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Diaspora Remittances And Growth Of The Agricultural Sector In Nigeria

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  • CHUKUNALU MGBOMENE

Abstract

This research work focused on diaspora remittances and growth of the agricultural sector in Nigeria. Annual time series data on workers remittances, migrant remittances, foreign direct investment and exchange rate were employed in the research. Using econometric techniques (error correction model and the vector auto regression model), the research found that workers remittances, migrant remittances and FDI have increased the output of the agricultural sector in Nigeria. Exchange rate decreased the inflow of official remittances to the agricultural sector. The study concluded that for the period 1990 – 2022, remittances had enhanced the output of the agricultural sector with migrant remittances having the most effect. Thus, the main recommendations was that government should pursue the unified exchange rate policy, intensification and sustenance of the inflow of remittances to the agricultural sector through the provision of a formal channel for Nigerian workers and migrants to send in monies into Nigeria without rigorous hurdles.(C12,F24,Q14).

Suggested Citation

  • Chukunalu Mgbomene, 2024. "Diaspora Remittances And Growth Of The Agricultural Sector In Nigeria," Journal of Academic Research in Economics, Spiru Haret University, Faculty of Accounting and Financial Management Constanta, vol. 16(2 (July)), pages 387-402.
    • Handle: RePEc:shc:jaresh:v:16:y:2024:i:2:p:387-402
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    References listed on IDEAS

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    1. Helal Uddin & Md. Hasanur Rahman & Shapan Chandra Majumder, 2022. "The impact of agricultural production and remittance inflows on economic growth in Bangladesh using ARDL technique," SN Business & Economics, Springer, vol. 2(4), pages 1-25, April.
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    More about this item

    Keywords

    Agricultural sector; exchange rate; foreign direct investment; remittances.;
    All these keywords.

    JEL classification:

    • F24 - International Economics - - International Factor Movements and International Business - - - Remittances
    • N57 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Africa; Oceania

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