EFFECT OF MIGRANTS’ REMITTANCES ON INCOME INEQUALITIES IN NIGERIA

Authors

  • Selena Idowu Okhumaile Department of Banking and Finance School of Financial Studies Auchi Polytechnic Auchi, Edo State
  • Adeniji Akinmegha Olakunle Department of Banking and Finance School of Financial Studies Auchi Polytechnic Auchi, Edo State
  • Aigbodesi Maryam Iregha Department of Banking and Finance School of Financial Studies Auchi Polytechnic Auchi, Edo State

Keywords:

Income Inequality, Migrants’ Remittances, Gini Coefficient, Inflation Rate

Abstract

The study empirically examined the effect of migrants’ remittances and income inequality in Nigeria from 1990 -2022. The study used secondary data which were collected from Central Bank Statistical Bulletin and World Bank Indicator. The data collected were analysed using error correction method (ECM) and the result revealed that migrants’ remittances have a positive and significant relationship on income inequality in Nigeria during the period under investigation, while inflation rate has a negative and non-significant relationship with income inequality in Nigeria. It was therefore recommended that government should put in place policies that maximize the benefits of migrants’ remittances and maximize their positive effects in Nigeria. Also, complementary policies that help mitigate any adverse income distribution consequences of migrants’ remittances should be designed. Such mitigating polices may range from setting up or improving safety nets, better labour policies and institutions.

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Published

23-04-2024

Issue

Vol. 5 No. 1 (2024): Nnadiebube Journal of Social Science

Section

Articles