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The Impact of Remittances on Economic Growth of Nigeria (1980 -2014)

By Lafia Journal Of Economics And Management Sciences (lajems)  et al

Summary

This study examines the impact of remittances on economic growth of Nigeria from 1980 to 2014.
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Abstract

THE IMPACT OF REMITTANCES ON ECONOMIC GROWTH OF NIGERIA (1980 -2014)

Amade Peter1, Emmanuel C. Ani2, and Jerry A.K. Garru3

1,3Department of Economics, Adamawa State University, Mubi 2Department of Economics, Federal University Wukari,

Abstract

This study examines the impact of remittances on economic growth of Nigeria from 1980 to 2014. The study was carried out using secondary data which were collected from the World Bank’s World Development Indicator Database, 2015. The data collected were analyzed using trend analysis, descriptive statistics, correlation analysis, unit root test, Ordinary Least Squares regression analysis and granger causality test. The results of the study suggests that remittances have a negative trend over the period of study. Remittances were found to granger cause economic growth over the period of study, though it has negative and statistically insignificant impact on economic growth. The study recommends among others that Nigerians in diaspora should channel their remittances to the real sector of the economy where its impact can be positively felt.

About the Authors

Lafia Journal Of Economics And Management Sciences (lajems)

Lafia Journal Of Economics And Management Sciences (lajems)

Amade Peter1

Amade Peter1

Emmanuel C. Ani2

Emmanuel C. Ani2

Jerry A.k. Garru3

Jerry A.k. Garru3

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