Application of the Stochastic Markov Model in Predicting the Volume of Oil Spill in Nigeria: A Case of the Niger-delta Region

Authors

  • Ifeoma Christy Mba UNIVERSITY OF NIGERIA
  • Emmanuel Ikechukwu Mba University of Nigeria, Nsukka
  • Winnie Ogonna Arazu University of Nigeria, Nsukka
  • CHINASA E. URAMA University of Nigeria, Nsukka
  • Chioma Henrietta Machebe University of Nigeria, Nsukka
  • Chikodili Eze

Abstract

Oil spillage in the Niger Delta region of Nigeria and its associated hazard is on the increase and there is urgent need to combat its increasing volume by predicting the volume in the future thus, the objective of this study is on the prediction of the volume of oil spill in Nigeria via the Stochastic Markov Model. Two States Markov analysis were employed  and it was discovered that the volume of oil spill incident were mostly maintained in a high state than in a low state and the predicted values were approximately steady at a probability value of 0.519 which is in favour of the high state. The study concluded that for the Nigerian Federal government to combat the volume of oil spill, she should in addition to enforcing the laws governing the volume of oil spill incident, employ remediation process that would help clean up the mess caused the spillage.Keywords: occurrence, oil spill, Niger DeltaJEL Classifications: P28, Q53, Q56DOI: https://doi.org/10.32479/ijeep.7744

Downloads

Download data is not yet available.

Author Biographies

Ifeoma Christy Mba, UNIVERSITY OF NIGERIA

DEPARTMENT OF ECONOMICS, LECTURER I

Emmanuel Ikechukwu Mba, University of Nigeria, Nsukka

Department of Statistics, Lecturer I

Winnie Ogonna Arazu, University of Nigeria, Nsukka

Department of Economics, Assistant Lecturer

CHINASA E. URAMA, University of Nigeria, Nsukka

Department of Economics, Lecturer I

Chioma Henrietta Machebe, University of Nigeria, Nsukka

Department of Economics Education

Downloads

Published

2019-06-01

How to Cite

Mba, I. C., Mba, E. I., Arazu, W. O., URAMA, C. E., Machebe, C. H., & Eze, C. (2019). Application of the Stochastic Markov Model in Predicting the Volume of Oil Spill in Nigeria: A Case of the Niger-delta Region. International Journal of Energy Economics and Policy, 9(4), 110–114. Retrieved from https://econjournals.net.tr/index.php/ijeep/article/view/7744

Issue

Vol. 9 No. 4 (2019)

Section

Articles

License

Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication.