Papers by Chijioke Nwaozuzu
Journal of economics, finance and management studies, Jun 17, 2024
International Journal of Economics and Management Studies, Sep 29, 2023
There is a rising need for the transition into a more sustainable energy resource base in Nigeria... more There is a rising need for the transition into a more sustainable energy resource base in Nigeria, which oftentimes becomes a thing of concern to the government and the citizens to reflect on a sustainable energy system. It is important to note that policymakers have a great role to play in regulating the affairs of energy supply, as most of the infrastructure is determined by the dynamics and structure of the energy systems. With this, the quest to understand the energy system is at its zenith. This study focuses on exploiting natural gas as a transition fuel, capable of driving industrialization and improving the Nigerian economy. This study used exploratory research tools to investigate the dynamics of adopting gas as a transition fuel for driving industrialization in the Nigerian energy ecosystem. Secondary data from archives and published documentation linked to the Nigerian energy systems were used for the analysis and to derive useful insights for the validation of the objectives of this study. From the result of the analysis, three parameters were applied in the measurement of the energy systems to determine which system is best positioned to act as a transition fuel. They are: (1) The extraction rate of the energy system from its original source, (2) CO2 emission rate and content, (3) Carbon and other impurities contents. The proposed transition fuel (natural gas) showed the best response to the three parameters. Gas returned a 100% extraction rate; it was also observed that gas has the lowest CO2 emission of about 59.4% with a lower deposit of carbon content. This study concludes that there is a need for the Nigerian power system to tackle its energy challenges by adopting gas as a transition fuel in support of sustainable energy. It also suggests the combination of gas as a fuel with other advanced technologies for optimal industrialization of the nation. This study also affirms that to sustain energy supply, there is a need to monitor consumption rates and patterns adequately, and this dynamic should be considered as a primary deciding factor during policymaking.
International journal of research and innovation in social science, Dec 31, 2022
International Journal of Engineering Technologies and Management Research, 2020
The paper present an economic model and framework for the development of natural gas pipeline for... more The paper present an economic model and framework for the development of natural gas pipeline for sustainable economic development in Nigeria. The study reviewed the economics of natural gas pipeline development in Nigeria. The research formulated an economic model for a case study of Calabar to Ajaokuta 417km gas pipeline project and a discounted cash flow for an economic life of 40 years. The project economics indicates a Net Present Value (NPV) of 12.5 billion USD with a discounted payback period of 7 years and 9 nine months, Profitability Index (PI) of 7.30, Internal Rate of Return of 23.05% and Growth Rate of Return 26.97% and these project economic indicator shows that the gas pipeline investment is viable. This study provides an economic model that would guarantee security of gas supply, provide access to clean energy and provides an economic framework to support long term natural gas pipeline development in Nigeria
International Journal of Engineering Technologies and Management Research, 2022
This paper investigates the relationship between natural gas consumption, natural gas price, crud... more This paper investigates the relationship between natural gas consumption, natural gas price, crude oil price, Foreign direct Investment and per capita GDP in Nigeria to ascertain their causal effects and dependencies by using time series data from 1990 to 2020 in an econometric platform using Vector Error Correction model (VECM). The result of VECM estimate, Granger causality test and Variance decomposition test all suggest the presence of a strong positive correlation between natural gas consumption and economic growth (represented by per capita GDP) in Nigeria, even though the price of natural gas is not consumption determined. This implies that economic policies that encourage production of goods and services in Nigeria will tend to boost natural gas consumption in Nigeria. Finally, foreign direct investment showed negligible impact on natural gas consumption but was more impacted by crude oil price. This suggests that the rate of influx of foreign investment into Nigeria is mo...
This paper performs cost-benefit analysis of a pipeline infrastructure project based on a given n... more This paper performs cost-benefit analysis of a pipeline infrastructure project based on a given natural gas demand in order to estimate the net present value and payback time for natural gas pipeline investment in Nigeria. The result of the cost-benefit analysis indicates a positive net revenue and net present value (NPV) at the current regulated transport cost and availability factor for gas pipelines in Nigeria. However, with a payback period of 14 years, a natural gas pipeline project in Nigeria is likely to lose-out investment capital to other competing investments within the oil and gas sector. Scenario analysis indicates that by doubling the regulated transport cost with a 50% tax reduction, the pipeline investment results in a much higher NPV and a payback of 4 years, which is more acceptable to investors.
JOURNAL OF THE NIGERIAN SOCIETY OF CHEMICAL ENGINEERS, 2021
Condensate refining is among the strategies proposed to solve the light oil glut around the globe... more Condensate refining is among the strategies proposed to solve the light oil glut around the globe. The Nigerian Liquefied Natural Gas (NLNG), which is the Nigerian government’s best performing investment in the natural gas value chain, produces plant condensate as a by-product. In this paper, the economics of a refinery designed to use NLNG plant condensate is evaluated under an optimistic oil price forecast and a pessimistic oil price trend. A gasoline producing refinery configuration was chosen for this study, and it comprises of a naphtha splitter, a Penex isomerisation unit and a Continuous Catalytic Reforming (CCR) unit. The product yields and plant costs were determined by established correlations and industry estimates. The proposed refinery will convert 40,000 bpd plant condensate into 96% gasoline, 3% LPG and 1% hydrogen, and economic indicators such as Net Present Value (NPV), Internal Rate of Return (IRR) and Profitability Index (PI) were used to assess the economic viabi...
Limited competition among the few fuel retailers in rural and remote locations results in fuel pr... more Limited competition among the few fuel retailers in rural and remote locations results in fuel pricing problems, such as high rural fuel prices and rural-urban fuel price differentials. Thus, the regulation of fuel retailing activities in these locations is expected to resolve these problems, and thus contribute to a rural development policy. These problems are of concern to governments and rural communities, primarily because high fuel prices generate significant multiplier effects on the cost of rural living and economic activities.The author argues that regulation of fuel retailing is likely to contribute significantly to resolving the research problems within the context of an integrated approach to rural development. The author further argues that this approach could lead to a paradigm shift in the mix of fuels consumed in rural and remote locations, and hence cause a reduction in fuel prices as well as the rural-urban fuel price differentials.
Http://www.ijetmr.com©International Journal of Engineering Technologies and Management Research [... more Http://www.ijetmr.com©International Journal of Engineering Technologies and Management Research [35] ECONOMIC IMPACT ANALYSIS OF NATURAL GAS PIPELINE DEVELOPMENT IN NIGERIA Henry Biose , Professor Adewale Dosunmu , Dr. Chijioke Nwaozuzu 3 1, 3 Emerald Energy Institute for Petroleum and Energy Economics, Policy and Strategic Studies, University of Port Harcourt, Nigeria 2 Department of Petroleum and Natural Gas Engineering, University of Port Harcourt, Nigeria Abstract: The paper presents the economic benefits of the long term development of gas pipeline infrastructure in Nigeria. The study reviewed related literature and modeled a sensitivity analysis of the tax rate with tax holiday, without tax holiday and economic impact analysis. The sensitivity analysis of tax rate with tax holiday and without tax holiday was also evaluated and it indicated that the 20% corporate income is more viable for gas pipeline projects in Nigeria. The economic impact analysis evaluated the direct, indir...
International Journal of Engineering Technologies and Management Research, 2020
This paper performs cost-benefit analysis of a pipeline infrastructure project based on a given n... more This paper performs cost-benefit analysis of a pipeline infrastructure project based on a given natural gas demand in order to estimate the net present value and payback time for natural gas pipeline investment in Nigeria. The result of the cost-benefit analysis indicates a positive net revenue and net present value (NPV) at the current regulated transport cost and availability factor for gas pipelines in Nigeria. However, with a payback period of 14 years, a natural gas pipeline project in Nigeria is likely to lose-out investment capital to other competing investments within the oil and gas sector. Scenario analysis indicates that by doubling the regulated transport cost with a 50% tax reduction, the pipeline investment results in a much higher NPV and a payback of 4 years, which is more acceptable to investors.
International Journal of Engineering Technologies and Management Research, 2019
The paper present an economic model and framework for the development of natural gas pipeline for... more The paper present an economic model and framework for the development of natural gas pipeline for sustainable economic development in Nigeria. The study reviewed the economics of natural gas pipeline development in Nigeria. The research formulated an economic model for a case study of Calabar to Ajaokuta 417km gas pipeline project and a discounted cash flow for an economic life of 40 years. The project economics indicates a Net Present Value (NPV) of 12.5 billion USD with a discounted payback period of 7 years and 9 nine months, Profitability Index (PI) of 7.30, Internal Rate of Return of 23.05% and Growth Rate of Return 26.97% and these project economic indicator shows that the gas pipeline investment is viable. This study provides an economic model that would guarantee security of gas supply, provide access to clean energy and provides an economic framework to support long term natural gas pipeline development in Nigeria.
The Nigerian Government’s Transformation Agenda, instituted by the President, to cover the period... more The Nigerian Government’s Transformation Agenda, instituted by the President, to cover the period 2011 – 2015 is anchored on Nigeria’s long-term economic development blueprint as encapsulated in Vision 20: 2020. The transformation agenda isolates a set of key priority policies and programmes which when executed are expected to yield outcomes that are consistent with present and future needs of the Nigerian people. It is already a known fact that Nigeria operates largely a mono-product economy presently, and it is expected that further developments in, and transformation of, the petroleum sector will lead to a diversification of the Nigerian economy into agriculture, information and telecommunications technology, aggressive manufacturing activities, etc. This book is a collection of articles published by the author based on a review of the upstream, mid-stream and downstream petroleum developments in Nigeria, with a view to proffering short, medium and long- term policy solutions to ...
Link to publication General rights Copyright and moral rights for the publications made accessibl... more Link to publication General rights Copyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. • Users may download and print one copy of any publication from the public portal for the purpose of private study or research. • You may not further distribute the material or use it for any profit-making activity or commercial gain • You may freely distribute the URL identifying the publication in the public portal Take down policy If you believe that this document breaches copyright please contact us providing details, and we will remove access to the work immediately and investigate your claim.
SPE Nigeria Annual International Conference and Exhibition
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Papers by Chijioke Nwaozuzu