALL AND MEDIUM-SIZED ENTERPRISES IN EKITI STATE, NIGERIA"
The Nigerian Journal of Economic and Social Studies,
67 (2): 283 - 310.
