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Migrant Remittances and Economic Growth in Nigeria: Evidence from ARDL Analysis (1990-2023)

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Remittances have a negative association with Nigeria's Real GDP in the short term, but a significant positive correlation in the long term.
Analysis using ARDL found inflation negatively impacts economic growth in Nigeria, with statistical significance in the long term.
In contrast, foreign direct investment shows a short-term negative relationship with Real GDP, though not statistically significant.
The results indicate the need for government initiatives to channel remittances into productive investments to foster growth.

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Empirical analysis reveals remittances influence economic growth in Nigeria, suggesting policy adjustments may enhance outcomes.

Joan et al. (2025) studied this question.

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