Remittance to less developed countries, Nigeria in particular has been on the increase in recent years. Whether this inflow results in economic growth or negatively affects macroeconomic variables has been an issue of deliberation among policy makers and in most literature. This research work, in an attempt to justify the position of the author, carries out a study on the Impact of Remittance on economic growth in Nigeria using the Johansen co integration test, Ordinary Least Square Regression model and the Granger Causality Test. The results from the study show that a significant positive relationship exists between remittances and economic growth Nigeria. A long run impact was also established, however, no causal relationship was established between economic growth and remittances. As a result, it is advised that the government should formulate policies to ensure that this increasing stream of income is channelled towards productive investments and activities in the country.

You either get what you want or your money back. T&C Apply

Talk to us right now: (+234)906-451-7926 (Call/WhatsApp)

---