Influence of Governance and Risk Factors on Renewable Energy Investment in Nigeria
DOI:
https://doi.org/10.37497/sdgs.v5igoals.15Keywords:
Renewable Energy,, Investment Intention, , Governance,, Risk,, Theory of Planned BehaviourAbstract
Objective: This study proposes a framework to assess the intention of conventional energy stakeholders in Nigeria to invest in renewable energy. The objective is to extend the Theory of Planned Behaviour (TPB) by incorporating governance and investment factors, aiming to provide insights for policy-makers and investors.
Method: The study utilizes a conceptual framework combining TPB with governance indicators (such as government effectiveness and political stability) and investment factors (such as perceived risk and tax incentives). Data collection will be conducted using a survey questionnaire, analyzed with SPSS and SmartPLS.
Results: The framework is expected to show that governance quality and investment factors significantly influence stakeholders’ intentions to invest in renewable energy. Improved governance and lower perceived risk are hypothesized to increase the likelihood of investment in renewables, addressing Nigeria’s significant electricity gap.
Conclusions: The proposed framework offers a structured approach to understanding the drivers of renewable energy investments in Nigeria. If validated, it will provide critical insights for formulating policies that encourage private investment in the renewable energy sector, helping to achieve Nigeria’s energy and climate goals.
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