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ABSTRACT
This study examines the impact of migrant remittances on aggregate demand in Nigeria from 1990 to 2020, analyzing key economic variables such as migrant remittances (MGR), consumption (CON), investment (INV), population growth rate (PGR), interest rate (INTR), exchange rate (EXCR), and real gross domestic product (RGDP). Findings reveal a surprising negative relationship between migrant remittances and consumption, contrasting with the positive correlation between population growth rate and consumption, indicating the potential demographic dividend of Nigeria's youthful population. Additionally, a positive correlation between real GDP and consumption underscores the importance of sustainable economic growth. Moreover, the study identifies a positive relationship between migrant remittances and investment, highlighting their role as a source of capital for investment in Nigeria. These insights emphasize the need for nuanced policy approaches that consider factors like exchange rates, interest rates, population growth, and economic diversification. Policymakers should explore avenues to channel remittances into productive investments and prioritize initiatives supporting sustainable economic development to enhance living standards for Nigerians.
