Remittances and Inclusive Growth Nexus in Nigeria: Does Health-Oriented Official Development Assistance Matter?

For the past few decades, remittances, as a veritable source of foreign capital flow, have impacted the economies of many less developed countries through various channels as recorded in extant literature. However, these flows have been characterized by wide fluctuations occasioned largely by economic downturns migrants host countries with attendant consequences on recipient countries. Thus, this study seeks to investigate the impact of such volatilities in remittances on inclusive growth within the Nigerian context, using the Fully Modified Ordinary Least Square (FMOLS) for the period 2000 to 2018. The result shows that remittance-led economic growth hypothesis was not confirmed, as fluctuations in remittances inflow has negative impact on economic hypothesis as the health-oriented official development assistance impacted positively on economic growth. The study therefore recommends the implementation of relevant policies aimed at mitigating the volatilities in remittances inflow as well as improving on the administration and management of such health aid.