The Impact of Migrant Remittances and Poverty in Nigeria (1991 – 2024) (Published)
Despite substantial inflows of migrant remittances into Nigeria, poverty levels continue to rise. This study examined the relationship between migrant remittances and poverty in Nigeria. The study used the ex post facto research design and analyzed annual data covering the period 1991–2024. Data were sourced from the Central Bank of Nigeria (CBN), and the World Development Indicators (WDI). The Autoregressive Distributed Lag (ARDL) model and the Pairwise Granger Causality test were employed for estimation, with inferences drawn at the 5% level of significance. The results revealed that remittances had a positive and statistically insignificant effect on poverty in the short run (β = 0.5449; t = 1.0191) and a negative and statistically significant effect in the long run (β = −3.6515; t = −3.5327). The study concluded that migrant remittances play a significant role in reducing poverty in Nigeria, particularly in the long run. The study therefore recommended that the government prioritize policies that encourage and facilitate remittance inflows by reducing transaction costs, expanding access to formal financial services, and promoting the productive use of remitted funds.
Keywords: Nigeria, Poverty, autoregressive distributed lag, migrant remittances