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Efficacy of Islamic financing for renewable energy infrastructure: the case for Nigeria

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dc.contributor.authorIshaq Muhammad Mustapha Akinlaso
dc.contributor.supervisorShamsher Mohamad Ramadili Mohd
dc.contributor.supervisorZiyaad Mahomed
dc.contributor.supervisorAbubakar Sani Sambo
dc.date.accessioned2022-11-11T02:41:37Z
dc.date.available2022-11-11T02:41:37Z
dc.date.issued2021
dc.description.abstractThis dissertation examined the efficacy of Islamic financing instruments in bridging the energy infrastructure investment gap in Nigeria, a fiscally-burdened, developing country. A growing energy infrastructure investment gap is an imminent concern in Nigeria, like in many developing countries, and has been precipitated by financial and economic challenges. This research sheds light on two critical problems associated with the conventional infrastructure financing instruments in PPP: a. high risk of financial distress due to high debt gearing; and b. a substantial fiscal risk that endangers fiscal sustainability. Using a case study approach, the dissertation presents the case of Nigeria's Mambilla Hydro Electric Power (HEP) Project that has failed to kick off for over forty years since its initial approval due to several financing hurdles. This study examined in the Mambilla HEP project in its pre-set conventional financing framework and developed research hypotheses to design and structure an alternative Islamic financial instrument. Further, the study employs two distinct financial modelling techniques to test each of the hypotheses. First, it uses Monte Carlo simulation with optimisation algorithms to solve an objective function that maximizes the project's financial viability subject to specific economic constraints. Second, the dissertation uses scenario-based sensitivity analysis to assess Nigeria's (as the host country) fiscal sustainability position of the host country before and after implementing the infrastructure project using both the pre-set conventional financing instrument and the proposed Islamic financing solution.en_US
dc.goalsGoal 7
dc.identifier.citationAkinlaso, I. M. M. (2021). Efficacy of Islamic financing for renewable energy infrastructure: the case for Nigeria (Doctoral dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/3682en_US
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/3682
dc.languageEnglish
dc.language.isoengen_US
dc.publisherINCEIFen_US
dc.rights2021. INCEIF
dc.sourceSGPS
dc.subjectIslamic financing instrumentsen_US
dc.subjectRenewable energy infrastructureen_US
dc.subjectNigeriaen_US
dc.titleEfficacy of Islamic financing for renewable energy infrastructure: the case for Nigeriaen_US
dc.typePhDen_US
dlc.maintopicIslamic financeen_US
dspace.entity.typePublication
ikr.doctypeTheses
ikr.goalGoal 7
ikr.licenseAvailable in downloadable format
ikr.topic.maintopicIslamic financeen_US
relation.isAuthorOfPublication33b91dde-0170-454c-8f2b-ec4b208837b9
relation.isAuthorOfPublication33b91dde-0170-454c-8f2b-ec4b208837b9
relation.isAuthorOfPublication4f8b920e-6954-48c5-aa66-888d6fa99924
relation.isAuthorOfPublication4f8b920e-6954-48c5-aa66-888d6fa99924
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