This study employed a combination of linear and nonlinear models to investigate the energy–growth nexus of OPEC member countries from 1960 to 2018 in a country‐specific form. It questioned the environmental friendliness of the energy initiatives of OPEC member countries as major producers and exporters of crude oil. Primary evidence of the study shows energy dependence among OPEC member countries supporting the growth hypothesis. We also found complementarity in fossil fuel and renewables as inducers of growth in 70% of the studied countries and found greater growth influence of fossil fuel in the case of 16% of the studied countries. In a country like Congo, we found greater influence from renewable energy, while Gabon's status was indeterminate. The dynamic profile of the energy–growth nexus evidenced by the error correction representations in their linear and asymmetric forms shows that growth adjusts nonlinearly to energy use in about 39% of the investigated OPEC member countries, and linearly in 61% of the countries. It can be said from our findings that global initiatives on green energy are gaining grounds in a preponderance of OPEC member countries.

Energy has remained essential and inevitable for human life and sustenance. Over the centuries, energy availability and use have concentrated on nonrenewable sources like oil and other natural deposits, which adversely pollute the environment and leave the earth globally warmed. This has necessitated the global agitation to shift from environmentally threatening energy sources (nonrenewable sources) to environmentally friendly sources (renewable sources; Mohsin et al., 2021). This has currently put power sector transformation and enhanced investment in clean energy sources as the fundamental tenets of environmental sustainability and economic development (IEA, 2021). In recent decades, concerted efforts have been made globally in favour of green energy production and consumption. Various meetings have been held with the resultant touchstone and policies. For instance, the

Purpose This study aims to investigate in a country-specific comparative and panel form, the impact of energy use on financial development in Organisation of Petroleum Exporting Countries (OPEC)-African countries of Algeria, Gabon, Libya and Nigeria. Design/methodology/approach With data sets covering the period 1980 to 2020, this study used a combination of country-specific autoregressive distributed lag model (ARDL) and panel-ARDL as well geo-maps to show the spatiotemporal nuances of the investigated countries. Findings It was discovered across the investigated countries and in the panel framework that energy consumption significantly impacts both bank development and institutional development, which are subsets of financial development. In addition, evidence in favor of adjustment of financial development to the shocks and dynamics of energy consumption was found. Practical implications Integrative developmental drive for the two sectors can enhance growth and value-chain interactions for the imperatives of the overall growth and development of the OPEC-African countries. Originality/value This study adds to the literature on finance and energy development by the introduction of the spatiotemporal analysis.